(H 股 : 00914, A 股 : 600585) 2024 年度報告 2024 重要提示 重要提示 安徽海螺水泥股份有限公司 1 一 、本公司董事會、監事會及董事、監事、高級管理人員保證本報告內容的真實、準確、完整，不存在虛假 記載、誤導性陳述或重大遺漏，並承擔個別和連帶的法律責任。 二 、公司全體董事出席第九屆董事會第十二次會議。 三 、安永會計師事務所和安永華明會計師事務所（特殊普通合夥）為本公司出具了標準無保留意見的審計報告。 四 、公司負責人楊軍先生、主管會計工作負責人李群峰先生及會計機構負責人凡展先生聲明：保證本報告中 財務報告的真實、準確、完整。 五 、經本公司第九屆董事會第十二次會議審議的2024年度利潤分配預案為：每股派發現金紅利0.71元人民幣 （含稅），不實施公積金轉增股本 。 六 、前瞻性陳述的風險聲明：本報告涉及的公司2025年度資本支出、新增產能規模及淨銷量目標等計劃不構 成對投資者的實質承諾，請廣大投資者注意投資風險。 七 、公司不存在被控股股東及其關聯方非經營性佔用資金的情況。 八 、公司不存在違反規定決策程序對外提供擔保的情況。 九 、公司不存在半數以上董事無法保證本報告 ...

Financial Performance - For the fiscal year ending December 31, 2024, the company's revenue was RMB 9,102,962 thousand, a decrease of 35.51% compared to 2023[2] - The net profit attributable to shareholders for 2024 was RMB 805,195 thousand, down 24.65% from the previous year[2] - Basic earnings per share for 2024 were RMB 1.53, a decline of RMB 0.49 per share compared to 2023[2] - The company reported a total profit of RMB 10,029,189 thousand for 2024, a decrease of 26.22% from 2023[7] - The company's operating revenue for the reporting period was CNY 91.03 billion, a decrease of 35.51% compared to the same period last year[25] - Net profit attributable to shareholders was CNY 7.696 billion, down 26.19% year-on-year[25] - Earnings per share decreased to CNY 1.46, a decline of CNY 0.51 from the previous year[25] - The company reported a net profit attributable to shareholders of 7.70 billion yuan, down 26.19% from the previous year[34] - The company's profit before tax for 2024 was RMB 10,392,547,000, compared to RMB 13,863,557,000 in 2023, reflecting a decrease of approximately 25%[102] Assets and Liabilities - Total assets as of December 31, 2024, amounted to RMB 254,635,244 thousand, reflecting a 3.36% increase from the previous year[10] - The total liabilities for the year were RMB 54,298,442 thousand, showing an increase from RMB 48,393,428 thousand in 2023[5] - Total assets as of December 31, 2024, were RMB 225,743,152 thousand, an increase from RMB 216,582,044 thousand in 2023[65] - Non-current liabilities rose to RMB 25,406,350 thousand in 2024, up from RMB 18,619,112 thousand in 2023[66] - The company's total equity increased to RMB 200,336,802 thousand in 2024, compared to RMB 197,962,932 thousand in 2023[66] Cash Flow - The cash flow from operating activities for 2024 was RMB 18,476,253 thousand, a decrease of 7.96% compared to the previous year[8] - The net cash flow from operating activities for 2024 was 18,476,253 thousand yuan, a decrease of 7.96% compared to 2023[48] - The net increase in cash and cash equivalents was 4,765,131 thousand yuan, a significant improvement compared to a decrease of 4,749,941 thousand yuan in the previous year[48] - The proportion of cash and cash equivalents at the end of the year was 16,337,147 thousand yuan, reflecting a 41.18% increase from the beginning of the year[48] Shareholder Information - The number of registered shareholders as of December 31, 2024, was 221,374, with H-share shareholders totaling 118[10] - Anhui Conch Group holds 1,928,870,014 shares, representing 36.40% of the total shares[11] - Hong Kong Central Clearing (Agent) Co., Ltd. holds 1,297,971,590 H shares, accounting for 24.49% of the total shares[13] - The company repurchased a total of 22,242,535 A shares, which is 0.42% of the total issued shares[13] - The total amount spent on share repurchases was 161,428,057.17 RMB, excluding transaction costs[18] - The company plans to repurchase shares with a total fund of no less than 400 million RMB and no more than 600 million RMB, with a maximum repurchase price of 32.30 RMB per share[17] - The company has not changed its controlling shareholder or actual controller during the reporting period[15] - The largest shareholder, Anhui Conch Group, has no pledged, marked, or frozen shares[13] Operational Highlights - The company increased clinker production capacity by 2.3 million tons overseas and added 8 million tons of cement production capacity through relocation[27] - The company has established six aggregate projects and added fifteen ready-mixed concrete projects during the reporting period[27] - The total clinker production capacity reached 274 million tons, cement production capacity reached 403 million tons, and ready-mixed concrete production capacity was 51.9 million cubic meters by the end of the reporting period[27] - The company actively promoted innovation and increased investment in technological innovation, achieving breakthroughs in several projects[26] - The company participated in projects that won multiple national and industry awards, enhancing its reputation in technological advancement[26] - The company is expanding its market presence with new operations in Africa and South America, and is accelerating construction in Cambodia[27] Cost Management - The cost of cement and clinker self-produced products decreased by 8.65% year-on-year, attributed to cost control measures[36] - The unit cost of raw materials decreased to 36.49 yuan/ton, down 6.87% year-on-year[35] - The company plans to enhance cost control through technological innovation and optimization of procurement channels[36] Research and Development - R&D expenses decreased by 33.89% year-on-year to 1,257,068 thousand yuan, primarily due to reduced investment in various R&D projects[38] - Research and development costs significantly decreased to RMB 1,257,068,000 in 2024 from RMB 1,901,540,000 in 2023, a reduction of 33.9%[89] Dividend Information - The proposed final dividend is 0.71 yuan per share, with a total distribution amounting to 3.74671 billion yuan, representing 48.68% of the net profit attributable to ordinary shareholders for the fiscal year 2024[57] - The expected date for the payment of the final dividend to H shareholders is around June 30, 2025[58] - The company plans to distribute a final dividend of RMB 0.71 per ordinary share for 2024, compared to RMB 1.48 per share in 2023[105] Market Risks and Strategy - The company faces risks including demand fluctuations due to reliance on the construction industry and potential overcapacity leading to increased competition and profit pressure[54][55] - The company emphasizes the importance of adhering to industry self-discipline and peak production requirements to maintain a healthy industry ecosystem[55] - The company is committed to advancing low-carbon and energy-saving transformations, which may increase operational costs but are essential for sustainable development[55] Acquisitions - The company completed the acquisition of Anhui Conch Information Technology Engineering Co., Ltd. during the reporting period[5] - The company acquired 51% of West Papua Conch on December 27, 2024, as part of its strategy to expand market share in Southeast Asia[113] - The total cash consideration for the acquisition of West Papua Conch was RMB 225,826,000, with recognized goodwill amounting to RMB 304,515,000[115] - The group acquired 100% equity of Hai Luo Information Engineering Company for RMB 126,400 thousand on January 2, 2024, under common control[116] Taxation - The company has subsidiaries in China that benefit from a preferential corporate income tax rate of 15% due to their high-tech enterprise certification, valid from 2024 to 2026[93][94][95][96]. - The corporate income tax rate for subsidiaries located outside mainland China varies, with rates of 16.5% in Hong Kong and 20% in Laos and Russia[98][99]. - The company’s subsidiaries in Uzbekistan benefit from a corporate income tax rate of 15%[99]. - The company’s subsidiaries that qualify as small and micro enterprises can enjoy a 75% exemption on taxable income, applicable to a 20% tax rate, from 2022 to 2024[97]. - The company’s subsidiaries that are recognized as high-tech enterprises can benefit from a 15% tax rate, with several subsidiaries receiving certification in 2023[95][96].

Financial Performance - Revenue for the reporting period was CNY 22,584,738,660, a decrease of 32.89% compared to the same period last year[3] - Net profit attributable to shareholders was CNY 1,872,817,793, down 15.13% year-on-year[3] - Net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 1,694,170,382, a decrease of 15.38% compared to the previous year[3] - Basic earnings per share for the reporting period were CNY 0.35, down 14.77% year-on-year[3] - Diluted earnings per share for the reporting period were also CNY 0.35, reflecting a 14.77% decrease compared to the same period last year[3] - The weighted average return on equity was 1.01%, a decrease of 0.19 percentage points year-on-year[3] - Total operating revenue for the first three quarters of 2024 was RMB 68,150,360,320, a decrease from RMB 99,156,676,146 in the same period of 2023, representing a decline of approximately 31.3%[18] - Total operating costs for the first three quarters of 2024 were RMB 62,279,305,371, down from RMB 89,103,325,967 in 2023, indicating a reduction of about 30.1%[18] - Research and development expenses for the first three quarters of 2024 amounted to RMB 865,016,686, compared to RMB 1,311,043,595 in 2023, reflecting a decrease of approximately 34.1%[18] - Investment income for the first three quarters of 2024 was RMB 274,239,116, down from RMB 584,643,028 in 2023, indicating a decline of about 53.2%[18] - The net profit for the current period is CNY 5,245,020,339, a decrease of 42.5% compared to CNY 9,072,670,219 in the same period last year[19] - The total comprehensive income for the current period is CNY 5,293,830,027, down from CNY 8,324,820,064 year-over-year[20] - Operating profit for the current period is CNY 6,391,071,515, a decline of 41.5% from CNY 10,974,071,158 in the previous year[19] - The company reported a decrease in sales revenue from CNY 80,814,773,640 in the current period compared to CNY 113,568,072,927 in the same period last year[21] - The company’s total profit for the current period is CNY 6,802,401,181, down from CNY 11,435,421,165 year-over-year, reflecting a decline of 40.5%[19] Assets and Liabilities - Total assets at the end of the reporting period were CNY 252,090,916,161, an increase of 2.33% from the previous year-end[4] - Total assets increased to RMB 252,090,916,161 in 2024 from RMB 246,356,360,411 in 2023, marking an increase of approximately 2.99%[16] - Total liabilities rose to RMB 54,103,961,187 in 2024, compared to RMB 48,335,063,593 in 2023, representing an increase of about 11.5%[15] - Current liabilities totaled RMB 28,553,447,583 in 2024, a decrease from RMB 29,774,313,174 in 2023, reflecting a decline of approximately 4.1%[15] - Non-current liabilities increased significantly to RMB 25,550,513,604 in 2024 from RMB 18,560,750,419 in 2023, indicating a rise of about 37.6%[15] - The total equity attributable to shareholders was RMB 185,498,574,472 in 2024, slightly up from RMB 185,389,128,400 in 2023, showing a marginal increase of approximately 0.06%[16] Cash Flow - The company reported a net cash flow from operating activities of CNY 10,347,782,944, an increase of 7.15% compared to the previous year[3] - Cash inflow from operating activities is CNY 81,794,422,886, compared to CNY 114,740,576,193 in the same period last year, representing a decrease of 28.7%[21] - Net cash flow from operating activities was 10,347,782,944, an increase from 9,656,985,995 in the previous period, reflecting a growth of approximately 7.1%[22] - Cash inflow from investment activities totaled 20,160,109,120, down from 31,818,556,499, indicating a decrease of about 36.5%[22] - Net cash flow from financing activities was 2,810,214,014, a significant improvement compared to a negative cash flow of -2,431,485,454 in the previous period[22] - The total cash and cash equivalents at the end of the period reached 17,942,538,963, up from 12,864,254,741, representing an increase of approximately 39.5%[22] - Cash paid for operating activities amounted to 71,446,639,942, a decrease from 105,083,590,198, reflecting a reduction of about 32.0%[22] - Cash outflow from investment activities was 26,927,195,741, down from 42,568,064,190, indicating a decrease of approximately 36.8%[22] - Cash received from financing activities was 19,089,638,741, an increase from 14,525,288,101, showing a growth of about 31.5%[22] - The company reported a net increase in cash and cash equivalents of 6,370,522,941, contrasting with a decrease of -3,457,701,929 in the previous period[22] - Cash paid for taxes increased to 7,224,742,789 from 6,834,075,090, reflecting an increase of approximately 5.7%[22] - Cash received from other financing activities was 11,513,784,300, significantly higher than 195,000,000 in the previous period, indicating a substantial increase[22] Shareholder Information - As of the end of the reporting period, the total number of common shareholders is 253,137, with the top ten shareholders holding 36.40% and 24.49% of shares respectively[9] - Anhui Conch Group Co., Ltd. holds 1,928,870,014 shares, accounting for 36.40% of total shares, while Hong Kong Central Clearing Limited holds 1,297,949,590 shares, accounting for 24.49%[10] - The company’s repurchased shares account for 0.42% of the total issued share capital, totaling 22,242,535 shares[10] - The top ten shareholders do not have any related relationships or act in concert according to the board of directors[10] - The company has not reported any changes in the participation of major shareholders in margin financing and securities lending activities during the reporting period[12] - The company has not indicated any significant changes in operational conditions that require investor attention during the reporting period[12] Non-Recurring Items - Non-recurring gains and losses totaled CNY 178,647,411 for the reporting period[6] - The company recorded a net loss from asset disposal of CNY 9,474,610, contrasting with a gain of CNY 39,599,807 in the previous year[19] - Other comprehensive income after tax for the current period is CNY 48,809,688, compared to a loss of CNY 747,850,155 in the same period last year[19] - The company acquired Anhui Conch Information Technology Engineering Co., Ltd. in January 2024, necessitating restatement of prior financial statements[5]

Financial Performance - Anhui Conch Cement reported a revenue of RMB 50 billion for the first half of 2024, representing a year-on-year increase of 12%[1]. - The company's net profit for the same period reached RMB 10 billion, up 15% compared to the previous year[1]. - Operating revenue for the first half of 2024 was CNY 45,565,622, down 30.44% from CNY 65,503,714 in the same period of 2023[9]. - Net profit attributable to shareholders for the first half of 2024 was CNY 3,325,646, a decline of 48.56% compared to CNY 6,465,392 in the first half of 2023[9]. - Basic earnings per share for the first half of 2024 were CNY 0.63, down 48.35% from CNY 1.22 in the same period of 2023[9]. - The company's main product, 42.5-grade cement, generated revenue of CNY 23.686 billion, a decrease of 22.76% year-on-year[19]. - Main business revenue was 34.05 billion yuan, down 22.12% year-on-year, while operating profit fell by 51.51% to 4.03 billion yuan[25]. - The company reported a total comprehensive income of RMB 3,622,336 thousand, which includes other comprehensive income adjustments[155]. Market Expansion and Strategy - The company expects a revenue growth of 10-15% for the full year 2024, driven by increased demand in the construction sector[1]. - Anhui Conch Cement plans to expand its market presence in Southeast Asia, targeting a 5% market share by 2025[1]. - The company is exploring potential acquisitions of smaller cement producers to enhance its production capacity and market reach[1]. - The company aims to expand its overseas business and explore diversified development models to enhance operational quality in international projects[41]. - The company is advancing its international development strategy, with projects in Uzbekistan and Cambodia progressing steadily[17]. - The outlook for the second half of 2024 indicates a potential increase in cement demand driven by government infrastructure projects and policies aimed at stabilizing the real estate market[40]. Research and Development - The company has committed to increasing its R&D budget by 20% to accelerate innovation in sustainable materials[1]. - R&D expenses decreased by 29.24% year-on-year, primarily due to reduced investment in smart production industrialization projects[28]. - Research and development expenses for the first half of 2024 were RMB 519,216 thousand, down from RMB 733,748 thousand in the same period of 2023[142]. - The company actively promoted innovation and was awarded the second prize of the National Science and Technology Progress Award for a project related to high-speed rail materials[17]. Environmental Responsibility - Anhui Conch Cement aims to achieve a 30% reduction in carbon emissions by 2030 as part of its long-term sustainability strategy[1]. - The company is focusing on green low-carbon development and has made significant investments in safety and environmental protection[15]. - The company is committed to social responsibility and environmental sustainability in its operations[67]. - The company is focused on reducing emissions and improving environmental performance across its various cement plants[67]. - The company is committed to reducing its overall carbon footprint by implementing advanced emission control technologies[75]. Financial Position and Liabilities - Total assets as of June 30, 2024, were CNY 243,734,511, a decrease of 1.06% compared to the end of 2023[8]. - Total liabilities as of June 30, 2024, were CNY 47,580,120, a decrease of 1.68% compared to CNY 48,393,428 at the end of 2023[11]. - The debt-to-asset ratio was 19.50%, a decrease of 0.12 percentage points compared to the end of the previous year[30]. - The company's equity attributable to shareholders decreased to RMB 183,503,672 thousand from RMB 185,337,581 thousand, reflecting a decline of about 1.0%[149]. Cash Flow and Investments - Net cash flow from operating activities for the first half of 2024 was CNY 6,870,679, an increase of 35.75% compared to CNY 5,061,236 in the first half of 2023[9]. - Cash and cash equivalents amounted to CNY 67.84 billion, a slight decrease of 0.80% from CNY 68.38 billion at the end of the previous year[30]. - The company reported a total cash and cash equivalents balance of RMB 13,858,506 thousand as of June 30, 2024, compared to RMB 14,358,672 thousand at the same time in 2023[157]. - The company has invested RMB 500 thousand in subsidiaries without losing control, indicating strategic growth initiatives[155]. Shareholder Information - The total number of shares remained unchanged at 5,299,302,579, with 3,999,702,579 A shares (75.48%) and 1,299,600,000 H shares (24.52%)[117]. - The largest shareholder, 海螺集團, held 1,928,870,014 shares, representing 36.40% of the total shares[120]. - The company distributed a cash dividend of 0.96 CNY per share, totaling 5,065,977,642.24 CNY (including tax) to shareholders as of May 30, 2024[57]. - The board of directors recommended not to distribute any interim dividends for 2024 and will not implement capital reserve conversion into share capital[58]. Compliance and Governance - The company has adhered to all corporate governance codes as stipulated by the stock exchange during the reporting period[134]. - The company confirmed compliance with the standards of the Code of Conduct regarding securities transactions by all directors during the reporting period[134]. - The company has maintained compliance with all legal obligations and has no significant overdue debts[114].

Financial Performance - The company's revenue for the six months ended June 30, 2024, was approximately RMB 4,556.56 million, a decrease of about 30.44% compared to the same period last year[2]. - The net profit attributable to shareholders for the same period was approximately RMB 348.63 million, down approximately 48.37% year-on-year[2]. - The basic earnings per share for the reporting period was RMB 0.66, a decrease from RMB 1.27 in the same period last year[2]. - The company reported a decrease in net profit attributable to shareholders after excluding non-recurring gains and losses, amounting to RMB 3,184.88 million, down 48.25% year-on-year[10]. - Net profit attributable to shareholders was CNY 3.326 billion, down 48.56% year-on-year, with earnings per share of CNY 0.63, a decline of CNY 0.59 per share[20]. - The company reported a net profit for the period of RMB 3,547,266 thousand, representing a 50.2% decrease compared to RMB 7,122,732 thousand in 2023[50]. Assets and Liabilities - The total assets as of June 30, 2024, were RMB 243,734.51 million, a decrease of 1.06% compared to the end of the previous year[8]. - The total liabilities of the group amounted to 47.53 billion, a decrease of 1.66% compared to the previous year[36]. - The group’s equity attributable to shareholders decreased by 0.99% to 183.55 billion[37]. - The company's total assets were 243.73 billion, down 1.06% from the previous year-end[36]. - The net current assets decreased to RMB 68,824,198 thousand from RMB 71,709,224 thousand, a decline of 4.0%[52]. - The company reported a total equity of RMB 196,154,391 thousand as of June 30, 2024, down from RMB 197,962,932 thousand, a decrease of 0.9%[53]. Cash Flow - The net cash flow from operating activities for the first half of 2024 was RMB 6,870.68 million, an increase of 35.75% year-on-year[10]. - Cash and cash equivalents increased to RMB 13,858,506 thousand from RMB 11,572,016 thousand, a rise of 19.7%[51]. - The current tax expense for the six months ended June 30, 2024, was RMB 1,122,936,000, compared to RMB 1,722,477,000 in 2023, indicating a decrease of 34.87%[70]. - The company reported a decrease in cash and cash equivalents of RMB (2,058,787) thousand for the period[93]. Shareholder Information - The total number of registered shareholders as of the reporting period was 264,950, with H-share registered shareholders numbering 122[12]. - The largest shareholder, Anhui Conch Group Co., Ltd., held 1,928,870,014 shares, representing 36.40% of the total shares[12]. - The company repurchased a total of 22,242,535 A shares, accounting for 0.42% of the total issued share capital as of the end of the reporting period[15]. - The total amount spent on share repurchases during the reporting period was approximately 161.43 million yuan, excluding transaction fees[15]. - The company’s major shareholders do not have any related relationships or act in concert with each other[13]. Business Operations - The company added new clinker capacity of 2.3 million tons and cement capacity of 4.7 million tons during the reporting period[21]. - The company’s main business in the building materials sector generated revenue of CNY 33.579 billion, a decrease of 20.82% year-on-year, with a gross margin of 23.01%[23]. - The sales of 42.5-grade cement accounted for CNY 23.687 billion, down 22.76% year-on-year, with a gross margin of 22.62%[23]. - The company’s direct sales model generated revenue of CNY 19.756 billion, a decrease of 20.28% year-on-year, with a gross margin of 25.74%[24]. - The company is actively promoting innovation and green development, focusing on energy-saving and consumption-reduction technology transformation[20]. Market and Expansion - The construction of the new cement projects in Uzbekistan and Cambodia is progressing smoothly, contributing to the company's international expansion[20]. - The overseas sales market showed improvement, with export sales increasing by 100.69% year-on-year[28]. - The company plans to focus on effective investment and strengthen its competitive advantages in the cement and upstream and downstream industries[45]. - The company aims to explore overseas business expansion and diversify its development model while improving the operational quality of overseas projects[45]. Research and Development - The company received the second prize of the National Science and Technology Progress Award for its project on high-speed rail anti-corrosion materials[20]. - Research and development expenses decreased by 29.24% year-on-year, mainly due to reduced spending on smart production projects[33]. - The company’s research and development expenses for the six months ending June 30, 2023, were RMB 707,058,000[82]. Taxation - The effective corporate income tax rate for most subsidiaries in mainland China is 25%, with certain subsidiaries qualifying for a reduced rate of 15% due to their status as high-tech enterprises[71][74]. - The company has received high-tech enterprise certification for several subsidiaries, allowing them to benefit from the 15% preferential income tax rate until 2024[74]. - The company has not recognized any taxable income under Hong Kong profits tax, thus no provision for Hong Kong profits tax is required[70]. Miscellaneous - The company has not repurchased, sold, or redeemed any listed securities other than those disclosed during the reporting period[16]. - The company has no significant events affecting its operations since the publication of its annual report as of December 31, 2023[47]. - The company has diversified its customer base, with no single customer accounting for more than 10% of total sales revenue[57].

Financial Performance - Revenue for the reporting period was CNY 21,327,718,918, a decrease of 32.08% compared to the previous year[4] - Net profit attributable to shareholders was CNY 1,502,318,719, down 41.14% year-on-year[4] - Net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 1,368,419,403, a decrease of 36.56% compared to the same period last year[4] - Basic and diluted earnings per share were both CNY 0.28, down 40.91% from the previous year[4] - Weighted average return on equity decreased by 0.57 percentage points to 0.81%[4] - The decline in revenue and profit was primarily due to a decrease in sales volume and prices of cement products[9] - Total operating revenue for Q1 2024 was RMB 21,327,718,918, a decrease of 32.2% compared to RMB 31,403,390,457 in Q1 2023[17] - The company's operating profit for Q1 2024 was CNY 1.71 billion, a decrease of 42.9% compared to CNY 3.00 billion in Q1 2023[18] - Net profit attributable to shareholders for Q1 2024 was CNY 1.50 billion, down 41.1% from CNY 2.55 billion in Q1 2023[18] - Total comprehensive income for Q1 2024 was CNY 1.39 billion, a decline of 44.0% from CNY 2.47 billion in Q1 2023[18] - The company reported a decrease in sales revenue from CNY 37.84 billion in Q1 2023 to CNY 25.07 billion in Q1 2024, reflecting a decline of 33.8%[20] Cash Flow and Assets - Net cash flow from operating activities was CNY 159,585,210, a significant decline of 94.87% year-on-year[4] - Cash flow from operating activities for Q1 2024 was CNY 159.59 million, significantly lower than CNY 3.11 billion in Q1 2023[20] - Cash and cash equivalents as of March 31, 2024, were RMB 66,336,636,055, down from RMB 68,382,205,847 as of December 31, 2023[14] - The company's cash and cash equivalents at the end of Q1 2024 were CNY 11.47 billion, a decrease from CNY 18.43 billion at the end of Q1 2023[21] - Total assets at the end of the reporting period were CNY 245,174,906,636, a slight decrease of 0.48% compared to the end of the previous year[4] - Total assets decreased to RMB 245,174,906,636 from RMB 246,356,360,411, indicating a slight contraction in the company's asset base[16] Shareholder Information - The total number of common shareholders at the end of the reporting period is 291,919[10] - Anhui Conch Group Co., Ltd. holds 1,928,870,014 shares, accounting for 36.40% of the total shares[10] - Hong Kong Central Clearing Limited holds 1,297,858,090 shares, representing 24.49% of the total shares[10] - The company has a repurchase account holding 22,242,535 shares, which is 0.42% of the total issued capital[11] - The total number of shares held by the top ten unrestricted shareholders is 3,346,000,000 shares[10] - The proportion of shares held by the top ten unrestricted shareholders is 63.00% of the total shares[10] - The top ten shareholders do not have any related party relationships or concerted actions[10] Operational Insights - The company does not have any significant changes in the operational situation during the reporting period[13] - There are no applicable reminders for investors regarding the company's operational situation during the reporting period[13] - The acquisition of Anhui Conch Information Technology Engineering Co., Ltd. and its subsidiary was completed in January 2024, requiring restatement of prior financial statements[7] Costs and Expenses - Total operating costs for Q1 2024 were RMB 19,736,771,656, down 31.2% from RMB 28,708,158,815 in Q1 2023[17] - Research and development expenses in Q1 2024 amounted to RMB 185,757,727, a decrease of 30% from RMB 265,299,174 in Q1 2023[17] - Cash inflow from investment activities in Q1 2024 was CNY 5.71 billion, down 49.1% from CNY 11.22 billion in Q1 2023[21] - Cash outflow from investment activities for Q1 2024 was CNY 6.56 billion, a decrease of 46.5% compared to CNY 12.27 billion in Q1 2023[21] - Net cash flow from financing activities for Q1 2024 was CNY 580.43 million, an increase from CNY 68.48 million in Q1 2023[21] Debt and Liabilities - Long-term borrowings increased to RMB 16,694,144,033 from RMB 15,611,937,445, suggesting a strategy to leverage debt for growth[16]

Dividend Distribution - The company plans to distribute a cash dividend of RMB 0.96 per share (including tax) for the 2023 fiscal year[2]. - The board of directors has approved the profit distribution plan during the ninth meeting of the ninth session[2]. - For the fiscal year 2023, the company proposed a final dividend of 0.96 yuan per share, with a total payout of approximately 506.6 million yuan, representing 48.57% of the net profit attributable to ordinary shareholders[73]. - The company distributed a cash dividend of 1.48 yuan per share for the fiscal year 2022, totaling approximately 7.84 billion yuan[72]. Financial Performance - The company's net operating revenue for 2023 reached CNY 140,999,428, an increase from CNY 132,021,554 in 2022[13]. - The net profit attributable to shareholders was CNY 10,689,181, down from CNY 15,860,553 in the previous year, indicating a decline of approximately 32.5%[13]. - The total profit for 2023 decreased by 32.05% to CNY 13,600,466 from CNY 20,014,665 in 2022[14]. - Net profit attributable to shareholders was CNY 10,430,138 in 2023, down 33.40% from CNY 15,660,750 in 2022[14]. - The basic earnings per share for 2023 was CNY 1.97, a decrease of 33.39% compared to CNY 2.96 in 2022[14]. - The net cash flow from operating activities increased significantly to CNY 20,105,564, up 108.36% from CNY 9,649,268 in 2022[14]. Assets and Liabilities - Total assets increased to CNY 246,189,200, compared to CNY 243,976,422 in 2022, reflecting a slight growth[13]. - Total liabilities stood at CNY 48,278,835, a marginal increase from CNY 48,067,537 in 2022[13]. - The net assets attributable to shareholders increased to CNY 185,321,083, up 0.92% from CNY 183,638,725 in 2022[15]. - The total assets of the company as of December 31, 2023, were 246.19 billion yuan, an increase of 0.91% compared to the end of the previous year[41]. - The total liabilities amounted to 48.22 billion yuan, reflecting a year-on-year increase of 0.50%[41]. Capital Expenditure and Investment - The company has outlined its capital expenditure and new production capacity plans for 2024, although these do not constitute a commitment to investors[2]. - The company plans to enhance regional management efficiency by consolidating several subsidiaries into regional management units[9]. - The company plans to actively seek quality acquisition targets to enhance market competitiveness and control[49]. - In 2024, the company plans capital expenditures of 15.2 billion yuan, primarily funded by its own resources, focusing on project construction, energy-saving technology upgrades, and acquisition projects[50]. - The company has approved and contracted capital commitments of RMB 11.80 billion as of December 31, 2023[48]. Risk Management - The company has disclosed potential risks for 2024, including policy risks, environmental regulatory risks, and energy price fluctuation risks[2]. - The company emphasizes the importance of reading the risk disclosures in Chapter 3 of the report[2]. - The company is closely monitoring macroeconomic conditions and market trends to mitigate risks associated with the dependence on the construction industry and potential declines in fixed asset and real estate investments[51]. Environmental Responsibility - The company is focusing on sustainable practices and green building materials in response to market demand[11]. - The company has implemented measures to monitor and reduce emissions, aligning with GB4915-2013 standards[141]. - The company is committed to improving its environmental performance and reducing its carbon footprint through various initiatives[141]. - The company has implemented online monitoring equipment in all subsidiaries to comply with environmental regulations[153]. - The company has established emergency response plans for environmental incidents, ensuring rapid and efficient action[153]. Governance and Compliance - The company has received a standard unqualified audit report from KPMG, ensuring the accuracy and completeness of the financial statements[2]. - The company does not face any situations where more than half of the directors cannot guarantee the truthfulness, accuracy, and completeness of the report[2]. - The company has maintained a clear governance structure since its listings in 1997 and 2002, ensuring independent and efficient decision-making[83]. - The company has established a robust internal management and control system to promote healthy and stable development[83]. - The company has a comprehensive governance structure with a focus on corporate governance and compliance[96]. Shareholder Information - The total number of shares remained unchanged at 5,299,302,579, with 75.48% being RMB ordinary shares (A shares) and 24.52% being overseas listed foreign shares (H shares)[195]. - As of December 31, 2023, the total number of registered shareholders was 307,069, with 116 being H share registered shareholders[197]. - The largest shareholder, Wanluo Group, holds 36.40% of the shares, totaling 1,928,870,014 shares[198]. Employee Management - As of December 31, 2023, the group employed 50,769 staff, with 32,140 in production, 2,118 in sales, and 11,005 in technical roles[107]. - The company has a male employee ratio of approximately 84% and female employee ratio of about 16%[107]. - The company emphasizes a performance-based salary system linked to key indicators such as production, sales, and environmental protection[109]. Related Party Transactions - The company has not experienced any non-operating fund occupation by controlling shareholders or related parties during the reporting period[159]. - The actual transaction amount under the "Cement Additives (Grinding Aids) Procurement Contract" during the reporting period was 823 million CNY[168]. - The transactions with Conch Design Institute constitute related party transactions as it is a wholly-owned subsidiary of Conch Group[178]. Social Responsibility - The company actively fulfilled its social responsibilities, as detailed in the 2023 Environmental, Social, and Governance report[156]. - The company donated approximately RMB 150,000 worth of cement to improve rural infrastructure, enhancing living conditions in supported villages[157]. - The company contributed RMB 500,000 to the "Anhui Future Healthy Children Development Foundation" for assisting critically ill children and promoting health knowledge[157].

Financial Performance - For the fiscal year ending December 31, 2023, the company's revenue was approximately RMB 14,099,943 million, representing an increase of 6.80% compared to 2022[2]. - The net profit attributable to shareholders for 2023 was approximately RMB 1,068,918 million, a decrease of 32.61% from the previous year[2]. - Basic earnings per share for 2023 were RMB 2.02, down from RMB 2.99 in 2022[2]. - The company reported a decrease in net profit margin, with the net profit attributable to shareholders decreasing by 33.40% compared to the previous year[6]. - The company's operating revenue for the reporting period was CNY 140.999 billion, an increase of 6.80% year-on-year[19]. - Net profit attributable to shareholders was CNY 10.430 billion, a decrease of 33.40% year-on-year, with earnings per share of CNY 1.97, down CNY 0.99 per share[19]. - The total profit before tax for the consolidated entity was RMB 13,869,972 thousand for 2023, down from RMB 20,232,112 thousand in 2022[71]. - The company's profit before tax for 2023 was RMB 13,869,972,000, a decrease of 31.9% compared to RMB 20,232,112,000 in 2022[86]. Assets and Liabilities - Total assets as of December 31, 2023, were RMB 246,189,200 million, reflecting a 0.91% increase from the previous year[8]. - The company's total liabilities stood at RMB 48,278,835 million, showing a slight increase from RMB 48,067,537 million in 2022[5]. - The company's equity attributable to shareholders was CNY 185.32 billion, reflecting a 0.92% increase from the previous year[34]. - The current ratio improved to 3.41:1, up from 2.98:1 at the end of the previous year, primarily due to a reduction in short-term borrowings[34]. - The total liabilities for the reporting segments were RMB 48,220,472 thousand, indicating a well-managed capital structure[68]. Cash Flow - The operating cash flow for 2023 was RMB 20,105,564 million, an increase of 108.36% compared to RMB 9,649,268 million in 2022[7]. - The net cash flow from operating activities was CNY 20.11 billion, a significant increase of 108.36% year-on-year[38]. - The net cash flow from investment activities showed a net outflow of CNY 19.31 billion, an increase of 265.62% compared to the previous year[39]. Shareholder Information - As of December 31, 2023, the total number of registered shareholders was 307,069, with 116 being H-share shareholders[9]. - The top shareholder, Anhui Conch Group Co., Ltd., held 36.40% of the shares, totaling 1,928,870,014 shares[10]. - The company repurchased a total of 22,242,535 A-shares, accounting for 0.28% of the total share capital as of the announcement date[13]. - The proposed final dividend is 0.96 yuan per share, with a total distribution amounting to 506,598 thousand yuan[46]. Operational Highlights - The company increased clinker production capacity by 3.5 million tons, cement production capacity by 7.05 million tons, and aggregate production capacity by 40.7 million tons during the reporting period[20]. - The total sales volume of cement and clinker was 293 million tons, a decrease of 5.60% year-on-year, with a main business revenue of CNY 86.407 billion, down 16.67% year-on-year[23]. - The company actively promoted project development, successfully launching several cement projects in Guizhou, Guangdong, and Uzbekistan[19]. - The company expanded its operational concrete projects by adding 14 new projects through new construction, mergers, and leasing[19]. Cost Management and Efficiency - The company is focusing on cost control and green development initiatives to enhance operational efficiency and sustainability[19]. - The comprehensive gross profit margin for aggregates and manufactured sand was 48.32%, a year-on-year decrease of 11.98 percentage points[25]. - The comprehensive cost of cement clinker self-products decreased by 11.04% year-on-year, primarily due to lower coal procurement prices and coal consumption[31]. Market and Sales - The sales revenue in the eastern and southern regions decreased by 13.26% and 11.48% year-on-year, respectively, due to a decline in product sales prices[26]. - Export sales volume increased by 117.83% year-on-year, with sales revenue rising by 92.53%[26]. - The company achieved sales revenue from external customers of RMB 139,117,872 thousand, showcasing strong market demand[67]. Research and Development - Research and development expenses decreased by 7.55% year-on-year, accounting for 2.15% of the main business revenue[32]. - Research and development costs for 2023 amounted to RMB 1,859,553 thousand, down from RMB 2,011,317 thousand in 2022, indicating a reduction of about 7.5%[77]. Taxation and Incentives - The company has a preferential corporate income tax rate of 15% for 2023, applicable to 18 subsidiaries due to their qualification as high-tech enterprises or their location in western China[82]. - The company benefits from a 15% tax rate for its subsidiaries operating in the Hainan Free Trade Port until December 31, 2024[82]. - 84 subsidiaries of the company enjoy tax incentives allowing for three years of full exemption from corporate income tax, followed by three years at 50% of the standard rate[83]. Acquisitions and Investments - The company acquired 100% of Shaodong Panshi Concrete Co., Ltd. and Wuhan Hanshi Environmental Engineering Co., Ltd. in 2023, with total cash consideration of RMB 107,905,000[92][94]. - The recognized goodwill from the acquisitions was RMB 1,108,000, reflecting expected synergies and market potential[94]. - If the acquisitions had occurred on January 1, 2023, the estimated consolidated revenue would have been RMB 141,045,243,000, with a net profit of RMB 11,028,066,000 for the year[95].

Financial Performance - The company's operating revenue for the third quarter of 2023 was RMB 33,607,073,674, representing a year-on-year increase of 15.68%[4] - Net profit attributable to shareholders for the same period was RMB 2,203,694,280, a decrease of 14.55% compared to the previous year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 1,998,555,972, down 25.75% year-on-year[4] - Basic and diluted earnings per share for the third quarter were both RMB 0.42, reflecting a decrease of 14.55% compared to the same period last year[4] - The weighted average return on equity was 1.20%, a decrease of 0.23 percentage points year-on-year[4] - Total operating revenue for the first three quarters of 2023 reached RMB 99.04 billion, a 16.1% increase from RMB 85.33 billion in the same period of 2022[15] - Net profit attributable to shareholders of the parent company was RMB 8.67 billion, down 30.0% from RMB 12.42 billion in the previous year[17] - Basic earnings per share for the first three quarters were RMB 1.64, down from RMB 2.34 in the same period of 2022[17] - The company’s tax expenses for the first three quarters were RMB 2.36 billion, a decrease of 34.0% from RMB 3.58 billion year-over-year[16] Assets and Liabilities - Total assets at the end of the reporting period were RMB 247,072,442,409, an increase of 1.27% from the end of the previous year[4] - As of September 30, 2023, the company's current assets totaled RMB 104,090,575,000, a slight decrease from RMB 106,018,259,536 as of December 31, 2022, representing a decline of approximately 1.8%[12] - Total assets reached RMB 247,072,442,409, up from RMB 243,976,422,237, representing a growth of approximately 1.5%[13] - The company reported a total liability of RMB 50.45 billion, an increase of 5.8% compared to RMB 47.98 billion in the previous year[14] - Current liabilities decreased to RMB 31,064,069,325 from RMB 35,571,242,686, a reduction of about 12.7%[13] - The company reported a significant increase in long-term borrowings, which rose to RMB 16,632,174,380 from RMB 9,688,650,727, an increase of about 71.5%[13] Cash Flow - Cash inflow from operating activities totaled ¥114.64 billion, an increase from ¥105.28 billion year-over-year, reflecting a growth of approximately 1.1%[19] - Cash outflow for purchasing goods and services was ¥89.65 billion, up from ¥76.11 billion, indicating a rise of about 17.8%[19] - Net cash flow from investing activities was -¥10.81 billion, compared to -¥3.06 billion in the previous period, showing a significant decline[20] - Cash inflow from financing activities amounted to ¥14.54 billion, slightly down from ¥15.39 billion, a decrease of about 5.5%[20] - The company reported a net cash flow from financing activities of -¥2.29 billion, compared to -¥2.97 billion previously, indicating an improvement[20] - The ending cash and cash equivalents balance was ¥12.82 billion, down from ¥21.08 billion, reflecting a decrease of approximately 39.5%[20] - Cash received from tax refunds was ¥33.40 million, significantly higher than ¥17.36 million in the previous year, marking an increase of about 92.5%[19] - Cash paid for employee compensation was ¥6.80 billion, slightly up from ¥6.63 billion, representing an increase of about 2.5%[19] - Cash paid for taxes was ¥6.83 billion, down from ¥11.45 billion, indicating a decrease of approximately 40.4%[19] - Cash outflow for investment activities totaled ¥42.63 billion, compared to ¥36.41 billion, reflecting an increase of about 17.0%[20] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 299,229, with the largest shareholder holding 36.40% of the shares[9] - The company has no significant related party transactions among the top shareholders, ensuring transparency in ownership structure[10] Government Subsidies and Costs - Government subsidies recognized in the current period amounted to RMB 272,139,073, down from RMB 541,359,539 in the previous year[6] - Total operating costs increased to RMB 88.99 billion, up 26.2% from RMB 70.52 billion year-over-year[15] - Deferred income increased to RMB 824.62 million, up 24.2% from RMB 663.99 million year-over-year[14] - Research and development expenses for the first three quarters were RMB 1.27 billion, a decrease of 10.9% from RMB 1.43 billion in the same period last year[16] Inventory and Investments - The company's inventory decreased to RMB 9,366,327,206 from RMB 11,678,994,640, reflecting a reduction of approximately 19.8%[12] - Long-term equity investments rose to RMB 7,144,568,942 from RMB 6,792,654,915, indicating an increase of about 5.2%[12] - The total non-current assets increased to RMB 142,981,867,409 from RMB 137,958,162,701, indicating a growth of approximately 3.7%[13] - The company has expanded its trading business in bulk materials, which contributed to the increase in operating revenue[8] - The company reported a significant decline in cement product sales prices, which contributed to the overall profit decrease[8]

Financial Performance - Anhui Conch Cement reported a revenue of RMB 50 billion for the first half of 2023, representing a year-on-year increase of 15%[1]. - The company's net profit for the same period reached RMB 12 billion, up 20% compared to the previous year[1]. - Operating revenue for the first half of 2023 was CNY 65,436,307 thousand, representing a 16.28% increase compared to CNY 56,275,749 thousand in the same period of 2022[9]. - Net profit attributable to shareholders for the first half of 2023 was CNY 6,468,471 thousand, a decline of 34.26% from CNY 9,839,772 thousand in the first half of 2022[9]. - Basic earnings per share for the first half of 2023 were CNY 1.22, down 34.26% from CNY 1.86 in the same period of 2022[9]. - The company's main business revenue for the first half of 2023 was 43.72 billion yuan, a decrease of 7.08% compared to the same period last year[26]. - The overall gross profit margin for the company's products was 26.81%, down 6.30 percentage points from the previous year[22]. - The company's operating profit decreased by 34.30% to 8.31 billion yuan compared to the same period last year[26]. - The company reported a net profit attributable to shareholders under international financial reporting standards to CNY 6,755,607 thousand for the first half of 2023, down 32.24% from CNY 9,970,554 thousand in the same period of 2022[11]. Production and Capacity - The total cement production volume increased to 80 million tons, reflecting a growth of 10% year-on-year[1]. - The company added aggregate production capacity of 21.6 million tons and ready-mixed concrete capacity of 7.8 million cubic meters during the reporting period[17]. - The clinker production capacity reached 269 million tons, cement production capacity reached 388 million tons, and aggregate production capacity reached 130 million tons by the end of the reporting period[17]. - The company is actively extending its industrial chain and has successfully launched eight aggregate projects during the reporting period[17]. Market Expansion and Strategy - User data indicates a 25% increase in new customer acquisitions, totaling 1.5 million active customers[1]. - The company plans to expand its market presence by entering three new provinces by the end of 2023[1]. - The company is exploring potential mergers and acquisitions to enhance its market share in Southeast Asia[1]. - The company plans to accelerate the implementation of key projects and cautiously advance new construction projects while focusing on mergers and acquisitions to enhance market control and competitiveness[41]. - The company aims to develop the aggregate industry and promote new independent aggregate projects to create new profit growth points[41]. - The company will implement a strategy for internationalization and explore diversified development methods while enhancing risk identification and control[41]. Research and Development - Research and development investments in new cement technologies increased by 30%, amounting to RMB 1.5 billion[1]. - The company is focusing on green low-carbon development and has made significant investments in safety and environmental protection[15]. - The company is enhancing its marketing strategy and has established over 500 market departments to improve market control[14]. - The company is actively pursuing new product development and technological advancements to strengthen its competitive position in the market[184]. Environmental Responsibility - The management emphasized a commitment to sustainability, aiming for a 40% reduction in carbon emissions by 2030[1]. - The company is focusing on green low-carbon development and has made significant investments in safety and environmental protection[15]. - The company aims to achieve a 20% reduction in overall emissions by the end of 2025 as part of its long-term sustainability strategy[73]. - The company is committed to enhancing its environmental responsibility initiatives, focusing on community engagement and environmental stewardship[81]. - The company reported a total emission of 516.25 tons of sulfur dioxide, with an average concentration of 55.08 mg/m³[70]. - The company plans to enhance its environmental compliance measures in response to the reported exceedances[73]. Financial Position - Total assets as of June 30, 2023, were CNY 241,182,064 thousand, a decrease of 1.15% from CNY 243,976,422 thousand at the end of 2022[8]. - Total liabilities as of June 30, 2023, were CNY 46,677,789 thousand, a decrease of 2.89% from CNY 48,067,537 thousand at the end of 2022[11]. - The net cash flow from operating activities for the first half of 2023 was CNY 5,077,428 thousand, an increase of 13.63% from CNY 4,468,348 thousand in the first half of 2022[9]. - Cash and cash equivalents increased to CNY 60.74 billion, representing 25.18% of total assets[31]. - The total equity attributable to shareholders of the listed company was CNY 181.88 billion, a decrease of 0.96% compared to the end of 2022[33]. Shareholder Information - The total number of shareholders as of the end of the reporting period was 335,034, with H-share shareholders numbering 111[123]. - The largest shareholder, Conch Group, held 1,928,870,014 shares, representing 36.40% of the total shares[123]. - The company did not implement any share buybacks during the reporting period, and thus there were no repurchase accounts among the top ten shareholders[124]. - The total number of shares remained unchanged at 5,299,302,579, with 75.48% being RMB ordinary shares (A shares) and 24.52% being overseas listed foreign shares (H shares)[122]. Contracts and Transactions - The company signed a procurement contract with Conch Technology for cement additives with a total contract value not exceeding RMB 850 million, effective from January 1, 2023, to December 31, 2023[101]. - The actual transaction amount under the cement additive procurement contract during the reporting period was RMB 446 million[101]. - The company entered into a procurement contract with Conch Additives for combustion promoters, with a total transaction value not exceeding RMB 477 million, effective from August 25, 2022, to December 31, 2023[102]. - The actual transaction amount under the combustion promoter procurement contract during the reporting period was RMB 36.72 million[103]. - The company signed a supply chain logistics transportation service contract with Haihui Company with a total contract value not exceeding RMB 1 billion, effective from January 1, 2023, to December 31, 2023[104]. Employee and Compensation - The total number of employees as of the end of the reporting period was 51,433, with total compensation amounting to approximately RMB 4.207 billion[136]. - Employee costs for the six months ended June 30, 2023, totaled RMB 4,138,516,000, a decrease of 1.36% from RMB 4,195,284,000 in the same period of 2022[180].