Recently, Tianrui Cement released its 2024 interim report. The report shows that in the first half of 2024, cement demand continued to decline and cement prices were running at a low level due to the continuous bottoming of real estate investment and the slowdown of infrastructure investment. Consistent with the industry situation, the performance of Tianrui Cement declined year on year.
As of June 30, 2024, Tianrui Cement has a total clinker production capacity of 28.4 million tons, cement production capacity of 56.4 million tons and limestone aggregate production capacity of 30.2 million tons. In the first half of
2024, Tianrui Cement sold 8.2 million tons of cement products, a decrease of about 3.8 million tons or 31.4% compared with about 12 million tons in the same period of 2023. The average price was approximately RMB227.0 per tonne, representing a decrease of RMB29.1 per tonne, or 11.4%, as compared to the same period last year. In the first half of
2024, the sales volume of limestone aggregate of Tianrui Cement was approximately 19.1 million tons, representing a decrease of approximately 2.4 million tons or 11.1% as compared with approximately 21.5 million tons in the same period of 2023. The average price was approximately RMB31.9 per tonne, representing a decrease of RMB2.2 per tonne, or 6.5%, as compared to the same period last year. In the first half of
2024, Tianrui Cement sold about 500,000 tons of clinker, a decrease of 200,000 tons compared with the same period in 2023. During this period, the clinker produced by Tianrui Cement was mainly used to meet the needs of cement production within the Group. In the first half of
2024, Tianrui Cement recorded revenue of RMB2,583.8 million, representing a decrease of approximately RMB1,414.8 million or 35.4% as compared to the same period in 2023. Profit attributable to owners of the Company was approximately RMB28.3 million, representing a decrease of approximately RMB122.2 million or approximately 81.2% from approximately RMB150.5 million for the corresponding period in 2023.
