Shangfeng Cement's net profit in the first quarter was 14.5969 million yuan, down 91.54% from the same period last year.

29, Shangfeng Cement disclosed its first quarterly report for 2024. In the first quarter of this year, the Company realized an operating income of RMB 909 million, a year-on-year decrease of 34.61%; the net profit attributable to the shareholders of the listed company was RMB 14.5969 million, a year-on-year decrease of 91.54%.

The announcement showed that due to the overall situation of the industry and the winter break in the first quarter of the Northwest Regional Base, the sales volume and price of the company's cement products declined, the operating income decreased by 34.61% year on year, and the net profit attributable to the shareholders of the listed company was 14.5969 million yuan, a decrease of 91.54% year on year.

Faced with the current situation of industry development, the company continues to promote the work of "increasing income, reducing costs, controlling costs and increasing efficiency" in operation, forging new productivity around energy saving and low carbon, and enhancing cost competitiveness. In the first quarter, the comprehensive gross profit rate was 22.36%, which continued to maintain a better level in the industry. The main industry acquired Bohai Cement in the northwest region in conjunction with Tianshan, Xinjiang; A photovoltaic power station was newly put into operation by the Company, with a cumulative photovoltaic installed capacity of 14.7MW. In the first quarter, the Company achieved green power generation of 3.09 million kwh and energy storage and discharge of 187,000 kwh. The self-developed "Shangfeng Double Carbon" and "Shangfeng Zhiwei" systems were newly awarded soft work certificates. The investment value of the Company's new economic industry fund increased, and the "one main body and two wings" continued to develop steadily.