Anhui Conch revenue up 7% YoY in 2023

Anhui Conch Cement has beaten analyst expectations by posting revenue of CNY141bn (US$19.5bn). This marks a 6.8 per cent increase on the previous year. Net income in 2023 came in at CNY10.7bn, down 33 per cent on 2022, while the profit margin fell 12 per cent YoY in 2023. According to the company, the decline in margin was driven by higher expenses.

Earnings per share in 2023 stood at CNY2.02, compared to CNY2.99 in 2022.