According to incomplete statistics, there are about 34 listed companies developing commercial mixing business in A-share motherboard, Hong Kong stock and Taiwan stock, of which 8 companies take commercial mixing as their main business. The annual report of 2023 disclosed 26 listed companies with specific commercial mixed income, while Jinyu Group, Qingsong Jianhua, China Nengjian, Yatai Group, Fujian Cement , Anhui Construction Industry and Huasheng International did not disclose the data of commercial mixed business income. With regard to the sales volume, selling price, gross profit margin and payment collection performance of the listed companies in 2023, the detailed analysis is as follows:
I. More than 60% of the enterprises' commercial mixed income declined, and the decline in the total revenue scale narrowed
. In 2023, 26 listed companies achieved a total commercial mixed income of 94.828 billion yuan. The year-on-year decrease was 5.29%, and the decline was about 11.76 percentage points narrower than that in 2022.
From the perspective of total income, in 2023, China's building materials industry achieved a mixed commercial income of 28.905 billion yuan, still ranking first in the industry; the second to fifth mixed commercial income were Western Construction, Shanghai Construction Engineering, Huaxin Cement and Huarun Building Materials Technology, and the ranking did not change. The top five listed companies achieved a total commercial mixed income of 77.501 billion yuan, accounting for 81.73% of the total commercial mixed income of 26 listed companies, down about 1.27 percentage points from 2022. Finally, Shangfeng Cement , Shentiandi, Leizhi Group, Tailin Kejian and Huaibei Green Gold's annual commercial mixed income is between 0.65 billion yuan and 166 million yuan, ranking in the bottom five.
From the perspective of income growth, in 2023, the mixed income of 16 listed companies decreased year on year. The companies with a decline of more than 30% were Shenzhen Tiandi (-51.49%), Zhixin Group (-44.09%), Huaibei Green Gold (-38.43%), Tailin Kejian (-36.55%) and Leizhi Group (-31.33%), while the mixed revenue of the remaining 11 listed companies fell between 7.88% and 26.66% year-on-year.
At the same time, 10 listed companies achieved year-on-year growth in commercial mixed revenue. Among them, the largest increase was Shandong Luqiao, with a year-on-year increase of 69.06%, followed by Huaxin Cement and Tibet Tianlu, with a year-on-year increase of 49.08% and 42.56% respectively; Gaoli Group (28.99%), Conch Cement (24.71%), Sifang New Material (19.39%), Shanghai Construction Engineering (18.01%), Hainan Ruize (12.02%), Zhongguancun (3.76%) and Western Cement (1.61%).
Table 1: Commercial Mixed Income of 26 Listed Companies in 2021-2023 (Unit: 100 million yuan,%)
Data Source: Cement Big Data (https://data.ccement.com/)
