China Tianrui Cement released its annual results for the year ended December 31, 2023, and the Group achieved revenue of RMB 7.889 billion (the same unit below), a decrease of 28.64% over the same period last year; Loss attributable to owners of the company was 634 million yuan, compared with a profit of 449 million yuan in the same period last year.
In 2023, the gross profit of the Group was approximately RMB1,629 million, representing a decrease of approximately RMB1,085 million or 40.0% from approximately RMB2,714 million in 2022. The company's gross profit margin decreased from about 24.5% in 2022 to about 20.7% in 2023. The decrease in gross profit margin was mainly due to the fact that the decrease in cement price in 2023 was greater than the decrease in cost per ton of cement.
In 2023, the demand of cement industry declined, the price fluctuated at a low level, and the overall market was weak. Looking forward to 2024, according to the current situation, Tianrui Group will adhere to profit-centered, focus on internal management to reduce costs, expand the market to increase efficiency, comprehensively improve the level of operation and management, continuously enhance the ability to prevent risks and enterprise competitiveness, and strive to achieve a better performance in management level, operating results and other aspects in 2024. In
2024, Tianrui Group is committed to the following aspects of work:
(1) implement industry policies, adhere to the requirements of "dual control" of energy consumption and "dual control" of emissions, promote peak-shifting production, optimize ultra-low emissions, and safeguard the interests of the industry and enterprises;
(2) Strengthen internal management, tap potential, make up for shortcomings, reduce costs, improve operation level, restore and enhance profitability, and improve internal competitiveness from mining, raw material procurement, production process, cost control and sales management;
(3) Stabilize existing customers and open up new markets, continue to strengthen the development and maintenance of high-grade cement market with key engineering customers as the main part, and continue to increase the market share of low-grade civil cement;
(4) Continue to extend the industrial chain, expand new energy businesses such as wind, solar and storage, and promote alternative fuel projects to seek new profit growth points;
Continue to promote "smart" and "green" development, build and upgrade smart mines and smart factories as well as green mines and green factories, and promote the sustainable development of enterprises.
