According to incomplete statistics, there are about 33 listed companies developing mixed business in A-share motherboard, Hong Kong stock and Taiwan stock, and 4 companies developing mixed business in the new third board. Among them, there are 11 companies with mixed business as their main business. The annual report of 2024 disclosed 31 listed companies with specific mixed business income, while Qingsong Jianhua, China Nengjian, Yatai Group, Fujian Cement, Anhui Construction Industry and Huasheng International did not disclose the data of mixed business income. With regard to the sales volume, selling price, gross profit margin and payment collection performance of the listed companies in 2024, the detailed analysis is as follows:
I. More than 70% of the enterprises' commercial mixed income declined, and the decline in total revenue significantly widened
. In 2024, 31 listed companies achieved a total commercial mixed income of 87.398 billion yuan. The year-on-year decrease was 12.84%, an increase of about 12.10 percentage points compared with 2023.
From the perspective of total income, in 2024, China's building materials industry achieved a commercial mixed income of 24.553 billion yuan, continuing to maintain the first place in the industry; the second to fifth places in the commercial mixed income were Western Construction, Shanghai Construction Engineering, Huaxin Cement and Huarun Building Materials Technology, and the ranking did not change. The top five listed companies achieved a total commercial mixed income of 69.843 billion yuan, accounting for 79.91% of the total commercial mixed income of 31 listed companies, an increase of about 2.63 percentage points compared with 2023. Finally, the annual commercial mixed income of Innovation Stock, Jinlei Building Material, Tailin Kejian, Huaibei Green Gold and Yinghai Stock is between 0.20-139 billion yuan, ranking in the bottom five.
From the perspective of income growth, in 2024, the mixed income of 22 listed companies decreased year on year. The companies with a decline of more than 40% were Huaibei Green Gold (-69.27%), Yinghai Stock (-59.70%), Yunnan Construction and Investment Concrete (-51.82%), Sansheng Stock (-51.28%) and Tailin Kejian (-42.88%), while the remaining 17 listed companies had a year-on-year decline of 4.95% -39.38%.
At the same time, 9 listed companies achieved year-on-year growth in commercial mixed revenue. Among them, the largest increase was Xinwei International, with a year-on-year increase of 32.84% in commercial mixed income, followed by Zhongguancun and China Resources Building Materials Technology, with a year-on-year increase of 26.98% and 21.65% in commercial mixed income, respectively; The remaining six companies with revenue growth were Conch Cement (18.64%), Zhixin Group (16.95%), Shangfeng Cement (11.23%), Huaxin Cement (9.97%), Huaxi Yitong (9.71%) and Gaoli Group (8.41%).
Table 1: Commercial Mixed Income of 31 Listed Companies in 2022-2024 (Unit: 100 million yuan,%)
Data source: Cement Big Data (https://data.ccement.com/)
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