Recently, Huaxin Building Material Technology handed over a report card for the industry: the estimated net profit in the first half of the year was 1.62 billion yuan to 1.73 billion yuan, an increase of 550 million yuan to 660 million yuan, an increase of 51.4% to 61.7%.
Against the backdrop of a sustained decline in domestic cement demand in the first half of this year and a ten-year low in prices, this figure is particularly eye-catching. The company itself said bluntly in the announcement that the domestic business remained stable in the market competition, and all overseas businesses showed steady growth and efficient operation. In a word, overseas business plays a supporting role.
Overseas business is the biggest card
of Huaxin Building Material's growth against the trend. The overseas layout of Huaxin Building Material has always been the farthest and widest in the industry.
By the end of 2025, the overseas clinker production capacity of Huaxin Building Materials reached 26.598 million tons, ranking first in the scale of offshore enterprises in China, nearly one third higher than that of Taiwan Mud (18.035 million tons), which ranked second. It is 1.6 times that of Conch Cement (16.461 million tons).
AI Shengtu is only for reference
. The total clinker production capacity of cement enterprises in China has exceeded 100 million tons and 92 lines, and Huaxin Building Materials alone accounts for more than a quarter. This is not the layout of this year, but the result of ten years of sharpening a sword-from Tajikistan to Cambodia, from Uzbekistan to Tanzania, the overseas factories of Huaxin Building Materials have already entered the stage of stable operation and efficient output. In the first half of
this year, when the domestic market was struggling to support the downward demand and price involution, all overseas businesses of Huaxin Building Materials showed steady growth and efficient operation. The two key words, "all" and "all", show that Huaxin Building Materials is not an accidental highlight of one or two overseas projects, but a systematic growth of the entire overseas sector.
At present, the domestic cement price has fallen below the ten-year low, the bulk ex-factory price of P.O42.5 in some regions has fallen below 150 yuan/ton, and enterprises have lost one ton by selling one ton; In overseas markets, especially in countries along the Belt and Road, cement prices are generally higher than domestic prices, demand is still growing, and capacity utilization is much higher than domestic level. Between
one increase and one decrease, overseas business has naturally become the biggest contributor to profit growth. The net profit of Huaxin Building Materials increased by 550 million yuan to 660 million yuan compared with the same period last year, a considerable part of which came from the incremental contribution of overseas sectors. What
needs to be clarified is that the bright overseas business does not mean that the domestic business is lagging behind. In the announcement
, Huaxin Building Materials made it clear that the domestic business remained stable in the market competition-in the cold winter when the industry profit dropped from the peak of 186.7 billion yuan in 2019 to about 26 billion yuan in 2025 and the capacity utilization rate was only about 50%, "stability" itself was a kind of ability. In the first quarter
of 2026, Huaxin Building Materials ranked second in the industry with a net profit of 630 million yuan, second only to Conch Cement's 1.468 billion yuan. It is far better than Tianshan Material (loss of 1.495 billion yuan) and Shanshui Cement (loss of 716 million yuan). It can stabilize the basic market at a ten-year low, which shows that Huaxin Building Materials is still competitive in domestic cost control, regional card and market strategy.
But "stability" and "growth" are two different things. The problems in the domestic market are structural-overcapacity is serious, the gap in real estate demand is difficult to fill, and there is no way out for price involution in the short term. In such a market, no matter how strong the enterprise is, it can only be "stable" and it is difficult to "increase". The real incremental space is overseas. The performance structure
of Huaxin Building Materials just proves one point: the domestic market is used to hold the bottom line, and the overseas market is used to pull up the ceiling. When the whole industry is still in the domestic market, Huaxin Building Materials has exchanged its overseas layout ten years ago for today's profit growth against the trend, which is not luck, but the realization of strategic vision. The semi-annual report
of Huaxin Building Materials has taught the whole industry a lesson: when the domestic market enters the stock game or even the shrinkage game, the enterprises that lay out overseas in advance will have the "second growth curve". Going to sea is not a choice question for icing on the cake, but a necessary question for the future-the sooner we go out, the sooner we taste the sweetness of growth.
浙公网安备33010802003254号