TAPAI Group achieved a counter-cyclical growth in performance
Despite a decline in cement demand and prices since 2023, company's net profit expected to increase annually due to cost reduction.
TAPAI Group is expected to achieve a net profit of CNY 666 million to CNY 799 million in 2023, according to its performance forecast released on January 23, 2024.
This represents an increase of 150%-200% compared to the previous year. This is a counter-cyclical growth in performance, as the cement industry has been experiencing a decline in demand and prices since 2023.
TAPAI Group's success is attributed to cost reduction measures that have been implemented.
Source: Findzd