Financial

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.

Photo by Jeremy Bishop / Unsplash

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

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