Shangfeng Cement released its third quarter report on the evening of October 29. Under the situation of weak market demand and sharp decline in product prices and profits in the cement industry, Shangfeng's "one main and two wings" business structure showed strong development resilience, the effect of cost reduction, efficiency enhancement and cost control in the main industry was obvious, the gross profit margin and return on assets and other indicators maintained the leading position in the industry, and the investment wing began to continue to contribute to revenue, achieving a year-on-year increase in net profit in a single quarter.
Announcement shows, company the 3rd quarter realizes battalion to close 14.23 yuan, 同比下降14.71%, the net profit that implementation belongs to appear on the market at the company partner 0.234 billion yuan, grow 38.09% compared to the same period; Before 3 quarters accumulative total realizes battalion to close 3.815 billion yuan, drop 21.77% compared to the same period; Net profit attributable to shareholders of the Company amounted to 4.04 RMB100 million, representing a 同比下降42.27 of%, net profit after deduction of non-recurring profit or loss of RMB366 million , and net operating cash flow of RMB737 million. In the first three quarters, the comprehensive gross profit margin of the Company's operating business was 26.71%, and the average return on net assets was 4.53%. The volume and price of the
main products of the company decreased year-on-year, of which the average selling price of cement products decreased by 14.46% and 熟料单位平均售价同比下降22.82 % year-on-year; However, the company has achieved significant optimization of energy consumption and cost through innovative processes such as fuel substitution and raw material substitution, and the coal consumption and power consumption of main products have continued to decline. The extension of the
building materials industry chain has effectively enhanced the company's comprehensive competitiveness and profitability resilience, the aggregate business in the first three quarters of the cumulative sales of 632.27 million tons, net profit contribution accounted for more than 20%, Duyun Shangfeng new aggregate projects continue to advance ; The environmental protection business of cement kiln collaborative disposal has disposed of a total of million tons of 20.39, with a 实现营业收入1.11 of 100 million yuan, and the construction of Anqing Huaining New Solid Waste Project has begun; As to the new energy business, the 23.62 of photovoltaic power plants put into operation was MW, the accumulated power generation in the first three quarters was 1kWh, and the accumulated discharge of energy storage power plants was 714,400 kWh. The low-carbon power generation was equivalent to saving standard coal of approximately 4,072 tonnes and reducing carbon dioxide emission of approximately 11,160 tonnes.
The company's continuous equity investment business in the fields of semiconductor, new materials and new energy has gradually entered the harvest period , including a series of forward-looking layouts for superior enterprises such as Crystal Integration, Hefei Changxin, Shenghe Crystal Micro, Pioneer Electrical Science, Shanghai Super Silicon and Onruiwei; Among them, the shares held by Jinghe Integration (stock code: 688249) have been listed and lifted, and Shenghe Jingwei, Onruiwei and Shanghai Super Silicon have entered the guidance period of listing; On October 13, 2024, Guangzhi Science and Technology (Stock Code: 300489) announced that it intends to acquire 100% of the shares of Pioneer Electrical Science by issuing shares and paying cash, while Shangfeng Cement indirectly holds 0.68138% of the shares of Pioneer Electrical Science through the fund, according to Hurun Research Institute's 2024 Global Unicorn Enterprise List. Pioneer Electronics ranked 320th with a valuation of 21 billion yuan. Since the end of the
third quarter, the price of cement products in East China has risen, the prosperity of building materials has recovered , and Shangfeng is expected to take the lead in benefiting from its strong competitive efficiency advantage. And its unique new economic equity investment business will further help the company maintain steady growth in performance as the semiconductor, new materials and other technology industries usher in an upward cycle.
