Tapai Group: the net profit in 2021 up by 3.04% to 1.836 billion yuan

Byzengjiaming12

Updated Tue, 01 Mar 2022 09:27:53 GMT

The "2021 Annual Results Express" disclosed by Tapai Group in the evening of February 24 shows that in 2021, the cement output achieved 19.9737 million tons, up by 2.31% over the same period of the previous year; the cement sales volume achieved 19.7889 million tons, increased by 2.96% over the same period of the previous year; the operating revenue was 7.713 billion yuan, up by 9.46% over the same period of the previous year; the net profit attributable to shareholders of the listed company was 1.836 billion yuan, with an increase of 3.04% compared with the same period of the previous year.

In 2021, the cement price in eastern Guangdong region continued to run at a low level from the beginning of the year and fell after rose in the second quarter. In the third quarter, the price started to rise rapidly from the beginning of September due to the supply tightening under the dual control of energy consumption and power restriction, and in the fourth quarter, cement demand shrank due to the sharp rise of construction material prices and the rapid cooling of the real estate market, the sustained slowdown in real estate investment, and the slow progress of construction works, besides, the coal price fell after rise, so that the cement price has been topping out to the downtrend since mid-October, and the impact of the dual control of energy consumption has gradually eased at the end of the year. Although the cement price has gone down a lot, the cement demand was still weak.

In 2021, the company's annual cement sales price increased by 8.03% compared with the same period of the previous year; due to the impact of rising coal price, the company's cement sales cost increased by 12.68% compared with the same period of the previous year. Because of the increase in cost was greater than the increase in sales price, the company's comprehensive gross profit margin fell by 2.44 percentage points year-on-year and the profitability of cement products declined slightly year-on-year. The increase in cement sales offset part of the impact of the increase in cement costs, and combined with the year-on-year increase in securities investment and wealth management income during the reporting period, resulting in a slight year-on-year increase in the company's operating profit, total profit and net profit attributable to shareholders of the listed company during the reporting period.

In 2021, the company strived to overcome many difficulties such as the significant increase in coal and electricity costs and the production restriction and shutdown caused by the dual control of energy consumption, actively responded to the peak carbon dioxide emission and carbon neutrality, promoted the green transformation and intelligent upgrade, accelerated the construction of photovoltaic energy storage and cement kiln co-processing solid waste projects, and achieved counter-trend growth against the background of the 10% year-on-year decline in total profit in the cement industry in 2021.