Tapai Group: Net profit in the first three quarters was 381 million, a year-on-year decrease of 37.98%

Tapai Group announced its third-quarter results on the evening of October 24 that its revenue in the first three quarters of 2024 was about 2.93 billion yuan, a decrease of 28.81% compared with the same period last year. The net profit attributable to shareholders of listed companies was about 381 million yuan, a decrease of 37.98% compared with the same period last year. The basic earnings per share was 0.33 yuan, a decrease of 37.74% compared with the same period last year.

Tapai said that from January to September 2024, due to the continuous decline in cement demand and intensified competition, the company's cement sales price fell by 18.27% year-on-year, and the cost of cement sales fell by 11.96% year-on-year due to the decline in the purchase price of raw materials such as coal and labor costs. As a result, the profitability of the main cement industry declined year-on-year. Affected by the rising stock index at the end of the quarter, the fair value change income of the securities investment held by the company increased, which increased the performance and slowed down the decline of the company's performance.