9, Shangfeng Cement issued a performance forecast for the first half of the year, predicting that the net profit attributable to shareholders of listed companies in the first half of 2024 would be 160 million yuan to 180 million yuan, down 69.89% to 66.13% from the same period last year; Basic earnings per share is 0.17 yuan to 0.19 yuan. The decrease in the performance of the
Company during the reporting period as compared with the same period of last year was
mainly due to the imbalance between supply and demand in the cement market in the first quarter of 2024, the decrease in both sales volume and price of main products, and the gradual stabilization in the second quarter, but the demand remained weak. The price of cement and cement clinker products in most regions of China is running at a low level. The year-on-year decrease in the prices of main products of cement and clinker was the main reason for the decrease in profit during the reporting period.
During the reporting period, the Company's "one main and two wings" business developed steadily, and the main business continued to make progress in cost reduction and efficiency enhancement and cost and expense management and control; the auxiliary wing aggregate business maintained a stable profit; the investment valuation of the new economy industry fund increased; due to the impact of the stock market, the market value of the shares held by the Company in the first half of the year fluctuated.
