Huaxin Cement (06655) fell nearly 5%. As of press release, it fell 4.86% to HK$7.05, with a turnover of HK$18.817,600.
The Zhitong Finance App learned that Huaxin Cement (06655) fell by nearly 5%. As of press release, it fell 4.86% to HK$7.05, with a turnover of HK$18.817,600.
According to the news, Huaxin Cement announced results for the first quarter of 2024, with operating revenue of about 7.084 billion yuan, up 6.87% year on year; net profit attributable to shareholders of listed companies was about 177 million yuan, a decrease of 28.43% year on year. In addition, the company's expense ratio for the first quarter was 15.15%, an increase of 2.32 percentage points over the previous year, of which the financial expenses ratio was 2.57%, an increase of 1.54 percentage points over the previous year.
Caitong Securities pointed out that due to factors such as real estate demand and the late start of construction after the holiday season this year, the volume and price of cement in Hunan and Hubei provinces, which are the main cement production capacity regions of Q1, fell in 2024. Against this background, the company's performance declined under pressure in 2024 Q1, and net profit to mother fell 28.43% year on year. According to the bank, in 2024, the company plans to continue to invest 6.9 billion yuan in aggregate, concrete, overseas cement production capacity and alternative fuel construction, and business competitiveness is expected to be further strengthened.