Comprehensive review: In the first half of 2024, Conch Cement achieved an operating income of 45.566 billion yuan, a year-on-year decrease of 30.44%; Net profit attributable to parent company was RMB3.326 billion, representing a year-on-year decrease of 48. In the first half of this year, Conch Cement aimed at the established goals, actively responded to external challenges, continued to promote industrial extension, continued to expand overseas business, and steadily increased market share. Affected by the overall market environment, the operating income and profit attributable to the parent company declined, but it still led the industry colleagues, the financial structure was safe and stable, and the foundation for sustainable development was further consolidated.
Figure 1 and 2: Conch Cement Revenue in the First Half of 2024, Decline in
profit Data source: Cement Big Data (https://data.ccement.com/)
Decline in both volume and price of main business and decline
in various profit indicators In the first half of this year, affected by the continuous bottoming of real estate and insufficient funds for infrastructure projects. The demand for cement in China continued to decline, and the sales volume of self-operated cement clinker of Conch Cement was 126 million tons, down 3.08% year on year; The company mainly operates in East China, Central South China and other regions with fierce market competition and obvious price weakening. The average selling price of self-operated cement clinker was RMB239.76/ton, representing a year-on-year decrease of 21.
Figures 3 and 4: Decrease
in both volume and price of cement clinker in the first half of 2024 Data source: Cement Big Data (in the first half of https://data.ccement.2024, The company's comprehensive gross profit rate was 18.93%, a slight decrease of 0.5 percentage points over the same period last year; earnings per share was 0.63 yuan, a decrease of 48.36% over the same period last year; Compared with the same period, the return on equity decreased by 1.68 percentage points to 1. Affected by the double decline of income and financial income, the company's three-fee rate reached 8.39%. Added 2.
Table 1: Main operation data
of Conch Cement in the first half of 2024 Source: Cement Big Data (https://data.ccement.2022) Conch Cement actively adjusted its operation strategy and reversed the situation of declining market share year by year. And began to rebound. In the first half of this year, the company focused on the target task, overcome unfavorable factors, strengthen the construction of the terminal market, cement sales outperformed the industry as a whole, and the market share continued to increase, reaching about 12.5%.
Figure 5: Market share of Conch Cement increased
steadily Source: Cement Big Data (https://data.ccement.2024) In the first half of 2017, Conch Cement continued to promote the integrated business development of the cement, aggregate and commercial mixing industry chain in an orderly manner. Among them, 2 million tons of aggregates were newly put into production, and the operating income was 2.19 billion yuan, an increase of 29.8% over the same period last year; Concrete production capacity increased by 4.8 million cubic meters, and revenue reached 1.18 billion yuan. Year-on-year growth 20.
Figures 6 and 7: Revenue
of Conch Aggregate and Commercial Mixture Business in the First Half of 2024 Source: Cement Big Data (https://data.ccement.2024) In the first half of the year, the Company steadily promoted its overseas business. Strive to improve the quality and efficiency of operation, and achieve operating income of 2.3 billion yuan, an increase over the same period last year. 5. Affected by exchange rate fluctuations, the company's overseas projects suffered exchange losses, which led to a significant decline in operating efficiency.
Figure 8: Conch Cement's overseas revenue continues to grow
Data source: Cement Big Data (https://data.ccement.com/)
Financial situation is safe and stable, laying a solid foundation
for sustainable development Conch Cement has maintained a low-debt operation all the year round, which is also one of the important advantages of its leading colleagues in the industry. In 2024, the company's asset-liability ratio 19. In terms of operating cash flow, the company optimized its asset structure, improved the liquidity of effective assets, and achieved an increase in net operating cash flow despite the decline in operating income in the first half of the year. The company's financial structure remained stable and safe, further consolidating the foundation for sustainable development.
Figure 9: Trend
of net cash flow and asset-liability ratio of Conch Cement Source: Cement Big Data (https://data.ccement.) In addition, under the background of the industry's "anti-involution" and self-discipline self-help awareness, cement prices may have some room to rise in the second half of the year. It is expected that the company's economic performance will improve to a certain extent, but it is difficult to reach the same period level.
