Recently, Jidong Cement released a record of investor relations activities to answer questions about the company's future development strategy.
1. Volume and price of cement business of the Company in 2024? What are the highlights of the sub-region?
Dear investors, in 2024, the company's cement clinker sales volume was 84.4 million tons, down 9.48% from the same period last year, which was better than decline in 13 provinces radiated by the company. Aggregate sales increased by 47% year on year. The comprehensive average price of cement clinker excluding tax was 244 yuan/ton, down 5% year on year, outperforming the average level of the industry. From the perspective of different
regions, the Pan-Beijing-Tianjin-Hebei region has implemented the policy of opening two stops and staggering the peak in the non-heating season, adhered to the dynamic balance of volume and price, and maintained a stable average price throughout the year. The Pan-Northeast region has promoted rigid and precise peak staggering. Since May, the mainstream product 42.5 has been re-priced at 150-200 yuan/ton, and the average price of the whole year has increased by 60 yuan/ton; In the second half of the year, Shaanxi, Chongqing, Hunan and Yantai regions reshaped the industry ecology and urged prices to stop falling and rebound. In the second half of the year, the cumulative price of mainstream products was 100-170 yuan/ton. Thanks for your attention.
2. How was the business in the first quarter? How about the price of cement clinker?
Dear investors, the overall sales volume of the company in the first quarter was basically the same as that of the same period last year, the comprehensive price of cement clinker increased by more than 20 yuan/ton, the cost decreased year on year, and the gross profit rate increased significantly. Thank you for your interest.
3. What is the growth point of the company's future earnings?
In 2025, the company will tap the potential of operation and management, improve efficiency and efficiency in an all-round way, and continue to build core competitiveness. First, market-oriented, enhance differentiation and new product value creativity. Give full play to the role of a unified market, segment the market and customer differentiated demand, continue to promote market synergy, and raise prices steadily. Second, dig deep into material procurement and make every effort to reduce procurement costs. Optimize the procurement of coal centralized mining channels and spare parts and auxiliary materials, and strengthen the management and control of regional centralized mining. Third, optimize production and operation management, vigorously reduce operating costs, energy saving and consumption reduction work lean, and promote the continuous improvement of production efficiency. Fourth, we should give full play to the efficiency of financial management and control and reduce financial costs.
4. What is the current profitability of the company?
Dear investors, the overall sales volume of the company in the first quarter was basically the same as that of the same period last year, the comprehensive price of cement clinker increased by more than 20 yuan/ton, the cost decreased year on year, and the gross profit rate increased significantly. Thank you for your interest.
5. Hello, I would like to ask the company's secretary, how about the company's follow-up acquisition plan? In the future,
the company will adhere to the Beijing-Tianjin-Hebei region as the core, North China as a whole, Northeast and Northwest as the wings, and integrate vertically through horizontal integration such as capacity replacement, merger and reorganization, resource reserve increase, internal resource optimization, industrial chain extension and industrial system reconstruction, while actively seeking investment along the Belt and Road in the future. Steady development of overseas business. The company insists on quality increment, integrates and merges high-quality assets, and forms a new pattern of reasonable layout structure and regional coordinated development.
6. Is it compliant for the company to pay cash dividends in the case of losses? The accumulated undistributed profit of the
Company is positive, and the dividend distribution does not violate the provisions of laws and regulations in the case of current losses. The Company also simultaneously revised the relevant contents of dividend distribution in the Articles of Association, and the dividend distribution is compliant. The company also issued a three-year return plan to give back to all shareholders.
7. Sales proportion, average price and market space outlook of the company's special customized cement?
In 2024, the company sold 4.86 million tons of special and customized cement, up 47% year-on-year, accounting for 6% of sales. The average tax-inclusive price is higher than average price of the whole company, especially the profit contribution of moderate to low fever, oil wells, iron standard cement and other varieties. Judging from the situation in 2024, the demand for special scenarios such as water conservancy, nuclear power and pumped storage will continue to grow, and the company will increase the R & D and promotion of special and high-performance cement products such as moderate to low fever, oil wells, nuclear power, Ryu (iron) aluminate and high Belite, while intensively cultivating the civil market and promoting low carbon. And extend and expand the mortar market. It is estimated that in 2025, special and customized cement will increase by 40% year-on-year, and the proportion of sales will increase to 8%.
8. How much is the company's interest-bearing liabilities and what is the company's financing situation?
By the end of December 2024, the company's total consolidated interest-bearing debt was 20.4 billion yuan, a decrease of 200 million yuan compared with 20.6 billion yuan at the beginning of the year; The Company had smooth financing channels and maintained long-term close bank-enterprise cooperation with major large banks. Through continuous promotion of refined capital management, the financing cost continued to decrease. By the end of 2024, the average financing cost of the Company was 2.6%, and the financial cost in 2024 decreased by 50 million yuan compared with the same period last year.
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