中期報告 公司資料 2 4 5 17 22 23 24 簡明綜合權益變動表 簡明綜合現金流量表 簡明綜合財務報表附註 公司資料 中國天瑞集團水泥有限公司 2024 中期報告 2 | --- | --- | |--------------------------------------------|--------------------------| | | | | 香港營業地點 | 法律顧問 | | 香港灣仔 | 中國法律 | | 港灣道 25 號 | | | 海港中心 | 德恒律師事務所 | | 18 樓 1806 室 | 中國北京市 | | | 西城區金融大街 19 號 | | 公司網址 | 富凱大廈 B 座 12 層 | | | 郵編： 100033 | | http://www.trcement.com | 香港證券登記處 | | 聯席公司秘書 | 香港中央證券登記有限公司 | | 李江銘先生 | 香港灣仔 | | 陳坤先生（於二零二四年十月十六日辭任） | 皇后大道東 183 號 | | 雷美嘉女士（於二零二四年十月十六日獲委任） | 合和中心 | | | 17 樓 1712–1716 室 | 開 ...

（股份代號：1252） （於開曼群島註冊成立的有限公司） 茲提述(i)本公司日期為二零二四年十二月四日的公告（「該公告」），內容有關（其中 包括）委任估值師及刊發已完成二零二四中期業績的最新消息；及(ii)日期為二零二 四年十一月二十九日的截至二零二四年六月三十日止六個月中期業績公告（「初步二 零二四中期業績公告」）。除另有界定者外，本公告所用的詞匯具有該公告及初步二 零二四中期業績公告所界定的相同涵義。 經與估值師討論後，本集團管理層認為，根據於二零二四年六月三十日可獲取的財 務資料對聯營公司進行的估值可能不適當，原因為（其中包括）聯營公司財務資料的 準確性及公平性存疑。 – 1 – 在上述背景下，初步二零二四中期業績公告並無進一步最新消息。 | --- | --- | --- | |-------|-------|------------------------------------| | | | 承 董 事 會 命 | | | | 中 國 天 瑞 集 團 水泥 有 限 公 司 | | | | 主 席 | | | | 李 玄 煜 | – 2 – 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的 ...

证券时报网讯，中国天瑞水泥复牌飙涨1045%，复牌是由于上市覆核委员会在12月6日的聆讯后，基于 公司已发布中期业绩及解决导致停牌的问题，决定允许其股票重新交易。 此前，天瑞水泥因股价在4月9日暴跌99%而停牌，原因与大股东及其家属的证券账户中持有的股份被强 制平仓有关。 公司后来确认，强制出售的1000万股股份并未成功执行，并已取消。 校对：杨立林 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 1 (於開曼群島註冊成立的有限公司) (股份代號: 1252) 內幕消息 刊發二零二四中期業績的最新消息 本公告乃由中國天瑞集團水泥有限公司（「本公司」，連同其附屬公司統稱「本集 團」）根據香港聯合交易所有限公司（「聯交所」）證券上市規則（「上市規則」） 第13.09條及證券及期貨條例（香港法例第571章）第XIVA部內幕消息條文而作出。 茲提述(i)日期為二零二四年十一月二十九日之截至二零二四年六月三十日止六個月的 中期業績公告（「十一月二十九日中期公告」）及(ii)日期為二零二四年十一月二十九 日且題為「刊發二零二四中期業績的最新消息」之公告（「最新消息公告」）。除另 有界定外，本公告所用詞彙與該等公告所界定者具有相同涵義。 有待發佈的內幕消息 誠如十一月二十九日之中期公告所披露，二零二四年中期業績仍有待落實，並可能出 現進一步重大變動及會計調整，包括根據估值師之減值評估而作出之變動。因此，本 公司 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不對因本公告全部或任何部 分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 （股份代號：1252） （於開曼群島註冊成立的有限公司） 刊發二零二四中期業績的最新消息 茲提述(i)本公司日期為二零二四年十一月五日及二零二四年十一月八日的公告（「該 等公告」），內容有關（其中包括）要求覆核上市委員會決定、委任會計師及刊發二零 二四中期業績的最新消息；及(ii)日期為二零二四年十一月二十九日的截至二零二 四年六月三十日止六個月中期業績（「二零二四中期業績公告」）。除另有界定者外， 本公告所用的詞匯具有該等公告所界定的相同涵義。 刊發二零二四中期業績及上市覆核委員會覆核的最新消息 誠如日期為二零二四年十一月五日的公告所披露，由於有關聯營公司的會計事宜， 本公司無法根據上市委員會決定於二零二四年十一月五日前刊發其二零二四中期業 績。 為遵守聯交所指引刊發二零二四中期業績（加上董事會認為有關聯營公司的任何適 當及必要說明），同時確保財務報表必須仍然在所有重大方面屬準確及完整，且並 無誤導或欺 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而 產生或因依賴該等內容而引致的任何損失承擔任何責任。 （股份代號：1252） （於開曼群島註冊成立的有限公司） 截至二零二四年六月三十日止六個月的中期業績公告 集團財務摘要 | --- | --- | --- | --- | |----------------------------------|-------------------------------------|-----------------------------|--------| | | 截至六月三十日止六個月 \n二零二四年 | 二零二三年 | 變動 | | | 人民幣千元 | 人民幣千元 | 百分比 | | 收益 | 2,583,798 | 3,998,558 | –35.4% | | 毛利 | 615,063 | 940,131 | –34.6% | | 溢利 | 25,889 | 155,390 | –83.3% | | 其中：歸屬於本公司擁有人應佔溢利 | 28,290 | 15 ...

Production and Technology - The company's clinker production lines are all equipped with advanced NSP technology and waste heat recovery power generation technology, effectively reducing electricity costs and pollution[5] - The Zhengzhou Xingyang clinker production line, with a daily production capacity of over 12,000 tons, has been operating smoothly and efficiently since its commissioning in 2009[5] - The company has upgraded multiple production and management processes to achieve "unmanned" operations, with several enterprises upgraded to smart factories[5] - The company is actively involved in the construction of smart mines in Zhengzhou Xingyang[5] Regional Operations and Resources - The company has a strong presence in Henan and Liaoning provinces, with additional operations in Tianjin and Anhui, forming three core regional markets[5] - The company has abundant limestone resources and mixed material supplies in Henan, Anhui, and Liaoning provinces, with plans to acquire more quarries[5] - The company's production facilities are strategically located along major highways and railway lines in Henan, Liaoning, Tianjin, and Anhui[12] - The company's production facilities are concentrated in the central and northeastern regions of China, including Henan, Anhui, Liaoning, and Tianjin[12] Environmental and Sustainability Initiatives - The company is committed to environmental protection and sustainable development, investing in waste heat recovery, dust recovery, and low nitrogen oxide emission facilities[6] - The company is a member of the World Business Council for Sustainable Development's Cement Sustainability Initiative (CSI), being one of the first three Chinese cement companies to be accepted[6] Production Capacity and Joint Ventures - The company has a total annual production capacity of 28.4 million tons of clinker and 56.4 million tons of cement as of December 31, 2023[12] - In the Henan region (including Anhui), the cement production capacity is 37.3 million tons and clinker production capacity is 20.0 million tons[12] - In the Liaoning region (including Tianjin), the cement production capacity is 19.1 million tons and clinker production capacity is 8.4 million tons[12] - The company holds a 40% direct equity stake in a joint venture operating 2 new dry-process clinker production lines with an annual capacity of 3.1 million tons[12] - The company's attributable production capacity is approximately 29.6 million tons of clinker and 56.4 million tons of cement as of December 31, 2023[12] - The company has 13 aggregate production lines with a total capacity of 30.2 million tons as of December 31, 2023[12] Financial Performance - Revenue for 2023 was RMB 7,888.8 million, a decrease of 28.6% compared to RMB 11,055.4 million in 2022[14][16] - Net loss attributable to the company's owners was RMB 633.9 million in 2023, compared to a profit of RMB 448.7 million in 2022[14][16] - Cement sales volume in 2023 was 25.2 million tons, a decrease of 9.0% from 27.7 million tons in 2022[16] - Average cement price in 2023 was RMB 241.5 per ton, a decrease of 21.8% from RMB 308.7 per ton in 2022[16] - Limestone aggregate sales volume in 2023 was 43.6 million tons, an increase of 4.1% from 41.9 million tons in 2022[16] - Average limestone aggregate price in 2023 was RMB 34.5 per ton, a decrease of 12.6% from RMB 39.5 per ton in 2022[16] - Clinker sales volume in 2023 was 1.3 million tons, a decrease of 51.9% from 2.7 million tons in 2022[16] - Total assets increased to RMB 40,573.5 million in 2023 from RMB 32,343.6 million in 2022[15] - Total liabilities increased to RMB 24,787.4 million in 2023 from RMB 15,753.5 million in 2022[15] - Equity attributable to the company's owners decreased to RMB 15,466.4 million in 2023 from RMB 16,314.8 million in 2022[15] - Revenue in 2023 was approximately RMB 7,888.8 million, a decrease of RMB 3,166.6 million or 28.6% compared to 2022[19] - Revenue from cement sales in 2023 was approximately RMB 6,087.3 million, a decrease of RMB 2,465.4 million or 28.8% compared to 2022[19] - Cement sales volume decreased by 2.5 million tons to approximately 25.2 million tons in 2023, a decrease of 9.0% compared to 2022[19] - Revenue from limestone aggregate sales in 2023 was approximately RMB 1,502.8 million, a decrease of RMB 150.2 million or 9.1% compared to 2022[19] - Sales revenue in the Central China region in 2023 was approximately RMB 6,449.4 million, a decrease of RMB 2,385.6 million or 27.0% compared to 2022[20] - Sales revenue in the Northeast China region in 2023 was approximately RMB 1,439.5 million, a decrease of RMB 780.9 million or 35.2% compared to 2022[20] - Gross profit in 2023 was approximately RMB 1,629.3 million, a decrease of RMB 1,084.5 million or 40.0% compared to 2022[22] - EBITDA in 2023 was RMB 1,476.5 million, a decrease of RMB 1,442.0 million or 49.4% compared to 2022[23] - Pre-tax loss in 2023 was approximately RMB 629.8 million, compared to a pre-tax profit of RMB 687.9 million in 2022[26] - Income tax credit in 2023 was approximately RMB 6.3 million, compared to an income tax expense of RMB 148.6 million in 2022[26] - Other expenses decreased by RMB 40.1 million or 36.4% to RMB 70.0 million in 2023 compared to RMB 110.1 million in 2022, mainly due to reduced seasonal shutdown costs[27] - The company recorded a loss attributable to owners of RMB 633.9 million in 2023, compared to a profit of RMB 448.7 million in 2022[27] - Financial expenses increased by RMB 118.7 million or 11.5% to RMB 1,152.1 million in 2023 from RMB 1,033.4 million in 2022, primarily due to increased borrowing scale[27] - Trade and other receivables increased from RMB 9,240.2 million in 2022 to RMB 19,606.2 million in 2023, mainly due to increased bills receivable and prepayments to suppliers[28] - Cash and bank balances increased by RMB 187.0 million or 18.9% to RMB 1,174.8 million in 2023 from RMB 987.8 million in 2022, driven by net cash flows from operating, investing, and financing activities[30] - Total borrowings and bonds increased by RMB 8,955.9 million or 93.1% to RMB 18,578.6 million in 2023 from RMB 9,622.7 million in 2022[32] - The company's gearing ratio increased to 61.1% in 2023 from 48.7% in 2022, a rise of 12.4 percentage points[32] - Net debt ratio increased to 79.3% in 2023 from 24.9% in 2022, a rise of 54.4 percentage points[33] - Capital expenditures decreased to RMB 639.4 million in 2023 from RMB 936.6 million in 2022[35] - Assets pledged as collateral for bank borrowings amounted to RMB 4,030.0 million in 2023, compared to RMB 3,847.6 million in 2022[36] Risk Management and Liquidity - The company has established a liquidity risk management system to monitor and maintain appropriate levels of cash and cash equivalents, ensuring operational funding and reducing the impact of cash flow volatility[39] - The company faces currency risk due to operations primarily denominated in RMB, with some bank balances and borrowings in HKD or USD, and currently has no foreign currency hedging policy[40] Employee and Workforce - In 2023, the company had 6,892 employees (down from 7,299 in 2022) with employee costs of approximately RMB 562.3 million (compared to RMB 564.7 million in 2022)[41] Government and Market Outlook - The Chinese government's 2024 work report emphasizes stable economic growth, with a general public budget expenditure of RMB 28.5 trillion, an increase of RMB 1.1 trillion from the previous year[42] - The company expects the national cement market prices to continue fluctuating and plans to focus on cost reduction and market expansion to improve profitability in 2024[43] - The company aims to implement energy consumption and emission control measures, optimize production processes, and enhance market competitiveness in 2024[44] - A new national standard for general Portland cement (GB 175–2023) will be implemented from June 1, 2024, which is expected to eliminate low-quality cement products and reduce market supply[45] - The company plans to strengthen internal management, stabilize existing customers, and explore new markets, including high-grade cement for key projects and low-grade cement for civilian use[46] - The company will continue to extend its industrial chain, explore new energy businesses, and promote intelligent and green development to seek new profit growth points[46] Corporate Governance and Board Structure - The board of directors consists of nine members, including five executive directors, one non-executive director, and three independent non-executive directors as of December 31, 2023[47][48] - Li Liufa, aged 66, is the founder of the group and has been a non-executive director since July 2, 2011, and a member of the nomination committee since June 15, 2018. He is responsible for the overall strategic planning and business management of the group[49] - Li Xuanyu, aged 37, was appointed as an executive director and chairman of the board on October 21, 2022. He has extensive experience in administration and corporate management and holds multiple leadership positions within the group and its subsidiaries[50] - Li Fengluan, aged 61, has been an executive director since January 18, 2018, with over 30 years of experience in finance, accounting, auditing, and operational management. She holds a CPA qualification in China[50] - Ding Jifeng, aged 54, has been an executive director since May 15, 2017, and is the general manager of Tianrui Cement Group Co., Ltd. He has extensive experience in the cement industry and is responsible for the daily operations of the company[51] - Xu Wuxue, aged 48, has been an executive director and CFO since May 11, 2013, with extensive experience in finance and accounting. He has held various financial leadership roles within the group[52] - Li Jiangming, aged 46, has been an executive director since June 11, 2014, and is responsible for capital market financing and investor relations. He has extensive experience in capital operations[52] - Kong Xiangzhong, aged 69, has been an independent non-executive director since December 24, 2012, and serves as the chairman of the nomination committee and a member of the audit and remuneration committees[53] - Kong Xiansheng is the Executive President of the China Cement Association, a professor-level senior engineer, and an expert enjoying special government allowances from the State Council[54] - Wang Ping has nearly 20 years of experience in corporate finance, auditing, accounting, and taxation, and currently serves as an independent non-executive director for multiple listed companies[54] - Du Xiaotang has extensive experience in corporate finance, capital markets, private equity investment, mergers and acquisitions, and legal compliance consulting for listed companies[56] - Li Fengluan is the Chairman of Tianrui Cement Group Co., Ltd., with detailed experience outlined in the "Directors" section[56] - Ding Jifeng is the General Manager of Tianrui Cement Group Co., Ltd., with detailed experience outlined in the "Directors" section[56] - Jing Xianyu has rich experience in the cement industry and has held various senior management positions within the group since joining in 2000[56] - Xu Wuxue serves as the Chief Financial Officer of the company and the Financial Director of Tianrui Cement Group Co., Ltd.[57] - Li Jiangming is the Deputy General Manager of Tianrui Cement Group Co., Ltd. and the Chief Representative for Hong Kong business[58] - Lü Xing is the Deputy Financial Director of the company and the Chief Accountant of Tianrui Cement Group Co., Ltd., with extensive experience in financial reporting and analysis[58] - Li Tao is the Deputy General Manager and Head of the Quality Department of Tianrui Cement Group Co., Ltd., with a background in quality engineering and cement production[58] Financial Reserves and Dividends - The company's distributable reserves as of December 31, 2023, were RMB 1,683 million, compared to RMB 1,746 million in the previous year[61] - The company did not recommend a final dividend for the year ended December 31, 2023, consistent with the previous year[60] Subsidiaries and Financial Statements - The company's major subsidiaries are detailed in Note 50 of the consolidated financial statements, primarily engaged in limestone mining, clinker, and cement production, sales, and distribution[60] - The company's property, plant, and equipment changes during the year are detailed in Note 17 of the consolidated financial statements[60] - Bank loans and other borrowings details are provided in Notes 32, 33, 34, and 36 of the consolidated financial statements[60] - The company's public shareholding percentage remained compliant with the Hong Kong Stock Exchange's minimum public float requirements[61] - The company's directors and senior management held approximately 69.58% of the company's shares through controlled entities as of December 31, 2023[66] - During the year, the company released and re-pledged shares as loan guarantees, with 180 million shares released and 160 million shares re-pledged on January 9, 2023, and 70 million shares released and 45 million shares re-pledged on September 11, 2023[67] - The company did not have any share capital changes during the year ended December 31, 2023[60] - The company's reserves and equity changes are detailed in the consolidated statement of changes in equity[60] - The company did not purchase, sell, or redeem any of its listed securities during the year ended December 31, 2023[69] - The company's financial and operational independence from Pingdingshan Ruiping Shilong was confirmed as of December 31, 2023[71] - The company holds the option to acquire shares in Shanshui Cement but decided not to exercise it at this stage, considering its recent performance[72] - The company's directors and controlling shareholders did not have any interests in businesses competing with the group as of December 31, 2023[73] - The independent non-executive directors reviewed and confirmed compliance with the non-compete deed by the controlling shareholders[74] - The company made contributions of RMB 49.3 million to employee welfare plans during the year ended December 31, 2023[77] Shareholding and Loans - Yukuo holds 2,044,484,822 shares, representing 69.58% of the company's total shares[80] - China Huarong Asset Management holds 470,000,000 shares, representing 16.00% of the company's total shares[80] - Yukuo pledged 160,000,000 shares as collateral for a loan on January 9, 2023[81] - Yukuo pledged 45,000,000 shares as collateral for a loan on September 11, 2023[81] - Loan A of RMB 80,000,000 was secured by 45,000,000 shares, representing 1.53% of the company's total shares[83] - Loan B of USD 29,570,000 was secured by 140,000,000 shares, representing 4.76% of the company's total shares[84] - Loan C of RMB 173,000,000 was secured by 160,000,000 shares, representing 5.45% of the company's total shares[84] - Loan D of RMB 166,500,000 was secured by 97,000,000 shares, representing 3.3% of the company's total shares[84] - Tianrui Group must maintain at least 50% ownership of the company's total shares to avoid default on Loan A[83] - Li Liufa and Li Fenglian must jointly hold at least 51% of the company's total shares to avoid default on Loan B[84] Transactions and Guarantees - The total transaction amount for clinker purchased by Tianrui Cement from Ruiping Shilong in 2023 was RMB 136.0 million[87] - The annual cap for clinker purchase transactions under the framework agreement for 2022, 2023, and 2024 is RMB 1.2 billion each year[87] - The annual cap for limestone supply transactions under the 2021 framework agreement for 2022, 2023, and 2024 is RMB 300 million each year[89] - The total transaction amount for limestone sold by Tianrui Cement to Ruiping Shilong in 2023 was zero[89] - The maximum daily balance of guarantees provided by Tianrui Cement to Tianrui Group in 2023 was RMB 2 billion[91] - The maximum daily balance of guarantees provided by Tianrui Group to Tianrui Cement in 2023 was RMB 8.2 billion[91] - The daily balance cap for guarantees provided by Tianrui Cement under the 2022 framework agreement is RMB 3 billion annually from 2023 to 2025[92] - The daily balance cap for guarantees provided by Tianrui Group under the 2022 framework agreement is RMB 7 billion annually from 2023 to 2025[92

Revenue and Profit Decline - Revenue decreased to RMB 7,888,810 thousand in 2023 from RMB 11,055,439 thousand in 2022, a decline of 28.6%[2] - Gross profit dropped to RMB 1,629,323 thousand in 2023 from RMB 2,713,844 thousand in 2022, a decrease of 40%[2] - Net loss attributable to the company's owners was RMB 633,875 thousand in 2023, compared to a profit of RMB 448,690 thousand in 2022[2] - Basic loss per share was RMB 0.22 in 2023, compared to a profit of RMB 0.15 per share in 2022[2] - Revenue from cement sales in 2023 was RMB 6,087,333 thousand, a decrease from RMB 8,552,711 thousand in 2022[12] - Revenue from limestone aggregate sales in 2023 was RMB 1,502,820 thousand, down from RMB 1,652,967 thousand in 2022[12] - Revenue from clinker sales in 2023 was RMB 298,657 thousand, significantly lower than RMB 849,761 thousand in 2022[12] - Total revenue in 2023 was RMB 7,888,810 thousand, compared to RMB 11,055,439 thousand in 2022[12] - The company's net loss attributable to owners in 2023 was RMB 633.875 million, compared to a net profit of RMB 448.690 million in 2022[29] - Total revenue in 2023 decreased by 28.6% to RMB 7,888.8 million compared to 2022[35] - The company's revenue in 2023 was approximately RMB 7,888.8 million, a decrease of 28.6% compared to RMB 11,055.4 million in 2022[40] - Revenue from cement sales in 2023 was approximately RMB 6,087.3 million, a decrease of 28.8% compared to 2022, with cement sales volume decreasing by 9.0% to 25.2 million tons[40] - Revenue from limestone aggregate sales in 2023 was approximately RMB 1,502.8 million, a decrease of 9.1% compared to 2022, despite a 4.1% increase in sales volume to 43.6 million tons[40] - The company's gross profit in 2023 was approximately RMB 1,629.3 million, a decrease of 40.0% compared to 2022, with the gross margin dropping from 24.5% to 20.7%[43] - The company's EBITDA in 2023 was RMB 1,476.5 million, a decrease of 49.4% compared to RMB 2,918.5 million in 2022[45] - Pre-tax loss of approximately RMB 629.8 million in 2023, compared to a profit of RMB 687.9 million in 2022[51] Asset and Liability Changes - Total assets increased to RMB 40,573,494 thousand in 2023 from RMB 32,343,592 thousand in 2022, a growth of 25.4%[2] - Current assets rose significantly to RMB 27,326,926 thousand in 2023 from RMB 16,874,102 thousand in 2022, an increase of 62%[2] - Total liabilities increased to RMB 24,787,427 thousand in 2023 from RMB 15,753,498 thousand in 2022, a rise of 57.3%[2] - Current liabilities grew to RMB 18,814,217 thousand in 2023 from RMB 13,521,730 thousand in 2022, an increase of 39.1%[2] - Total assets in the Central China segment increased to RMB 33,747,731 thousand in 2023 from RMB 25,588,318 thousand in 2022[16] - Total assets in the Northeast China segment increased to RMB 6,665,705 thousand in 2023 from RMB 6,581,467 thousand in 2022[16] - Total liabilities in the Central China segment increased to RMB 20,886,620 thousand in 2023 from RMB 12,660,769 thousand in 2022[16] - Total liabilities in the Northeast China segment increased to RMB 3,440,574 thousand in 2023 from RMB 2,604,290 thousand in 2022[16] - Trade receivables in 2023 increased to RMB 142.705 million from RMB 109.361 million in 2022, with a significant increase in receivables over 181 days[32] - Trade payables in 2023 increased to RMB 1,075.859 million from RMB 993.114 million in 2022, with a notable increase in payables over 1 year[34] - Trade and other receivables increased from RMB 9,240.2 million in 2022 to RMB 19,606.2 million in 2023, mainly due to an increase in bills receivable and prepayments to suppliers[52] - Cash and cash equivalents increased by RMB 187.0 million or 18.9% to RMB 1,174.8 million in 2023, driven by net cash flows from operating, investing, and financing activities[55] - Total borrowings and bonds increased by RMB 8,955.9 million or 93.1% to RMB 18,578.6 million in 2023, with short-term borrowings rising to RMB 13,345.3 million and long-term borrowings to RMB 5,233.3 million[56] - Asset-liability ratio increased to 61.1% in 2023 from 48.7% in 2022, reflecting a 12.4 percentage point increase due to reduced owner's equity and increased borrowings[58] - Net debt ratio surged to 79.3% in 2023 from 24.9% in 2022, a 54.4 percentage point increase, calculated as net debt divided by equity attributable to owners[60] Segment Performance - The Central China segment reported a loss of RMB 347,027 thousand in 2023, compared to a profit of RMB 845,737 thousand in 2022[14] - The Northeast China segment reported a loss of RMB 197,210 thousand in 2023, compared to a profit of RMB 89,226 thousand in 2022[14] Production and Sales Volume - Cement sales volume in 2023 decreased by 9.0% to 25.2 million tons, with an average price decrease of 21.8% to RMB 241.5 per ton[35] - Limestone aggregate sales volume in 2023 increased by 4.1% to 43.6 million tons, with an average price decrease of 12.6% to RMB 34.5 per ton[35] - Clinker sales volume in 2023 decreased by 1.4 million tons to 1.3 million tons compared to 2022[35] - The company's production capacity remained unchanged in 2023, with 28.4 million tons of clinker, 56.4 million tons of cement, and 30.2 million tons of limestone aggregate[35] Expenses and Costs - Financial expenses rose to RMB 1.15 billion in 2023 compared to RMB 1.03 billion in 2022[17][18] - The company's financial expenses in 2023 increased by 11.5% to RMB 1,152.1 million, mainly due to increased borrowing scale and interest expenses[49] - The company's administrative expenses in 2023 decreased by 5.1% to RMB 905.6 million, primarily due to cost-saving measures[47] - The company's other income in 2023 decreased by 25.8% to RMB 396.6 million, mainly due to reduced VAT refunds and other business-related income[46] - The company's other expenses in 2023 decreased by 36.4% to RMB 70.0 million, primarily due to reduced seasonal shutdown costs[48] - Current tax expenses for corporate income tax in China dropped significantly to RMB 12.03 million in 2023 from RMB 121.89 million in 2022[26] - The company's sales cost in 2023 was approximately RMB 6,259.5 million, a decrease of 25.0% compared to 2022, primarily due to lower coal and raw material procurement prices[42] Investments and Capital Expenditures - New property, plant, and equipment additions totaled RMB 394.17 million in 2023, a decrease from RMB 696.79 million in 2022[17][18] - Property, plant, and equipment decreased to RMB 9,279,029 thousand in 2023 from RMB 9,768,770 thousand in 2022, a decline of 5%[5] - Capital expenditures decreased to RMB 639.4 million in 2023 from RMB 936.6 million in 2022, primarily related to the construction of cement and aggregate production facilities[60] Government Subsidies and Tax Refunds - VAT refunds decreased to RMB 112.21 million in 2023 from RMB 173.39 million in 2022[20] - Government incentive subsidies remained stable at RMB 46.68 million in 2023, slightly down from RMB 47.60 million in 2022[20] Other Financial Metrics - Cash, deposits, and bank balances increased to RMB 5,118,386 thousand in 2023 from RMB 4,546,923 thousand in 2022, a growth of 12.6%[5] - Software service revenue more than doubled to RMB 24.62 million in 2023 from RMB 10.76 million in 2022[20] - Expected credit loss model impairment losses (net of reversal) increased to RMB 5.01 million in 2023 from RMB 1.24 million in 2022[22] - Interest income from bank deposits grew to RMB 97.42 million in 2023 from RMB 88.06 million in 2022[20] - Foreign exchange gains improved to RMB 17.94 million in 2023 from a loss of RMB 141.64 million in 2022[25] - Total depreciation and amortization in 2023 decreased to RMB 954.261 million from RMB 1,197.181 million in 2022[28] - Foreign exchange gain of RMB 17.9 million in 2023, compared to a loss of RMB 141.6 million in 2022, due to the depreciation of the USD against RMB[50] Corporate Governance and Operations - The company has not appointed a new CEO since the resignation of the former CEO on December 1, 2015, and has established an Executive Committee consisting of five executive directors to oversee daily operations[71] - The company has adopted the Standard Code for Securities Transactions by Directors of Listed Issuers and confirmed that all directors complied with the code during the year ended December 31, 2023[72] - The Audit Committee, composed of three independent non-executive directors, reviewed the company's accounting principles and practices, and the full-year results for the year ended December 31, 2023[73][74] - The company did not purchase, sell, or redeem any of its listed securities in 2023[74] - No final dividend was recommended for the year ended December 31, 2023[74] - The annual results and annual report are available on the company's website and the Hong Kong Exchanges and Clearing Limited website[74] - The Board of Directors consists of the Chairman and Executive Director, four other Executive Directors, one Non-Executive Director, and three Independent Non-Executive Directors[76] Employee and Operational Costs - The company had 6,892 employees in 2023, down from 7,299 in 2022, with employee costs (including salaries) at RMB 562.3 million, slightly lower than RMB 564.7 million in 2022[66] Future Plans and Strategic Initiatives - The company plans to optimize ultra-low emissions and promote staggered production to maintain industry and corporate interests[69] - The company aims to extend its industrial chain by exploring new energy businesses such as wind, solar, and energy storage to seek new profit growth points[69] - The company has 19 A-level, B-level, and performance-leading enterprises, with 14 national or provincial green mines and 11 green factories, including 8 national-level green factories[70] - The company has 21 smart factories and 19 high-tech enterprises, with 9 subsidiaries passing the high-tech enterprise re-evaluation during the reporting period[70] - The company has successfully developed and upgraded key technologies such as ultra-low emissions, grate coolers, ammonia-free denitrification, and high-temperature fans[70] - The company's subsidiary, Weihui Tianrui Cement, was awarded the title of National Quality Benchmark Enterprise for its "12406" high-quality development model in key process quality control[70] - The company's general public budget expenditure for 2024 is planned at 28.5 trillion yuan, an increase of 1.1 trillion yuan compared to the previous year[68] - The company plans to issue 1 trillion yuan in ultra-long-term special government bonds in 2024 to fund major national strategic projects and key security capacity construction[68] - The company has identified 1,284 key construction projects in Henan Province for 2024, with a total investment of approximately 3.9 trillion yuan and an annual planned investment of about 1.1396 trillion yuan[68] - The company has determined 300 provincial key projects in Liaoning Province for 2024, with a total investment exceeding 1.4 trillion yuan and an annual planned investment of over 1.7 trillion yuan[68]

（於開曼群島註冊成立的有限公司） 股份代號：1252 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而 產生或因依賴該等內容而引致的任何損失承擔任何責任。 （於開曼群島註冊成立的有限公司） （股份代號：1252） 截至二零二三年六月三十日止六個月的 中期業績公告 集團財務摘要 截至六月三十日止六個月 二零二三年 二零二二年 變動 人民幣千元 人民幣千元 百分比 收益 3,998,558 5,321,033 –24.9% 毛利 940,131 1,448,998 –35.1% 溢利 155,390 495,752 –68.7% 其中：歸屬於本公司擁有人應佔溢利 150,521 456,536 –67.0% 每股基本盈利（人民幣） 0.05 0.16 –67.0% 於二零二三年 於二零二二年 ...