8 billion to buy wealth management! Conch Cement Earns 200 Million a Year! Catch up with the full-year profit of most peers

In the past few years, the cement industry has undergone a deep adjustment. Investment in real estate development continued to shrink, the incremental space for infrastructure construction was limited, the problem of overcapacity was superimposed, the price of cement fluctuated at a low level for a long time, and the profits of the whole industry were greatly reduced. Under the pressure of the overall profit of the

industry, the leading enterprises rely on the mature operation base, and the capital level is still stable. With the decline of demand, new capacity projects have been greatly reduced, and the impulse of large capital expenditure has been reduced. In the past, enterprises invested heavily in the expansion of production lines and the acquisition of production capacity, and no longer continued to invest in foreign countries. The surplus funds freed up were able to shift from industrial expansion to investment and financial management.

Conch Cement is a typical representative of the logic of "the stronger the stronger". At a time when the whole industry is crying out for difficulties, it has taken out 8 billion yuan of idle funds for financial management. According to the announcement

on June 3, Conch Cement signed seven financial management contracts with Minsheng Finance in four batches this year, with a total subscription amount of 8 billion yuan, a period of 362 to 364 days, and an expected annual return of 2.55% to 2.65%.

Based on the 2.60% annualized rate of return, 8 billion yuan is invested in one year, and the interest income is about 208 million yuan. This money does not need any business expansion, does not need to run a ton more cement, does not need to burn a ton more coal-belongs to the pure lying profit.

208 million yuan, the figure alone may be insignificant, but in the industry cross-section, the style of painting is completely different.

At present, there are thousands of cement enterprises in China, most of which are regional small and medium-sized enterprises. Under the pressure of the continuous downturn of the industry and the long-term low price, the cement enterprises whose annual net profit can reach 200 million yuan already belong to the regional leading level. More enterprises have worked hard throughout the year, with profits of only tens of millions, or even losses.

In other words, Conch Cement uses this fund for one year's financial income, which is equivalent to a medium-sized cement enterprise struggling to support all the profits for a whole year. This contrast is both cruel and profound.

More noteworthy is that the 8 billion yuan is only the first deployment of Conch's financial management this year.

According to the announcement of Conch Cement in January 2026, the total annual financial plate approved by the board of directors is 50 billion yuan (structural deposits do not exceed 30 billion yuan, bank financial products do not exceed 20 billion yuan).

Of course, financial management is by no means a sure thing. Conch Cement had a radical allocation of financial assets from 2019 to 2021, and then contracted sharply due to market volatility. This time, all of them are invested in R2 and the following low-risk products, indicating that management is still cautious about risk judgment. In the matter of

financial management, small is the daily financial operation, and big is the epitome of the survival pattern of the whole industry. Enterprises that can conduct financial management mean that they have spare money, determination and confidence to go through the cycle; while a large number of small and medium-sized cement enterprises are facing the triple pressures of tight capital chain, rising debt pressure and market share being eroded. By virtue of the scale effect and cost advantages,

the leading enterprises have accumulated strength in the trough period, while the small and medium-sized enterprises have been constantly consumed in the low-price competition. This logic of "the stronger, the weaker" is quietly reshaping the market structure of the cement industry and laying the groundwork for the next round of large-scale integration.