On December 1, China Tianrui Cement (01252) issued a mid-term performance announcement, during the reporting period (up to June 30, 2024), the company realized revenue of 2.584 billion yuan, down 35.4% from the same period last year. Gross profit was 615 million yuan, down 34.6%. In terms of
profit, the profit attributable to the owners of the Company was RMB28.29 million, representing a significant decrease of 81.2% as compared with the same period of last year. Basic earnings per share for the period was 0.01 yuan, down significantly from 0.05 yuan in the same period last year. As at the end of the reporting period, the total assets of the Company amounted to RMB40.573 billion, representing a decrease of 7.8% as compared with the end of last year, and the total liabilities amounted to RMB21.611 billion, representing a decrease of 10.4% .
Management pointed out that the decline in performance was mainly affected by the continued downturn in real estate investment and the slowdown in infrastructure investment, the demand for cement continued to decline, and the price was running at a low level. Cement sales fell by 31.4% to 8.2 million tons from about 12 million tons in the same period last year. In addition, sales revenue in Central China was approximately RMB2.132 billion, representing a decrease of 35.2%, and sales revenue in Northeast China was RMB452 million, representing a decrease of 36.3%. The company did not make any major investment or acquisition during the reporting period. In terms of
business segments, the segment profit in Central China was RMB92.11 million, representing a decrease of 42.6% as compared with the same period of last year, while the loss in Northeast China was RMB47.71 million, indicating a significant difference in regional business performance. On the whole, the company's business environment is grim, and we need to pay attention to market changes to meet the challenges .
