Anhui Conch builds concrete and solar capacity as cement sales tumble in 2022

Anhui Conch’s sales fell by 21% year-on-year to US$19.2bn in 2022 from US$24.4bn in 2021. Its net profit dropped by 52% to US$2.31bn from US$4.84bn. Sales volumes of cement and clinker decreased by 24% to 310Mt. It blamed the situation on weakening market demand and high energy costs.

New projects that started operation in 2022 included a capacity replacement scheme at its Anhui Chizhou Conch Cement subsidiary and two new clinker production lines at the Qarshi project in Uzbekistan. The group also completed its acquisition of Chongqing Duoji Renewable Resources, Naimanqi Hongji Cement, and Chifeng Hahe Cement. By the end of 2022, its cement and concrete production capacities rose by 1% to 269Mt and 73% to 25.5Mm3. Its solar power capacity also more than doubled to 475MW.