Huaxin Cement: the performance of the first three quarters of 2020 is expected to decrease by 15-20%

Byzengjiaming12

Updated Tue, 20 Oct 2020 10:09:53 GMT

  Huaxin Cement announced the expected fall of performance for the first three quarters of 2020. The company is expected to reduce 0.73 billion yuan to 0.91 billion yuan year-on-year, with a year-on-year decrease of 15-20%.

  The main reasons why the performance is expected to reduce are because the Covid-19 has caused a severe impact in the last half year, and the extensive floods in the Yangtze River Basin in July, the output and sales of its leading products were greatly affected, the prices were decreased, so that the operating revenue was declined.

  It is worth noting that the company has achieved the net profit attributable to the shareholders of the listed company increased by 5% year-on-year in the third quarter of 2020, which shows its profitability has gradually recovered.