lasted for several years, ushered in significant changes in 2022.
Whether Jinyuan shares sell 100% of Qinghai Mutual Aid Jinyuan Cement , Kunming Iron and Steel Holding Co., Ltd. Or Huarun Cement sold 72% of Huarun Cement (Changzhi) Co., Ltd. and 72% of Huarun Concrete (Lucheng) Co., Ltd. Or the 2500 tons/day cement clinker production capacity index of Miaoling Building Material Branch of Guizhou Crystal Organic Chemical (Group) Co., Ltd., a subsidiary of Guizhou Crystal Organic Chemical (Group) Co., Ltd.
In the events of equity transfer, asset sale and equipment sale of cement enterprises involved in 2022, it is not difficult to see that in previous years, the hot situation of major cement enterprises "snatching" indicators and "snatching" purchasing enterprises has become "cold" , replaced by selling assets and equity. From actively "buying and buying" to actively "selling and selling", the grim situation of the cement industry this year is also evident.
According to the incomplete statistics of China Cement Network, there are nearly 40 cases of equity and asset transfer in 2022, some of which do not disclose the transfer price. The amount involved has already exceeded 15 billion . Interestingly, apart from some cases of mergers and acquisitions within the group, after entering the second half of the year, the number of cement enterprises selling assets, equity and capacity indicators has increased sharply. Since
2022, the cement industry has been facing an extremely severe situation due to the downward demand, high coal prices, repeated epidemics and other comprehensive factors. The profits of most cement enterprises have declined sharply, and even some enterprises have begun to suffer losses.
Cement Big Data Research Institute predicts that the total profit of the cement industry will decline by more than 50% in 2022, and there is a tendency to return to the supply-side reform. In the future, the demand for cement will enter the downward channel, and the benefits of the industry will be difficult to return to the peak state. The huge pressure of survival is undoubtedly the direct reason for cement enterprises to frequently list and transfer assets and optimize the allocation of resources.
In addition, under the development goal of "double carbon" in China, and under the requirements of policy documents such as "Benchmarking Level and Benchmark Level of Energy Efficiency in Key Areas of High Energy-consuming Industries (2021 Edition)" and "Implementation Plan of Carbon Peak in Building Materials Industry", it is urgent for the cement industry to accelerate transformation and upgrading and take the road of green development. On the one hand,
cement enterprises should cope with the pressure of declining business performance, on the other hand, they should increase cost input for energy-saving transformation. Small and medium-sized enterprises have obvious disadvantages in market operation, technological innovation and other aspects. During the downturn of the industry, they should choose the opportunity to sell low-quality assets. It is undoubtedly a wise choice to actively seek transformation.
Under the environment of high profits and high industry prosperity, the contradiction of serious excess cement production capacity may be temporarily "covered up", and when the industry environment becomes increasingly severe, the drawbacks of excess production capacity are increasingly apparent, and small and medium-sized enterprises lacking core competitiveness will also be actively "eliminated" by the market.
From the above aspects, the phenomenon that large enterprises speed up mergers and acquisitions, and small and medium-sized enterprises with weak competitiveness actively seek "buyers" may be the inevitable trend in the future, and the industry will also usher in a new layout shuffle. Facing the increasingly sharp market competition and the significantly shrinking market demand, many
enterprises withdraw from the cement business
, which is also the choice of many enterprises. In response to investors'questions on an interactive platform,
Hainan Ruize said that before the company sold Jingang Cement Plant, there were four major business sectors, namely, commercial concrete, municipal sanitation, landscaping and cement. The main business of the company will be changed to commercial concrete, municipal sanitation and landscaping, and the company will no longer have cement production business. In March 2018, Jinyuan, which
has been renamed "Jinyuan Environmental Protection Co., Ltd." , announced that in order to meet the needs of capital strategic planning and industrial planning development, it would strategically withdraw from the traditional building materials and cement business and divest inefficient assets at an opportune time. In order to improve the efficiency of asset use and asset quality, the company intends to transfer 100% equity of Qinghai Mutual Aid Fund held by the company through public listing in Hangzhou Property Exchange Co., Ltd. In August
2022, based on the comprehensive factors such as the upgrading of the national cement industry policy and the current situation of the company's cement business operation, the company's cement business no longer has the economic conditions for technological transformation and equipment renewal, and intends to shut down the cement grinding station. After the cement grinding station stops production, it will no longer engage in cement production and operation business.
Whether it is listing and transferring assets or withdrawing from cement business, it can be regarded as a positive self-help in the severe environment, and for those enterprises that have not yet taken action, whether to continue to upgrade and arm themselves or to seek a new way out should be an urgent proposition to think about.
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