Summary by Moomoo AI
Conch Cement announced its 2023 annual results with sales of approximately RMB1409.99 billion, up 6.80% year-on-year; net profit of approximately RMB106.92 billion, down 32.61% year-on-year; earnings per share of RMB2.02, down $0.97 year-on-year. The company completed several acquisitions in 2023, including Shaodong Pan-shi Concrete Co., Ltd., and Wuhan Hansel Environmental Engineering Co., Ltd., and provided bank loan guarantees for Linked Fangto Indonesia Papua Cement Co., Ltd. The Board of Directors proposes to distribute a final dividend of $0.96 per share (tax included), which is expected to be paid on July 3, 2024. In 2024, the Group plans capital expenditure of USD 152 billion, mainly for project construction, energy-saving environmental modification and acquisition projects, etc., and expects net sales of cement and composites for the full year to be 2.99 billion tons.