Anhui Conch Cement Co., Ltd. (Conch Cement) released its first quarter report for 2024, showing a decline in both its operating income and net profit. During the reporting period, the sales revenue of Conch Cement was RMB213 billion, down 32.08% from the same period last year; net profit attributable to shareholders of listed companies was RMB 15 billion, a decrease of 41.14%. In addition, net cash flow generated by operating activities decreased significantly by 94.87%, while basic earnings per share and diluted earnings per share decreased by 40.91%. The Company explains that the decrease in operating income and net profit was primarily due to a decrease in sales volumes and sales prices of cement business products year-over-year. The report states that the financial statements are...Show More

Anhui Conch Cement Co., Ltd. (Conch Cement) released its first quarter report for 2024, showing a decline in both its operating income and net profit. During the reporting period, the sales revenue of Conch Cement was RMB213 billion, down 32.08% from the same period last year; net profit attributable to shareholders of listed companies was RMB 15 billion, a decrease of 41.14%. In addition, net cash flow generated by operating activities decreased significantly by 94.87%, while basic earnings per share and diluted earnings per share decreased by 40.91%. The Company explains that the decrease in operating income and net profit was primarily due to a decrease in sales volumes and sales prices of cement business products year-over-year. The report states that the financial statements are unaudited and that the Company's directors, supervisors, and senior management are legally responsible for the truthfulness, accuracy and completeness of the content of the reports. The report also includes the shareholders' equity situation of which Anhui Conch Group Limited has the highest shareholding ratio at 36.40%. During the reporting period, Conch Cement completed the acquisition of Anhui Conch Information Technology Engineering Co., Ltd., and its subsidiary China Carbon (Anhui) Environmental Technology Co., Ltd., and made a restatement of its previous annual financial statements. The quarterly report will be published in China Gazette on April 27, 2024.