Gansu Shangfeng Cement (000672.SZ) announced its performance forecast for the first half of 2024, with a net income of 0.16-0.18 billion yuan attributable to shareholders of listed companies, a decrease of 69.89%-66.13% compared with the same period last year; after deducting non-recurring gains and losses, net income was 0.18-0.21 billion yuan, a decrease of 53.31%-45.53% compared with the same period last year; basic earnings per share were 0.17-0.19 yuan/share.
In the first quarter of 2024, the cement market supply and demand were imbalanced, and the sales volume and price of the main products fell together. In the second quarter, it gradually stabilized, but the demand remained weak, and the prices of most cement and clinker products in the domestic market were running at low levels. The main reason for the decline in profit in this reporting period is the year-on-year decline in the prices of cement and clinker main products.