Huaxin Cement expected the net profit to drop 47%-53% year-on-year in 2022


Updated 2023-03-03

On January 30, 2023, Huaxin Cement issued a forecast of its 2022 annual performance, estimating that the net profit attributable to the parent company for 2022 will range from 2.521 billion yuan to 2.843 billion yuan, with a decrease of 47% to 53% year-on-year

The above expected decrease is mainly due to the downward trend of real estate market and the recurring COVID-19 pandemic, the year-on-year decline in consolidated sales of cement and clinker, the company's leading products; at the same time, affected by the increase in price of energy, the costs of the cement and clinker are increased year-on-year.

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