Recently, Asia Cement (China) released its unaudited interim results for the six months ended June 30, 2024. The group achieved revenue of 2.689 billion yuan during the period, a decrease of 34.49% compared with the same period last year; Loss attributable to shareholders was RMB405 million, while profit attributable to shareholders for the same period last year was RMB196 million, turning from profit to loss year on year; basic loss per share was RMB0.258.
The announcement said that the decrease in revenue was mainly due to the decrease in sales volume and selling price of the group's products. In
2024, the demand for cement in the key urban markets of the Group will decline significantly due to a number of factors , such as the downturn of the real estate market that has not yet stabilized, the slowdown in the growth of infrastructure investment and the frequent interference of extreme weather. In the first half of the year, the sales volume of the Group's cement products (cement + clinker ) decreased simultaneously.
Looking forward to the second half of the year, infrastructure investment accelerated landing, supporting the demand for infrastructure projects to pick up, but the real estate sector is still expected to see significant improvement, cement demand is still dragged down, the downward trend is unavoidable, although this year, enterprises around the country have generally increased the intensity of peak staggering, but it is still not enough to reverse the imbalance between supply and demand. The cement industry may face a severe test. On the other hand, the Group will give full play to its advantages in comprehensive storage and transportation, actively undertake key projects in the surrounding areas, and fully participate in market competition, so as to maintain the Group's core market share.
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