On September 22, Huaxin Cement released a record of investor relations activities, the details of which are as follows:
Question 1: How does the company view the competitive landscape of the concrete industry and the issue of accounts receivable?
Answer: (1) When the cement bulk rate exceeds 50%, the concrete business will enter a rapid growth stage, which is also the best time to enter the concrete industry. Huaxin started to enter the concrete industry in 2005. Now Huaxin mainly promotes the integrated business model, which makes our concrete business have a strong competitive advantage.
(2) In the past, China's cement and aggregate business was also a credit model, but it was gradually changed by leading enterprises including Huaxin and formed a cash and spot business model. The current business model of concrete on credit also needs to be changed by leading enterprises. Huaxin's practice of controlling accounts receivable: under the integrated business model, it mainly promotes the business model of cash and spot, and reduces accounts receivable through a series of methods such as customer selection and internal credit control.
Answer: It is imperative for the cement industry to be included in the national carbon emission trading market, and the dual control of carbon emission intensity and total amount will become a problem to be faced by the industry in the future. Because the country's goal is to reduce carbon emissions, the carbon quotas obtained by enterprises are basically insufficient.
Referring to the experience of the European carbon emission trading market, the rise of carbon price in Europe is directly proportional to the rise of the whole cement price , but at the same time, the consumption of cement is declining. The rise of carbon price is not only conducive to protecting the environment, but also promotes the technological progress of the industry. & nbsp;
Question 3: How does the Company view future mergers and acquisitions in the domestic cement industry? & nbsp; & nbsp;
Answer: I personally believe that mergers and acquisitions in the cement industry will certainly occur in the future, and it is only a matter of time. In the future, C10 will account for 80% of the production capacity and C20 will account for 90%.
Huaxin Cement Xiangyang Company
Question 4: Can you introduce the market situation in Africa?
Answer: First of all, the cumulative per capita cement consumption in Africa is not high, and the current per capita annual cement consumption is less than 100 kg. There will be infrastructure demand in Africa in the future, but it will not be the Chinese model, so China's development model can not be copied to Africa.
Secondly, there are not many good mineral resources in Africa, which will bring some difficulties to the construction of the project.
Thirdly, the poor basic conditions and weak power supply in Africa affect the construction cycle of the project.
Huaxin's development in Africa is based on the local market demand to determine the size of the project, give full play to the ability to integrate various resources, not to destroy the balance of supply and demand in the local market for the purpose of business development. & nbsp;
Question 5: The overall capital expenditure and dividend distribution ratio of the Company in the future? & nbsp; & nbsp;
Answer: The overall capital expenditure of the Company will decrease year by year (excluding mergers and acquisitions), and the dividend distribution ratio will remain at the current level for the next 2-3 years. & nbsp;
Question 6: Is the effective range of the company's integration strategy only in the Yangtze River Basin? & nbsp; Answer: The production capacity of each production line of Huaxin is not very large. We believe that although large production lines have cost advantages, the radiation range is very short. Each of our production lines is designed according to regional consumption, and the production lines that are not near the river also have a better integrated radiation range.
Question 7: What is the relationship between the future competition pattern of the cement industry and the carbon emission index? Answer: I personally judge that the future trend of the cement industry is "two highs and one low", that is, the cement price and the cement carbon price rise, while the cement consumption decreases. At present, there are three lows, namely, the decline of cement price, the decline of cement carbon price and the decline of cement demand. Three lows are unsustainable, and two highs and one low are the necessity of transformation and development. & nbsp;
Question 8: What is the goal of the company's overseas development? & nbsp; Answer: Huaxin's overseas development focuses on three points: first, winning glory for the country and responding to the country's "the Belt and Road"; second, benefiting the local area and creating employment and tax revenue for the local area; Third, expand the market and make money for enterprises. Overseas business will be the most eye-catching business in Huaxin's future development, and it is our goal to build Huaxin into a world-class multinational company.
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