Recently, Jinyu Group answered the question about the comprehensive cost of cement in the first three quarters in the investor relations record form? Cement demand forecast in 2024 and other issues.
Q: How about the sales volume of cement and clinker in the first three quarters? What is the forecast for cement demand in 2024?
Answer: In the first three quarters, the Company sold a total of 72.07 million tons of cement and clinker, representing a year-on-year increase of 7%. Under the background of the continuous introduction of policies such as urban village reconstruction and post-disaster reconstruction, it is expected to boost the demand for cement market in 2024 and maintain the overall sales volume at the same level as this year.
Question: The first three quarters performance of the company's real estate development business and the industry outlook for 2024?
Answer: From January to September 2023, the real estate sector realized an operating income of 10.758 billion yuan, a year-on-year decrease of 37%, a gross profit rate of 9.28%, and a contract value of 17.7 billion yuan, a year-on-year decrease of 23%. At present, the price of new housing market shows signs of stabilization, and the real estate market will continue to differentiate in the future, with different regions, different plots and different products showing different performances. In the future, the demand for improved housing in first-and second-tier cities will be the main demand, and the acquisition of high-quality land driven by such products will be more competitive.
Ask: In 2024, what will be the gross profit rate of the company's real estate carry-over?
A: Next year is expected to be the same
as this yearQ: Is there any estimate of how much demand for cement will be brought about by the issuance of treasury bonds for post-disaster reconstruction?
Answer: The company has been actively participating in the reconstruction work in the disaster-stricken areas such as Beijing-Tianjin-Hebei and Northeast China. The issuance of trillions of treasury bonds will improve the demand for cement in these areas and promote the stabilization of the market next year to a certain extent. Of course, it will take some time from the policy landing to the construction of infrastructure projects. But in the long run, it is good for the company's cement business.
Q: What is the comprehensive cost of cement in the first three quarters?
Answer: The gross profit margin of the Company's cement business in the first three quarters was approximately 14.51%, and the cost per ton of product decreased by more than 13% as compared with the same period. The cost reduction is mainly due to the following factors: first, the procurement cost is reduced through the centralized procurement of raw coal, mineral powder and other bulk raw materials and fuels; second, the production cost is reduced through measures such as improving the substitution rate of raw materials and fuels and energy-saving and consumption-reducing transformation; third, the cost is reduced through fine management.
Ask: What is the comprehensive tax rate in the first three quarters?
Answer: The income tax rate exceeded 25% in the first three quarters, which was mainly due to the decrease in the overall gross profit margin of the building materials and real estate industries in the first three quarters, the loss of some enterprises, and the principle of prudence without provision for deferred income tax expenses. In the future, with the recovery of market demand, the company will continue to reduce and control costs, dig deep to create efficiency, improve economic efficiency, and the income tax rate will return to the normal level.
Q: New Materials Business Outlook 2024?
Answer: From January to September 2023, the gross profit rate of new material business is 15%, and it is expected that the change in 2024 will not be too big compared with this year.
Q: How is the capital expenditure this year?
Answer: The proportion of land expenditure in the capital expenditure plan of the company is relatively large. Since there is no new land reserve this year, the capital expenditure is lower than original plan.
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