In the third quarter, due to the dual decline in sales volume and prices of cement business products, the company's revenue and profit both saw a double-digit year-on-year decrease.
In the third quarter, due to the dual decline in cement business product sales volume and prices, the company's revenue decreased by 32.89% compared to the same period last year.
On the 29th, Conch Cement announced in a statement:
- Revenue: Revenue in the third quarter was 22.585 billion yuan, a year-on-year decrease of 32.89%.
- Net Income: In the third quarter, the net income attributable to shareholders of the listed company was 1.873 billion yuan, a decrease of 15.13% year-on-year.
- Basic Earnings Per Share: In the third quarter, it was 0.35 yuan per share, a decrease of 14.77% year-on-year.
- Total Assets: As of the end of the reporting period, the company's total assets were 252.091 billion yuan.
In the first three quarters, the company's cumulative revenue was 68.15 billion yuan, a year-on-year decrease of 31.27%, with a net income of 5.198 billion yuan, a year-on-year decrease of 40.05%. The basic earnings per share cumulatively were 0.99 yuan, a year-on-year decrease of 39.81%.
According to the company's announcement, during this reporting period, the cost of goods sold decreased significantly by 32.30%, with administrative expenses and sales expenses at 4.289 billion yuan and 23.33 billion yuan respectively, both showing slight decreases. Research and development expenses were 0.865 billion yuan, a decrease of 34.00% year-on-year, indicating the company's effective cost control.
In the building materials industry, weakening market demand has affected the selling price and sales volume of the company's cement products. Intensifying market competition and fluctuations in raw material costs are important factors affecting the company's performance.