[Special Topic] Comparative Analysis on the Development of Commercial Mixed Business of Listed Companies in the First Half of 2023

2023, 27 listed companies achieved a total revenue of 43.757 billion yuan, a decrease of 6.68% compared with the same period last year, a decrease of about 10.38 percentage points compared with the same period in 2022.

In terms of total revenue, in the first half of 2023, China's building materials industry achieved a mixed revenue of 13.748 billion yuan, which remained at the top of the industry. Western Construction and Shanghai Construction Engineering still ranked second to third in commercial mixed income, while Huaxin Cement and Huarun Cement ranked fourth and fifth respectively. The top five listed companies achieved a total commercial mixed income of 35.913 billion yuan, accounting for 82.07% of the total commercial mixed income of 27 listed companies, a decline of about 0.41 percentage points compared with the same period in 2022. Finally, Asia Cement, Tailin Kejian, Xinwei International, Huaibei Green Gold and Suning Global's mixed business revenue in the first half of the year ranged from 0.09 to 0.77 billion yuan, ranking in the bottom five.

From the perspective of income growth, in the first half of 2023, 18 listed companies'commercial mixed income decreased year on year. The companies with a decline of more than 40% were ST Shentian (-60.68%), Xinwei International (-52.33%), Zhixin Group (-48.46%), Asian Cement (-48.35%) and Suning Global (-40.91%), while the mixed revenue of the remaining 13 listed companies fell between 1.03% and 39.65% year-on-year.

At the same time, 9 listed companies achieved year-on-year growth in commercial mixed revenue. Among them, the largest increase was Huaxin Cement, whose commercial mixed revenue increased by 58.53% year on year. The remaining eight companies with revenue growth ranked Shanghai Construction Engineering (42.69%), Western Cement (32.42%), Sifang New Material (30.03%), Conch Cement (21.80%), ST Sansheng (14.43%), Tapai Group (8.70%), Hainan Ruize (2.71%) and Tailin Kejian (0.04%).

Table 1: Commercial Mixed Income of 27 Listed Companies in the First Half of 2021-2023 (Unit: 100 million yuan,%)

Data Source: Cement Big Data (https://data.ccement.com/)