On April 13, Xizang Tianlu Co., Ltd. (Hereinafter referred to as "Xizang Tianlu") released its annual report for 2022. The report shows that during the reporting period, the operating income of Xizang Tianlu was 3.845 billion yuan, a decrease of 1.932 billion yuan, or 33.44%, compared with 5.777 billion yuan in the same period last year.
Mainly reflected in the following four aspects:
1, building materials plate:
cement industry is a typical cyclical industry and investment-driven industry. The company's cement production and sales have obvious regional characteristics and are closely related to the construction of regional infrastructure. As the newly-built cement production lines in Lhasa, Shannan, Qamdo, Xigaze and other regions are put into operation, the supply increases, and the investment in key projects in the Xizang Autonomous slows down, resulting in a decrease in the market demand for building materials products. In addition, with the entry of cement from outside the region, the supply-demand relationship in the cement market in the region has changed, and the competition is still fierce.
(1) Gao Zheng, a Xizang, responded positively to the call of the Building Materials Association of the Autonomous Region and resolutely implemented the peak-staggering production plan. In 2022, the three production lines have not been able to produce at full capacity. In addition, affected by macroeconomic fluctuations, cement production continued to decline, cement sales fell sharply year-on-year, and the unit price of sales increased by 1.24% compared with the same period last year. As a result, the operating income decreased by RMB 737 million;
(2) due to the expansion of the cement sales market and the successive construction of the Sichuan-Xizang Railway Project, the sales volume and selling price increased year-on-year, and the operating income increased by RMB 313 million;
(3) Commercial concrete Due to the downturn of real estate, the main customers of commercial concrete are central enterprises and local state-owned enterprises. Due to the intensification of market competition, in order to maintain market share, the sales volume and price decreased year on year, and the operating income decreased by 398 million yuan;
(4) In accordance with the spirit of the working conference of the local government on the regulation of temporary mixing stations and gravel yards, Chongqing Heavy Transport shut down a mixing station, which reduced the sales volume of asphalt concrete to a certain extent, and the operating income decreased by 96 million yuan compared with the same period last year;
2. The operating income of the construction segment decreased by 952 million yuan compared with the same period last year, mainly because the projects undertaken by the parent company in the area, such as the construction project of the extremely high altitude ecological relocation Senburi resettlement area (Phase II) in Xizang and the Shannan municipal road project, were completed one after another; The Chengdu Qingbaijiang Project, the Yunnan Songming Project and the Guangxi Fusui Project outside the region failed to commence construction as originally planned due to the approval of the conversion of basic farmland into construction land by the state. Affected by macroeconomic fluctuations, the projects in the region were suspended in large areas, resulting in a significant decrease in operating income as compared with the same period last year.
3. The technical service and logistics were affected by the macroeconomic fluctuation, and the technical service and transportation were hindered, so the operating income decreased by 23.32 million yuan; the supervision and testing was changed due to the bidding method, the contract stock was less, and the supervision service rate was reduced, so the operating income decreased by 19.43 million yuan;
4. Revenue from other businesses decreased by RMB18.6 million as compared with the corresponding period of last year. Net profit attributable to shareholders of the listed company from January to December
2022 was RMB-519 million, representing a decrease of RMB559 million or 1,397.50% as compared with RMB40 million in the same period of last year. Net profit attributable to the listed shareholders for
the reporting period was mainly reflected in three segments, namely, building materials, construction and mineral products and others, among which cement is a basic raw material industry and a regional product, and its sales radius is subject to the mode of transportation and the local cement market price. With the new cement production line in Xizang being put into operation, the supply of cement increased; The demand was mainly reflected in infrastructure construction. As of the reporting period, the construction of key projects in the autonomous region had not yet commenced, the demand decreased, and the market was affected by the region, resulting in a decline in cement sales. In addition, the coal resources in the region were scarce, highly dependent on the supply outside the region, the transportation distance was long, the production cost tended to be high, and the net profit attributable to the shareholders of the listed company was -146 million yuan.
Affected by the production of new cement production lines, the decline in sales volume and sales price of Xizang, the net profit from January to December 2022 decreased significantly compared with the same period last year, and the investment income was 9.7783 million yuan calculated according to the 30% equity ratio of high-tech building materials held by the company.
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