Changes in Hong Kong stocks | Western Cement (02233)'s net profit in the first half of the year rose by more than 5% after the results, and overseas business began to contribute to profits

The Zhitong Finance App learned that Western Cement (02233) rose more than 5% after the results. As of press release, it had risen 4.68% to HK$1.9, with a turnover of HK$32.815 million.

According to the news, Western Cement announced interim results, with revenue of 4.527 billion yuan for the first half of the year, down 16.5% year on year; net profit to mother was 379 million yuan, down 49.4% year on year. During the period, the total sales volume of cement and clinker was 10.54 million tons, a year-on-year decrease of 2.6%. Among them, sales volume in the Chinese market decreased by 22.6% to 5.15 million tons, while sales volume in overseas markets increased by 29.3% to 5.39 million tons.

The company said that due to the decline in national demand for cement, the company's core business performance in China was poor, leading to a decline in both average sales price and gross profit. At the same time, investment in the international market began to pay off, and the business in sub-Saharan Africa and Central Asia continued to contribute significantly to the company's profits. The company expects to continue to seek growth opportunities in emerging markets in the future.