Comprehensive review: In the first half of 2025, Conch Cement achieved an operating income of 41.292 billion yuan, a year-on-year decrease of 9.38%; In the first half of this year, Conch Cement scientifically studied and judged the industry situation, actively coordinated the domestic and overseas markets, and further promoted the extension of the industrial chain. While realizing the double promotion of "share + profit", Conch Cement maintained a stable and safe financial structure. During the downturn of the industry, the company's ability to resist risks continued to increase, and the foundation for sustainable development continued to be consolidated. The leading position has been further consolidated.
Figures 1 and 2: Trend
of revenue and profit of Conch Cement in the first half of 2025 Data source: Cement Big Data (https://data.ccement.2025) In the first half of 2025, the total sales volume of cement and clinker of the Company was 127 million tons, representing a slight decrease of 0. The sales volume of self-operated cement clinker was 126 million tons, a slight decrease of 0.35% over the same period last year; The average sales price was RMB243.32/ton, representing a year-on-year increase. 1
. Figures 3 and 4: The sales volume of cement clinker in the first half of 2025 is stable and the price is rising
Data source: Cement Big Data (in the first half of https://data.ccement.2025, The Company achieved an operating income of RMB41.292 billion, representing a year-on-year decrease of 9.38%, and a net profit attributable to parent company of RMB4.368 billion, representing a year-on-year increase of 31.3%. In terms of other profit indicators, the comprehensive gross profit rate in the first half of the year was 25.2%, representing an increase of 6.27 percentage points over the same period last year, and the earnings per share was RMB0.83, representing a year-on-year increase of 31.75%; Compared with the same period last year, the return on equity increased by 0.51 percentage points to 2. Affected by the increase of sales and management costs, the company's three-fee rate reached 9.94%. Added 1.
Table 1: Main operating data
of Conch Cement in the first half of 2025 Source: Cement Big Data (https://data.ccement.2022 Since the industry entered a downward trend in, Conch Cement has actively adjusted its business strategy and reversed the decline in market share. And achieve a rebound year by year. In the first half of this year, the company focused on the annual target tasks, strengthened the construction of terminal markets, promoted the integration of high-value regions, and outperformed the industry as a whole in cement sales, with a market share of about 14%, which continued to increase compared with 2024.
Figure 5: Conch Cement steadily increased
its market share Source: Cement Big Data (https://data.ccement.2025) In the first half of 2017, the Company stepped up its efforts to explore overseas markets and continued to improve its operation quality and efficiency, resulting in a year-on-year increase of 20.4% in overseas cement clinker sales. The operating income reached 2.46 billion yuan, an increase of 7. At the same time, the gross profit rate of overseas business reached 45.23%.
Figure 6: Conch Cement's overseas revenue continued to grow
Source: Cement Big Data (https://data.ccement.2025) In the first half of 2017, Conch Cement further promoted the development of integrated business of cement, aggregate and commercial mixing industry chain. Among them, aggregate production capacity increased by 3.5 million tons, self-produced sales of 63.4 million tons, affected by the decline in aggregate prices, business income decreased slightly by 3.6%, reaching 2.11 billion yuan; The new production capacity of concrete is 5.25 million cubic meters, and the revenue is 1.52 billion yuan. Year-on-year increase 28.
Figures 7 and 8: Conch aggregate in the first half of 2025, Revenue trend
of commercial mixing business Data source: Cement Big Data (https://data.ccement.com/)
Financial situation Safe and stable The ability to resist risks continues to increase
Conch Cement has been operating with low debt all the year round. This is also one of the important advantages of its leading colleagues in the industry. In the first half of 2025, the company's asset-liability ratio is 20. During the downturn of the industry, cash flow is more important than profit, which is related to the survival of the enterprise. In the first half of this year, the net cash flow generated from operating activities of Conch Cement was RMB8.287 billion, representing a year-on-year increase of 20. The financial structure of the Company remained stable and safe, which further enhanced its ability to resist risks and consolidated the foundation for sustainable development.
Figure 9: Trend
of net cash flow and asset-liability ratio of Conch Cement Source: Cement Big Data (https://data.ccement. However, from the perspective of industry environment, demand is still weak, and it is difficult to reach an industry consensus under the background of overcapacity. It is expected that the increase of cement price in the second half of the year will be limited, coupled with the rising cost pressure caused by the rising coal price, the company's performance may face major challenges.
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