On the evening of October 27, "Cement Mao" Conch Cement (600585.SH) issued a third-quarter performance announcement stating that in the first three quarters of 2022, the revenue reached approximately 85.328 billion yuan, a year-on-year decrease of 29.89%; the net profit attributable to shareholders of listed companies was approximately 12.419 billion yuan, a year-on-year decrease of 44.53%.
Regarding the performance changes, Conch Cement explained in its financial report that it was mainly caused by the rise in the company's product energy cost (coal price) and the decline in sales prices.
In the previous semi-annual report, Conch Cement once said that in the second half of 2022, the government will actively expand effective investment in infrastructure, comprehensively strengthen infrastructure construction, and accelerate the construction of major engineering projects in the "14th Five-Year Plan". Therefore, infrastructure investment has certain support for cement demand.
However, Conch Cement also admitted at that time that in terms of real estate, the country implemented policies based on the city to promote the virtuous cycle and healthy development of the real estate industry, but the downward trend of real estate investment in the short term is still difficult to reverse, which will have an adverse impact on the demand of the cement market.
From the perspective of the entire cement industry, the weak performance trend of Conch Cement is only a microcosm of the industry. Recently, the financial reports disclosed by Shangfeng Cement, Huaxin Cement , Fujian Cement , etc. showed that their respective revenue and net profits showed varying degrees of decline.
financial report data shows that Shangfeng Cement achieved operating income of 5.164 billion yuan in the first three quarters of 2022, a year-on-year decrease of 9.27%; net profit attributable to shareholders of listed companies was 846 million yuan, a year-on-year decrease of 46.75%.
Huaxin Cement achieved operating income of 21.811 billion yuan in the first three quarters of 2022, a year-on-year decrease of 2.86%; net profit attributable to shareholders of listed companies was 2.225 billion yuan, a year-on-year decrease of 37.57%.
Fujian Cement achieved total operating revenue of 1.895 billion yuan in the first three quarters of 2022, a year-on-year decrease of 18.4%; achieved net profit attributable to shareholders of -198 million yuan, compared with 240 million yuan in the same period last year, and failed to maintain profitability.
is slightly different from the above companies. Jidong Cement's revenue increased slightly in the first three quarters, but its net profit also declined. According to Jidong Cement's financial report, the company achieved operating income of 27.351 billion yuan in the first three quarters, and increased by 44.38% year-on-year; net profit attributable to shareholders was 1.634 billion yuan, a year-on-year decrease of 10.24%. (Text | "Financial World" Weekly Tang Guo)
