Affected by the downturn in demand in the industry, cement building materials enterprises are facing multiple pressures in 2023, with the profits of the whole industry falling by 55%. Shangfeng Cement takes "one main and two wings" as its multi-dimensional strength to promote stability, tenacious growth of production and marketing of main products, gross interest rate and performance indicators to maintain industry leadership, extend wing business to "green" to "new", and invest in wing business to contribute benefits, which overall reflects a strong operational efficiency competitiveness. The company also plans to increase the annual dividend rate to return investors with practical actions. 
The Company sold 21.4547 million tons of cement and clinker in 2023, up 11% year-on-year; Affected by the sharp decline in the market price of cement products, the annual operating income was 6.397 billion yuan, down 10.34% year-on-year; the net profit attributable to shareholders of listed companies was 744 million yuan, down 21.56% year-on-year; the company actively took cost reduction measures to reduce the unit manufacturing cost of the main product cement by 15.6%; The annual net cash flow from operating activities was 1.117 billion yuan, an increase of 9.53% over the previous year, the comprehensive gross profit rate of operating activities was 27.75%, the net profit rate of sales was 10.96%, and the average return on net assets was 8.66%. 
The Company continued to develop aggregates, environmental protection, new energy, intelligent logistics and other businesses around the extension of the industrial chain, and contributed remarkable profit benefits while improving new quality productivity and accumulating new technologies to empower the main business. The industrial chain extension business achieved a total revenue of 866 million yuan and a net profit of 229 million yuan; the annual environmental disposal of various hazardous solid wastes was 285,400 tons, with a year-on-year increase of 45.17%; the new energy business added 13.9 MW of distributed photovoltaic, contributing 6.1 million degrees of green power generation and reducing carbon by 5050 tons; Logistics shipping business undertook 725900 tons of transportation for social customers, an increase of 48.8% over the previous year. 
The Company's new economy equity investment has begun to contribute to the investment income. The Jinghe Integration Project has been successfully listed and issued. Zhongrun Solar Energy has been reviewed by Shenzhen Stock Exchange. The new round of financing valuation of some projects has been greatly improved; In 2023, equity investments in Shenghe Jingwei, Hengchuan New Energy, Jinmei New Materials and other projects were added, and the company gained a total of 176 million yuan in investment income and fair value change income. The overall asset structure and industrial structure of the company have been steadily optimized, while the main business has been upgraded and developed with high quality, new projects have been gradually nurtured and expanded, and the new pattern model has helped Shangfeng continue to maintain a good momentum of development.
Shangfeng was listed in the form of reorganization in 2013, when it did not finance the market, and in the past 10 years, the company has paid a cumulative dividend of 3.124 billion yuan to investors without refinancing the capital market; In 2023, the company plans to further increase the dividend rate, with a cash dividend of 382 million yuan, accounting for 51.38% of the net profit of the year, and a dividend rate of about 5.5%.
