first half of 2024, Huaxin Cement achieved good results overseas.
Recently, Huaxin Cement released the semi-annual report of 2024. In the first half of the year, the company realized operating income of 16.237 billion yuan, an increase of 2.56% over the previous year, and realized net profit of 731 million yuan belonging to the shareholders of the parent company, a decrease of 38.74% over the previous year; The sales volume of cement and commercial clinker was 28,484,400 tonnes, representing a year-on-year decrease of 4.9%, of which the overseas sales volume of cement and commercial clinker was 7,597,600 tonnes, representing a year-on-year increase of 47.0%. During the
reporting period, the Company's cement business realized an operating income of RMB8.666 billion, representing a year-on-year decrease of 11.25%, of which: the domestic cement business realized an operating income of RMB5.106 billion, representing a year-on-year decrease of 31.57%; Overseas cement business realized business income of 3.578 billion yuan, an increase of 55.41% over the same period last year.
Huaxin said that the improvement of aggregate and overseas cement sales and performance has become an important support for stabilizing the company's performance.
As one of the first Chinese cement enterprises to go out, as of June 30, 2024. Huaxin has been distributed in 12 countries including Tajikistan, Kyrgyzstan, Uzbekistan, Cambodia, Nepal, Tanzania, Zambia, Malawi, South Africa, Mozambique, Oman and Zimbabwe. The Company's overseas cement clinker production capacity is 15.44 million tons/year, and the cement grinding capacity has reached 22.54 million tons/year;
In addition, there are new production lines in Mozambique, new production lines in Malawi, production line upgrades in Zambia, production line upgrades in South Africa, grinding stations in Zimbabwe and other projects under construction. The total clinker production capacity under construction is about 3 million tons/year, and the total cement grinding capacity under construction is about 2.7 million tons/year.
It is understood that overseas development is one of the four major development strategies of Huaxin Cement. In the second half of the year, Huaxin said it would be aggressive and further expand its overseas market.
In addition, Li Yeqing, president of Huaxin Cement, said in the first half of this year that the company does not have too many restrictions on overseas development in the region. We will expand along a region, such as Africa in the recent stage. We are still looking for opportunities in Asia, and we will go to South America in the future. Huaxin is committed to becoming a global multinational company, so we will not stick to or confine ourselves to a certain country or region.
Li Yeqing said that in the future, Huaxin Cement may have production lines in 25 or more countries. As for the future target, 50 million tons should be a scale we need to reach in the medium term.
The picture shows Huaxin Yawan Cement Co., Ltd., the first overseas factory of Huaxin Cement, located in Yawan City, Khatlon Prefecture, Tajikistan, which was officially completed and put into operation
in August 2013.