Shares of Conch Cement (HKG:0914) plummeted 5.97% during Tuesday's trading session, following the release of disappointing financial results for 2024. The cement manufacturer reported a significant decline in both profit and revenue, falling short of analysts' expectations.

According to a filing with the Hong Kong stock exchange on Monday, Anhui Conch Cement's attributable profit for 2024 fell 25% to 8.05 billion yuan, down from 10.7 billion yuan in the previous year. Earnings per share decreased to 1.53 yuan from 2.02 yuan, missing the Visible Alpha analysts' estimate of 1.62 yuan. The company's revenue also took a substantial hit, declining 36% to 91 billion yuan from 141.2 billion yuan a year earlier, well below the 115.9 billion yuan forecast by analysts.

Despite the poor performance, Conch Cement declared a final dividend of 0.71 yuan per share, payable on June 30. Looking ahead, the company projects capital expenditure of about 12 billion yuan for 2025. Conch Cement also provided guidance on its production capacity, expecting annual net sales for cement and clinker to reach 268 million tonnes, while annual production capacity for aggregates and commodity concrete is anticipated to hit 19.6 million tonnes and 27.8 million cubic meters, respectively.