24, Shangfeng Cement released its annual report and quarterly report, while highlighting a new five-year development plan and a dividend scheme with a dividend rate of up to 7.5%. In the case that the scale of production capacity has not entered the top ten of the industry, the company's annual net return to the parent company ranks third among the listed companies in the industry, the comprehensive gross profit rate ranks first among the listed companies in the industry, and the net return to the parent company in a single quarter increases by 447.6%. While maintaining the high efficiency of the main business, the company's equity investment performance is outstanding, and a number of invested semiconductor science and technology enterprises have started to apply for listing one after another. The newly released five-year planning report also clearly shows that its series of new economic equity investment accumulation will help the company to upgrade its quality and transform to the second growth curve business such as new materials, and the development space will be fully opened.
In 2024, the national cement market continued to be depressed, with both volume and price falling. In the face of heavy pressure, Shangfeng Cement insists on steady focus, intensive cultivation of "one main body and two wings", obvious effect of "increasing income, reducing cost, controlling cost and increasing efficiency", unit manufacturing cost, energy consumption and cost continue to decline, and the comprehensive gross profit level is still tenacious and stable in the case of obvious downward market price. The company's annual revenue was 5.448 billion yuan, down 14.83% year-on-year, net profit attributable to shareholders was 627 million yuan, down 15.7% year-on-year, and net operating cash flow was 1.039 billion yuan, down 6.93% year-on-year. The company's comprehensive gross profit rate is 26.16%, the return on equity is 7.09%, and the indicators continue to maintain a leading level in the industry. In the first quarter, the company's performance resumed growth, with revenue of 951 million yuan, an increase of 4.6% over the previous year, net profit of 79.93 million yuan, an increase of 447.61% over the previous year, and net operating cash flow of 84.28 million yuan, an increase of 686.27% over the previous year.
On the basis of the annual cash dividend of no less than 400 million yuan in the three-year dividend plan released earlier, the company announced today that the 2024 annual profit distribution plan will implement a cash dividend of 600 million yuan, 6.3 yuan per 10 shares, and the dividend rate will be about 7.5%! With excellent
performance and dividends, Shangfeng issued a new five-year plan for comprehensive quality improvement and transformation. Based on the achievements of the first five years, the company will further adjust the "one main and two wings" to the new pattern of "two-wheel drive" of the main building materials industry chain and the new economic investment chain. The plan also defines the complementary and coordinated development of the two chains, while steadily cultivating and establishing the second growth curve of new materials.
The company's new economic equity investment has achieved fruitful results. Over the past five years, it has made steady investment in high-quality targets in the field of science and technology innovation, focusing on the chain layout of semiconductors, new energy and new materials, and has continuously maintained a better financial return for the company. In 2024, the net profit contribution of the "investment wing" accounted for more than 20%. And a series of investment projects recently began to rotate to prepare to start the process of IPO or reorganization and listing, especially in semiconductor investment, the company's investment in Hefei Jinghe Integration has just completed the reduction of holdings and obtained 166 million yuan of earnings, Onruiwei's application for IPO has been accepted, Shanghai Super Silicon has passed the listing guidance and acceptance, Shenghe Jingwei and Xinyaohui have entered the stage of listing guidance; Changxin Technology and Guangzhou Yuexin have completed share reform and other preparatory work respectively; the series of unicorns invested by the Company in the field of new energy and new materials have also gradually begun to connect with the capital market. Pioneer Electronics, the leader in the localization of target materials, is promoting the reorganization with Guangzhi Technology (300489), and Zhongrun Solar, the world's second largest solar cell shipment in 2024, has been accepted for IPO in Hong Kong. Shangfeng equity investment was originally based on the steady exploration and accumulation of business transformation preparation to the second growth curve, and under the current environmental policy, the tenacious growth of these enterprises actually contributed to the double harvest of the company's financial investment income and transformation resources preparation.
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