On May 6, the record of investor relations activities of Jinyu Group showed that in the first quarter of 2024, the effective demand was still insufficient due to multiple factors;
In the second quarter, the construction of infrastructure, real estate and key projects resumed one after another, and the effective demand was released to a greater extent. From the situation in April, the production and sales volume of cement increased significantly on a month-on-month basis. In addition, the cost of sales per ton is expected to continue to decline, and the gross profit per ton of cement is expected to increase. What is the background of the
company's acquisition of China-Africa building materials? Jinyu Group said that as a large state-owned holding industrial group in Beijing, it has been paying attention to and planning international capacity cooperation with countries along the "Belt and Road" route and countries that have signed memorandums of cooperation.
In order to further promote the development of overseas cement business, straighten out the management relationship of South Africa Mamba Cement Co., Ltd. and make the management right consistent with the equity, Jidong Cement, a holding subsidiary, acquired 60% and 40% of the equity of China-Africa Building Materials held by Jidong Development and China-Africa Fund respectively. After the completion of the
acquisition, it will further enhance the efficiency of the company's management and decision-making, and lay a solid foundation for the company's cement business to expand overseas markets.
In the future, the Company will give full play to the role of China-Africa Building Materials as an overseas investment platform, comprehensively analyze the risk and return situation, make prudent decisions, and expand the overseas layout.
