On March 5, at the opening of the Third Session of the 14th National People's Congress, Li Qiang of the Premier of the State Council delivered an Report on the Work of the Government on behalf of the State Council. In introducing the tasks of the government in 2025 in the Report on the Work of the Government, Li Qiang proposed that we should develop new productive forces according to local conditions and speed up the construction of a modern industrial system. We will promote the integrated development of scientific and technological innovation and industrial innovation, vigorously promote new industrialization, expand and strengthen advanced manufacturing industries, actively develop modern service industries, and promote the accumulation of new momentum and the upgrading of traditional momentum. Li Qiang pointed out that in order to accomplish the goal of 2025, we must thoroughly implement Xi Jinping's economic thought, grasp the primary task of high-quality development, adhere to the unity of winning by quality and exerting scale effect, and achieve effective improvement of quality and rational growth of quantity.
adverse pressure, the senior management team of CNBM actively planned the development strategy, adjusted and optimized the main business structure, advanced and retreated, and promoted the transformation of development mode from scale-speed growth to quality-efficiency growth. In 2024, the net operating cash flow of the Group's basic building materials sector accounted for more than 38%, with new materials and new industries as the starting point, the layout of multiple S-shaped curves to resist the industry cycle and hedge the periodic surplus, the operating income of the new materials sector exceeded 100 billion yuan for three consecutive years, and the proportion of benefit support and profit continued to increase, which provided the next step of high-quality development. Won the first-mover advantage.
August 2024 is a landmark node in the development history of China's building materials: the State-owned Assets Supervision and Administration Commission of the State Council officially approved China's building materials to adjust its main business to "non-metallic material manufacturing and related capital investment, and to cultivate its main business as digital services for materials and related industries". The
new main business orientation is the starting point for China's building materials to achieve faster and better transformation. What will China's building materials do
in 2025?
Developing increment
, developing increment and doing addition is the first article in the four articles of "addition, subtraction, multiplication and division".
Zhou Yuxian said that China's building materials will expand market boundaries and increase market capacity from three aspects: overall development strategy, international expansion and development of new industries. In terms of
overall development strategy, compared with the past, there are three major changes in the new main business positioning of China's building materials industry: first, from the field of inorganic non-metallic materials to the whole field of non-metallic materials; second, emphasizing "capital investment" to further empower the functional positioning of state-owned capital investment companies; The third is to expand "digital services" and cultivate the future main business of digital services in materials and related industries.
"From inorganic non-metallic materials to non-metallic materials, the development space has doubled, and there are still many blank items in non-metallic materials.". We should seriously plan around the new main business, optimize the existing items and enter the blank items. Zhou Yuxian said. In terms of
internationalization expansion, Zhou Yuxian believes that under the background of saturation of domestic market and slowdown of domestic demand growth, promoting internationalization strategy is an inevitable choice for Chinese enterprises to survive and develop, but the specific mode of internationalization needs to be constantly adjusted and innovated.
In 2024, the internationalization strategy of "overseas reengineering" of Chinese building materials accelerated its layout, and the internationalization revenue of new material track increased year on year. 12
. Zhou Yuxian said that Chinese building materials people should keep the world map in mind and speed up the internationalization strategy of landing under the framework of the Group's "Ten-Year Action Plan for International Development". Promote the global layout, go out, go in, go up, strengthen the integrated, group and iterative "go out", strengthen the whole business, all elements, the whole process "go in", strengthen the operation mode, technology level, brand building "go up". In terms of the
development of new industries, in 2024, China's building materials industry will accelerate the building of the "second growth pole", with revenue exceeding 100 billion yuan and profits exceeding 10 billion yuan for three consecutive years. At the same time, investment support and demonstration guidance have been strengthened, and three landmark projects, such as special glass fibers for artificial intelligence, have been selected as the "Top 100 Projects" of the State Council SASAC for new industries.
Zhou Yuxian said that in the next step, the Group will focus on new industries from three aspects: First, focus on strategic landing and accelerate industrial gradient upgrading. We will continue to improve the gradient layout of new industries of 1 billion to 5 billion, 5 billion to 10 billion and 10 billion +, strive to achieve the gradient upgrading of wind power blades, refractories, coatings and display modules industries in 2025, and use multiple S-shaped curves to resist the industry cycle and hedge the stage surplus.
Second, we should focus on industrial laws and accelerate the optimization of development models. Attaching great importance to the characteristics of long innovation cycle, difficult market introduction, high uncertainty and fast industrial iteration, and combining with the actual situation of different products, flexibly utilizing endogenous growth, merger and acquisition reorganization and capital operation development modes, focusing on tackling key problems of scientific and technological innovation, optimizing industrial organization, gathering industrial elements, and cultivating industrial ecology. Accelerate the development of new industries.
Third, we should focus on key products and speed up the consolidation of new industrial clusters. Focusing on nine products with high budget growth and high efficiency, we should strengthen resource support and guarantee, and cultivate and expand new industries in clusters.
02
Optimizing the stock
, optimizing the stock and doing subtraction is the second article, and it is also a task that China's building materials must complete in 2025.
Zhou Yuxian said that China's building materials industry is a state-owned capital investment company, in accordance with the overall plan of "three centralizations", to speed up the flow of state-owned capital, to achieve progress and retreat, to retreat for progress. According to the actual situation of industry and products, we should speed up the transformation of ideas and actively "retreat" to achieve better "advance" through the transfer of property rights, replacement and the introduction of investors.
For example, basic building materials are the "ballast stone" business of China's building materials. In recent years, due to factors such as low demand, increased surplus and high cost, the depth of operation is under pressure and the depth of efficiency is declining.
In 2025, basic building materials will realize value increment under the new normal development of reduction. We should adhere to the combination of short-term output reduction and long-term capacity reduction, and the combination of temporary and permanent solutions to promote a new balance between supply and demand in the industry. At the same time, we should pay close attention to improving the basic skills of management, reduce costs and control costs, and continue to tap potential and increase efficiency. We should focus on "long-term transformation and upgrading", firmly promote the upgrading of "high-end, intelligent and green" and the three major transformations of "cement +, internationalization and double carbon", and constantly cultivate new momentum and advantages for development.
03
Grasping variables
, grasping variables and doing multiplication are the third article and the accelerator to achieve high-quality development.
In Zhou Yuxian's view, technological innovation, digitalization and greening are the three key variables.
In 2024, CNBM has made three major achievements in promoting industrial innovation through scientific and technological innovation: First, it has accelerated the output of high-quality innovative achievements. For example, the Group has passed the mid-term evaluation of the original technology source of inorganic non-metallic materials, the world's first 8. Second, it has accelerated the integration of the innovation chain and the industrial chain, and a number of innovative achievements have opened the "door to the market". A 100-ton T1100 carbon fiber engineering demonstration line has been built, and the world's longest 147-meter offshore wind power blade has been successfully offline. The third is the continuous optimization of innovative ecology, such as the Group taking the lead in building the China-Africa Green Building Materials Joint Laboratory in Nigeria.
In 2025, China Building Materials will focus on promoting the synergy and integration of scientific and technological innovation and industrial innovation. It is an important task for China Building Materials to transform samples into products, products into commodities, scientific and technological innovation advantages into comprehensive competitive advantages, and further into the commercial advantages of the group.
"Next step, we should transform the" key variable "of scientific and technological innovation into the" maximum increment "of high-quality development, achieve conventional growth by improving product quality and reducing production costs, achieve extraordinary growth through subversive new technologies, and achieve sustainable growth through iterative innovation." Zhou Yuxian said. The second key variable for
good multiplication is digitization. Zhou Yuxian said that digital transformation is a necessary question, and China's building materials should seize the opportunity of the era from "Internet +" to "data elements", and take digital transformation as a major "variable" for the development of the group, and give full play to the multiplier effect of data elements on the whole business.
In 2024, the digital transformation of building materials in China was accelerated, the "three systems" framework was initially built, the first batch of construction tasks were completed, one cloud and one network were built and put into operation, the supporting mechanism was basically formed, 10 quick-win projects were completed on schedule, new data value-added models were actively explored, and the security intelligent platform was exported to six state-owned enterprises. The digital economy of "I'm looking for a car" and "Jucaitong" is growing rapidly.
In Zhou Yuxian's view, the next step in the digital transformation of China's building materials is to focus on reducing costs, increasing benefits and improving efficiency, systematically solve how to get, manage and use data, and accelerate ideological change, organizational change and system remodeling. The whole business import data is realized around R & D, production, procurement, logistics, sales and management. Second, it mainly solves the problem of how to manage data, and realizes the whole process of data management around data access, data release, data conversion and data delivery. Third, it mainly solves the problem of how to use the data, and integrates the whole scene into the data around the promotion of data value.
In addition, in 2024, the green development of building materials in China has been steadily promoted, and carbon reduction at the source, carbon reduction in the process, carbon sequestration at the end and carbon in the whole process have been continuously strengthened. The pilot test of new low-carbon cement has been completed, carbon emission reduction has exceeded 25%, and the world's first zero-carbon glass fiber manufacturing base has been put into operation.
Zhou Yuxian said that in the next step, China Building Materials Group should realize the doubling of enterprise value through the coupling of economic, social and environmental benefits, constantly consolidate the green low-carbon index system, strengthen the supply of green low-carbon technology, and accelerate the transformation of green low-carbon industry and the transformation from energy consumption control to carbon emission control.
04
Improving quality
, improving quality, doing well in division and improving the rate of return on investment is the fourth article, which is also the requirement of Zhou Yuxian for the positioning of China Building Material State-owned Capital Investment Company.
Zhou Yuxian said that as a state-owned capital investment company, China Building Materials should attach great importance to the application of investment models. On the one hand, it should set different assumptions, input factors, key indicators, core risks and other parameters according to the distinction between mature, growth and achievement transformation industries, so as to guide investment practice with differentiated investment models; On the other hand, according to the different life cycle stages of products, we should keep a close eye on market changes and project landing, and constantly improve and optimize the investment model parameters. Enterprises at all levels should also strengthen the operation of all kinds of assets, implement the concept of division, accelerate the improvement of a series of indicators such as return on equity, total labor productivity, operating income rate and sales profit rate, and accelerate the improvement of the operation quality of state-owned capital investment companies.
In the field of state-owned capital investment, China's building materials industry has made technological breakthroughs in key areas through technological mergers and acquisitions, promoted industrial transformation and upgrading through mergers and acquisitions of start-up companies, and explored a new mode of reorganization and integration of new industries in order to realize the optimization of industrial layout through mergers and acquisitions of industrialized enterprises, so as to speed up the formation of real productivity in new industries. For example, through the establishment of the National Material Fund, China Building Materials has invested in Tianyue Advanced, a third-generation semiconductor enterprise, to achieve the listing of the Science and Technology Innovation Board; Initiate the establishment of a new material industry fund with an initial scale of 15 billion yuan to help new materials, semiconductors and other industries to cross the "Valley of Death" and transform their achievements, cultivate the selection track for the group's future main industries, and lead and leverage nearly 20 billion yuan of social capital to support the group's advanced ceramics, high-end composite materials, power generation glass, lithium film, etc. Accelerate the industrialization process; Beixin Building Materials Co., Ltd. acquired Carbury 78.
China Building Materials said that in the next step, the Group will focus on the three core investment directions of optimizing and upgrading basic building materials, industrialization of new materials and overseas business layout, focusing on the upstream and downstream of existing industries, with the main objectives of improving the industrial layout of the Group and improving the return on capital investment. Focus on investing in a number of projects with high input-output ratio, good growth, certain influence and driving force, while increasing restructuring and integration and capital operation, to promote the effective improvement of quality and reasonable growth of quantity of group investment, so as to lay a solid foundation for high-quality development of the group with high-quality investment.
Zhou Yuxian said that in 2025, China Building Materials Group will focus on the theme of high-quality development, accelerate the construction of a world-class material industry investment group, and better play the "three roles" of scientific and technological innovation, industrial control, and safety support. Strive to be "the vanguard of promoting high-level scientific and technological self-reliance and self-improvement, the vanguard of building a modern industrial system, and the vanguard of developing new quality productive forces", go all out to accomplish the objectives and tasks of the 14th Five-Year Plan, and lay a solid foundation for achieving a good start of the 15th Five-Year Plan.
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