On April 2, Western Construction (002302) released its annual report for 2024, which showed that its operating income was 20.347 billion yuan, a decrease of 11.01% compared with the previous year, and the net profit of shareholders belonging to listed companies was-263 million yuan, a decrease of 140.71% compared with the previous year. Net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was -334 million yuan, a decrease of 158.49% year on year, and basic earnings per share was -0.2283 yuan, a decrease of 146.55% year on year.
According to the annual report, as of the end of the reporting period, Western Construction has a design capacity of 119.39 million cubic meters of ready-mixed concrete, ranking second in China's ready-mixed concrete industry, and is one of the largest professional ready-mixed concrete listed companies in China. During the reporting period, the company is building five new investment projects in ready-mixed concrete production capacity, which is expected to increase production capacity by 4.7 million cubic meters after putting into operation. Based on the product characteristics that its main product, ready-mixed concrete, could not be stocked, the company adopted the production and marketing mode of "production based on sales" and "immediate production and sales" to carry out concrete sales business nationwide. During the reporting period, the company's production and sales of ready-mixed concrete products were 58.8481 million cubic meters, an increase of 0.62% over the same period last year.
Annual report data show that the western construction has achieved different degrees of business growth in Guangdong, Hainan, Shandong, Anhui, Fujian and Zhejiang; It is worth noting that the overseas layout of western construction has achieved remarkable results, with 103.69%, 94.97% and 100% business growth in Indonesia, Thailand and Malaysia, respectively.
Western Construction said in the announcement that the company focused on the national major strategic regional layout, adding 54 new mixing stations (including 40 major strategic regions) in Beijing-Tianjin-Hebei, Yangtze River Delta and Guangdong-Hong Kong-Macao Greater Bay Area, and first stationed in seven blind cities such as Hangzhou to achieve a contract volume of 80.1 million ready-mixed concrete in strategic regions (an increase of 18.5% over the same period of last year). Beijing, Guangdong and Anhui increased by more than 30%), simultaneously expanded overseas markets and successfully entered Papua New Guinea, promoting a substantial increase in overseas business indicators; deepened institutional reform and completed the annual target, achieving 100% online core business, 25% streamlining of process nodes, and 35% reduction in the number of systems; Breakthroughs have been made in the layout of strategic emerging industries, a special working group has been set up to anchor the new generation of information technology and other key areas, and with the help of "ready-mixed concrete", it has been selected as a single champion enterprise in the national manufacturing industry, with 18 international advanced scientific and technological achievements, 101 authorized patents, 16 main standards, 24 intelligent manufacturing achievements, and the first high in the industry. Four provincial-level "specialized, special and new" enterprises have been added, and relying on their technological advantages, they have expanded the field of nuclear power and wind power, served the construction of Lianjiang nuclear power and signed the project of Mengneng Wind Power Mixed Tower; Practicing green and low-carbon development, 7 new photovoltaic power plants and stations have been built, 11 plants and stations have been certified by energy management system, 24 stations have passed the certification of green building materials, more than 700 new energy vehicles have been put into use, more than 10 million tons of solid waste have been consumed throughout the year, a provincial green factory and 7 zero-carbon factories have been built, forming a brand system of building solid waste recycled aggregate concrete.
In addition, in the first half of 2024, OceanX Mingyang Tiancheng, the world's largest single floating wind power platform based on ultra-high performance concrete (UHPC) as the core material of floating platform, was launched in Guangzhou. The project fully demonstrates the strong scientific and technological innovation strength and achievement transformation ability of the western construction in the field of building materials, and marks a breakthrough in the engineering application of ultra-high performance concrete (UHPC).
Looking forward to the future, the company will continue to strengthen the development and layout of major national strategic regions, rapidly form output contribution, increase market share and market primacy, and achieve double improvement of "scale" and "efficiency". While promoting the admixture business and aggregate business, the Company continued to cultivate the industrial Internet business, iteratively upgraded the "concrete networking" platform of the concrete industry chain, and actively developed the national markets with better foundation and continued to develop new national markets.
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