Jianfeng Group: Net profit attributable to parent company in the first quarter of 2024 was 2.4283 million, representing a year-on-year decrease of 89.51%!

Higher retaliatory tariffs imposed by the United States on Vietnamese cement exports have raised concerns among Philippine cement manufacturers that more Vietnamese cement will flow into the Philippines, adding to the pressure on the local industry. The Philippine Tariff Commission held a hearing to discuss the safeguard tariff. The United States has announced a 46% tariff on Vietnam, which is now suspended but still worrying. Vietnam's cement production capacity is expanding, but the demand in the main export market is low. The low capacity utilization rate of the Philippines is due to a large number of imports. It has become the third largest cement importer. It calls for the use of its own production capacity to improve the domestic situation.