Jidong Cement: It will further increase its investment in South Africa

2024-10-15 16:33:02

Ren Qianjin, secretary of the board of directors of Jidong Cement, said. In order to cope with the slowdown of demand in the cement industry, the company first cultivates lean marketing, continuously optimizes the market layout, product structure and channel structure, optimizes the market share of cement segments, vigorously expands the market of customized, special cement and home decoration cement, and creates differentiated competitive advantages; The second is to play the leading role of large enterprises, unswervingly promote off-peak production and industry self-discipline, do a good job in short-term regulation of the supply side, steadily improve the market price, and ensure the company's reasonable profits for the current period. The third is to actively respond to the national "double carbon" strategy and relevant industrial policies, actively promote the industry's medium- and long-term capacity reduction work, and enhance the industry's profitability.

Recently, investors asked Jidong Cement: How can company cope with the recent slowdown in demand in the domestic cement industry? Are you considering developing new business areas or overseas markets? Ren Qianjin, secretary of the board of directors

of Jidong Cement, said. In order to cope with the slowdown of demand in the cement industry, the company first cultivates lean marketing, continuously optimizes the market layout, product structure and channel structure, optimizes the market share of cement segments, vigorously expands the market of customized, special cement and home decoration cement, and creates differentiated competitive advantages; Secondly, the Company will give play to the leading role of large enterprises, unswervingly promote off-peak production and industry self-discipline, do a good job of short-term regulation on the supply side, steadily increase market prices, and ensure reasonable profits for the current period. Thirdly, the Company will actively respond to the national "double carbon" strategy and relevant industrial policies, actively promote the medium- and long-term capacity reduction of the industry, improve industry concentration, and achieve sustainable and healthy development of the industry. In the future,

the company will further increase its investment in South Africa, actively seek investment opportunities in countries along the Belt and Road, steadily develop overseas business, and provide new momentum for the company's high-quality development.

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Adani is also a big man in the Indian cement industry and is the second largest cement producer in India. He entered the industry in 2022 with the acquisition of Holcim's cement business in India, which acquired about 70 million tons of cement per year for $10.5 billion. Adani plans to expand its annual cement production capacity to 140 million tons by 2028. Adani has previously invested $1.6 billion to acquire Sanchi Cement and Penna Cement, and is expected to acquire an additional 21 million tons of production capacity.