Recently, the semi-annual reports of cement listed companies in 2023 have been published one after another, and the benefits of each company have declined to varying degrees.
Conch Cement announced the semi-annual report of 2023. During the reporting period, the Group's operating income was 65.436 billion yuan, up 16.28% from the same period last year; the net profit attributable to shareholders of listed companies was 6.468 billion yuan, down 34.26% from the same period last year; The sales volume of cement clinker products was 130 million tons, representing a year-on-year increase of 1.78%. In the market where the price of cement has dropped sharply and the demand has shrunk, the sales volume of Conch Cement has increased again. I can't help thinking of a sentence: a real warrior, dare to face the bleak life, dare to face the dripping blood.
The world's cement looks at China, and China's cement looks at conch. The world cement looks at China, the volume of China's cement, and the development speed of China's cement. China is the largest cement producing and consuming country in the world, so the trend and development of the global cement industry will be affected by the Chinese market. Chinese cement looks at conch, what does conch look at? Conch Cement was once the largest cement enterprise in China, and the trend and development of the domestic cement industry will also be affected by Conch Cement. Since China Cement looks at conch, conch not only affects the industry, but also drives the industry and leads the industry, which can reflect that China Cement looks at conch. It
has been said that it is a "price butcher", and I am afraid that price reduction is also a helpless move. Walking along the Yangtze River, Xijiang River, Pearl River and coastal areas in 2023, from industry giants to small and medium-sized enterprises, all reveal the hatred and helplessness of conch's independence and incompatibility with the industry. Based on its layout advantages along the Yangtze River and coastal areas, the sales of Conch Cement have broken the geographical restrictions and "violated" the surrounding provinces and cities along the Yangtze River and coastal areas along the water transport, resulting in the suffering of enterprises in these areas. Fight, without capital, without competitiveness, hurt the enemy one thousand, self-loss one thousand two hundred, or even one thousand five hundred. Do not fight, watching the conch cement continue to invade the local cake, in addition to the use of off-peak kiln shutdown, barely maintain a reduction in inventory, it seems that there is no measure to deal with the conch's encroachment on the market. As the largest consumer market in the country, East China is now at the forefront of the decline, complaining bitterly. He used to drive a production line like a "money printing machine", but now he has to take off all the underpants that may be lost. Profit, loss, like turning over a book, fast.
From 2019 to 2020, the total profit of the industry was 180 billion for two consecutive years, and in 2021, the total profit of the industry also exceeded 160 billion, almost the whole industry was profitable. In just two years, the industry has been beaten back to its original shape. No, it's not the original shape. Maybe it's a new low in the past 30 years. It's only been two years. What has changed in these two years? The industry seems to have pointed its finger at the giant enterprises along the Yangtze River, such as Conch, Huaxin, Oriental Hope and Jinfeng.
Put a good day, however, why would the conch have such a move? Everything has its cause and effect. Since 2016, industry profits have increased year by year, but with the increase of profits, cement production capacity has also increased year by year. When the price of cement is high, enterprises play their own small ideas under the card table. Driven by the high price, the expansion of cement sales is needless to say. Due to the limitation of off-peak production and other factors, increasing the output per hour and expanding the production capacity per hour have become the main theme of the industry in recent years. The actual production capacity exceeds the approved production capacity by 40%, and may be even higher. In addition to the transformation, the reduction and replacement of the industry has brought overcapacity to a new level, on the one hand, the revival of the so-called zombie capacity, on the other hand, the improvement of technological level. Over the past few years, the money earned by the cement industry has been re-invested in the expansion of production, and the results of supply-side reform have come to naught.
On the contrary, a few years ago, Conch Cement was guarding the bottom line, guarding its own one mu and three parts of the land. In fact, no one is stupid, everyone's heart is like a mirror, conch is typical, few people are ruthless . If you don't fight, you will. What would you do if you put yourself in others' shoes and watched your peers gradually expand their production capacity, upgrade and replace their guns? This unbalanced mentality is the same everywhere. Especially in the process of capacity growth and sharp decline in demand, conch must once again shine its sword and use the law of the jungle. Otherwise, when the market goes down at the waist, it may be more painful. In this way, the conch shakes its fist and shows its muscles.
However, from the perspective of the industry, Conch Cement, as the leader of the industry, can not win the respect of the industry when waving a big knife, but only get the title of "price butcher". Under the current situation, conch can have such a profit level, still can not do without the efforts of the industry, in the implementation of peak staggering production at the same time, conch still maintains a high operating rate, from the production cost, so that the gap between conch and other industries is greater, once again Davis double kill. It is not only the conch that has achieved itself, but also the industry that has achieved the conch. Conch Cement, by virtue of its geographical advantages and first-mover advantages, crushes the vast number of private small and medium-sized cement enterprises in the downward period of the market, which seems absolutely unfair and unworthy of the reputation of "China Cement looks at Conch". Conch Cement should raise the muzzle one foot to lead the industry and brotherly enterprises out of the predicament and achieve high-quality development, especially in green development, social responsibility, innovation and cooperation.
First, green development. The industry should operate in a green and sustainable way, adopt more advanced energy saving and emission reduction technologies, and reduce the negative impact on the environment. The green transformation of the industry needs effective support, and vicious competition is not in line with the development interests of the industry.
Second, social responsibility. Participants in the industry should assume social responsibility, actively participate in social public welfare activities, respect the rights and interests of employees, and pay attention to social issues.
Third, innovation and cooperation. Participants in the industry should actively innovate and promote technological progress and business model innovation. Conch Cement should lead and promote technical cooperation in the industry, play a role in carbon reduction, help the industry to establish a standard mechanism, and promote the cement industry to achieve the goal of double carbon ahead of schedule. In order to develop the ecology of
an industry healthily, we need to take the lead in maintaining the big brother, the second brother and the third brother, instead of fighting each other. Competition in the industry is indispensable, but at least it should be rational competition, not to obtain orders at absolute low prices. Diversified competition can promote innovation and improve the quality of products and services.
Continue to fight, who can not kill who, the whole industry is fighting to break the net, what is the point? This is not a situation that everyone wants to see.
Looking back at the 180 billion in 2019, it's beautiful to think about it.
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