China Shanshui Cement preliminary profit down 73%

China Shanshui Cement has posted a preliminary profit for the full year of CNY748.7m, down 73.0 per cent YoY on the back of falling sales, according to Reuters. The company’s operating revenue in 2022 reached CNY21.49bn.

Going forward, the group will focus on improving product quality and reducing costs. Cement demand, which was sluggish throughout 2022, is expected to stabilise and decline in 2023.