Production Capacity and Facilities - The company's clinker production lines all adopt advanced NSP technology and are equipped with waste heat recovery power generation technology, effectively saving electricity costs and reducing pollution[5] - The Zhengzhou Xingyang clinker production line, with a daily production capacity of over 12,000 tons, is among the world's leading levels and has been operating stably since its commissioning in 2009[5] - The company has upgraded multiple production and management processes to "unmanned operation," with several enterprises upgraded to smart factories and the construction of a smart mine in Zhengzhou Xingyang underway[5] - The company possesses abundant limestone resources and mixed material supplies in its main operating regions, including Henan, Anhui, and Liaoning provinces, with each clinker production line supported by a dedicated limestone mine[5] - 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, 2022[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 owns 13 aggregate production lines with a total capacity of 30.2 million tons as of December 31, 2022[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, 2022[12] - 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] - The company's production facilities are strategically positioned at the intersection of limestone resources, terminal markets, and transportation hubs[12] - The company's aggregate production capacity increased from 20.2 million tons in 2021 to 30.2 million tons in 2022[12] Environmental and Sustainability Initiatives - The company is one of the first three Chinese cement companies admitted as a member of the World Business Council for Sustainable Development's Cement Sustainability Initiative (CSI)[6] - The company has invested in waste heat recovery power generation facilities, dust recovery facilities, ultra-low nitrogen oxide emission transformation facilities, and waste rock and urban waste recycling facilities, demonstrating its commitment to environmental protection and sustainable development[6] - The company has been awarded green mine, green factory, and clean factory certifications for several of its plants[6] - The company is actively involved in the "carbon neutrality" initiative and peak production policies to maintain and improve the industry landscape[38] - The company has implemented measures to reduce emissions, conserve resources, and improve occupational safety and health, which are expected to enhance revenue, brand image, and operational efficiency[100] Financial Performance - Revenue decreased by 13.1% to RMB 11,055.4 million in 2022 compared to RMB 12,716.8 million in 2021[14] - Gross profit declined by 16.1% to RMB 2,713.8 million in 2022 from RMB 3,233.8 million in 2021[14] - Net profit attributable to the company's owners dropped by 62.6% to RMB 448.7 million in 2022 from RMB 1,200.6 million in 2021[14] - Cement sales volume decreased by 22.3% to 27.7 million tons in 2022 compared to 35.7 million tons in 2021[16] - Aggregate sales volume increased by 109.1% to 41.9 million tons in 2022 from 20.0 million tons in 2021[16] - Clinker sales volume rose by 92.9% to 2.7 million tons in 2022 compared to 1.4 million tons in 2021[16] - Total assets decreased by 1.0% to RMB 32,343.6 million in 2022 from RMB 32,658.2 million in 2021[15] - Total liabilities declined by 5.0% to RMB 15,753.5 million in 2022 from RMB 16,590.0 million in 2021[15] - Total equity increased by 3.2% to RMB 16,590.1 million in 2022 from RMB 16,068.3 million in 2021[15] - The cement industry's profit for the full year is expected to be around 68 billion yuan, a decrease of over 100 billion yuan compared to 2021, representing a year-on-year decline of approximately 60%[20] - The company's revenue from cement sales in 2022 was approximately 8,552.7 million yuan, a decrease of 2,853.0 million yuan or 25.0% compared to 2021[21] - Cement sales volume decreased by 8.0 million tons to approximately 27.7 million tons in 2022, a decline of 22.3% compared to 2021[21] - Revenue from clinker sales in 2022 was approximately 849.8 million yuan, an increase of 424.5 million yuan or 99.8% compared to 2021, driven by both increased sales volume and price[21] - Revenue from aggregate sales in 2022 was approximately 1,653.0 million yuan, an increase of 767.2 million yuan or 86.6% compared to 2021, primarily due to increased sales volume[21] - Aggregate sales volume increased by 21.9 million tons to approximately 41.9 million tons in 2022, a growth of 109.1% compared to 2021[21] - The company's total revenue in 2022 was approximately 11,055.4 million yuan, a decrease of 1,661.4 million yuan or 13.1% compared to 2021[21] - Sales cost in 2022 was approximately 8,341.6 million yuan, a decrease of 1,141.4 million yuan or 12.0% compared to 2021, mainly due to reduced cement sales volume[22] - Raw materials, coal, and electricity costs accounted for approximately 28.4%, 44.4%, and 11.9% of the cement and clinker sales costs in 2022, respectively[22] - The cost per ton of cement and clinker for raw materials, coal, and electricity in 2022 was approximately 70.5 yuan, 110.3 yuan, and 29.6 yuan, respectively, with raw material costs decreasing by 10.7 yuan and coal and electricity costs increasing by 11.4 yuan and 2.3 yuan compared to 2021[22] - Gross profit decreased by RMB 520.0 million or 16.1% to RMB 2,713.8 million in 2022, with gross margin dropping from 25.4% to 24.5% due to lower cement prices and higher per-ton costs[23] - Segment profit in the Central China region fell by RMB 329.8 million or 28.1% to RMB 845.7 million, while the Northeast region's segment profit dropped by RMB 286.5 million or 76.2% to RMB 89.2 million, both due to lower cement sales and unit gross profit[23] - Other income increased slightly by RMB 12.6 million or 2.4% to RMB 534.5 million, with VAT refunds decreasing but other business income rising[24] - Selling and distribution expenses decreased by RMB 175.7 million or 42.2% to RMB 240.6 million, mainly due to reduced transportation and packaging costs from lower cement sales[25] - Administrative expenses increased by RMB 37.3 million or 4.1% to RMB 954.3 million, primarily due to higher land compensation fees[26] - Other expenses rose by RMB 5.0 million or 4.7% to RMB 110.1 million, mainly due to seasonal production stoppages[27] - Finance costs increased by RMB 31.9 million or 3.2% to RMB 1,033.4 million, driven by higher interest on other financial liabilities[28] - Foreign exchange loss of RMB 141.6 million was recorded, compared to a gain of RMB 88.4 million in 2021, due to USD-denominated loans and RMB depreciation[28] - Profit before tax decreased by RMB 765.2 million or 52.7% to RMB 687.9 million, while net profit attributable to owners dropped by RMB 751.9 million or 62.6% to RMB 448.7 million[28] - Cash and cash equivalents decreased by RMB 1,322.8 million or 57.2% to RMB 987.8 million, mainly due to lower operating cash flow compared to investment and financing activities[28] - The company's total borrowings and bonds (including corporate bonds) amounted to approximately RMB 9,622.7 million as of December 31, 2022, a decrease of RMB 1,042.0 million or 9.8% compared to RMB 10,664.7 million in 2021[29] - The company's current ratio was approximately 1.2 as of December 31, 2022, consistent with 1.3 in 2021, while the quick ratio remained at 1.2, unchanged from 2021[29] - The company's asset-liability ratio decreased to 48.7% as of December 31, 2022, down 2.1 percentage points from 50.8% in 2021, primarily due to an increase in owner's equity[29] - The company's net debt ratio was approximately 24.9% as of December 31, 2022, nearly unchanged from 24.8% in 2021[29] - Capital expenditures for the year ended December 31, 2022, were approximately RMB 936.6 million, compared to RMB 547.8 million in 2021, primarily related to the construction of cement and aggregate production facilities[29] - The company's equity ratio decreased to 0.9 as of December 31, 2022, down 8.0% from approximately 1.0 in 2021[29] - The company provided financial guarantees to related parties amounting to approximately RMB 1,632.0 million as of December 31, 2022, with actual usage of approximately RMB 802.8 million[32] - The company had 7,299 employees as of December 31, 2022, with employee costs (including salaries) of approximately RMB 564.7 million, slightly down from RMB 567.4 million in 2021[37] - The company's assets pledged as collateral for bank borrowings amounted to approximately RMB 4,585.1 million as of December 31, 2022, up from RMB 4,259.1 million in 2021[30] - The company did not engage in any significant investments, acquisitions, or disposals during the year ended December 31, 2022[33] - The company's recommended annual caps for credit services for the years ending December 31, 2020, 2021, and 2022 are RMB 3 billion each year[93] - The company's deposits with Tianrui Finance, including accrued interest, did not exceed RMB 1.2 billion annually from 2020 to 2022[89] - Tianrui Finance provided credit financing services to the company's cement group, with a total amount not exceeding RMB 3 billion annually from 2020 to 2022[90] - The company and Tianrui Group entered into a mutual guarantee framework agreement in 2019, with the company's guarantee limit set at RMB 3 billion annually from 2020 to 2022[84] - The company's wholly-owned subsidiary, Tianrui Cement Group Limited, had a maximum daily deposit amount of RMB 893.4 million with Tianrui Finance as of December 31, 2022[94] - Tianrui Finance provided Tianrui Cement with an unsecured loan with a maximum daily balance of RMB 1,450.0 million for credit services as of December 31, 2022[94] - The company's top five customers accounted for less than 30% of the group's total sales for the fiscal year ended December 31, 2022[99] - The company's top five suppliers accounted for less than 30% of the group's total purchases for the fiscal year ended December 31, 2022[99] - The company ranks among the top 10 global clinker production capacity companies and top 20 global cement production capacity companies, and has been recognized as a "Century Craftsman" and a leading manufacturing enterprise in Henan Province[100] - The company faces risks from the global economic slowdown, which may reduce demand for cement and clinker in the Chinese market[102] - The company plans to adopt a cautious approach to capacity expansion and focus on improving operational efficiency in response to potential reduced demand[102] - The company's total equity increased from RMB 14,822,898 thousand in 2021 to RMB 16,590,094 thousand in 2022, reflecting a growth of approximately 11.9%[158] - Net profit attributable to the company's owners decreased from RMB 1,200,590 thousand in 2021 to RMB 448,690 thousand in 2022, a decline of approximately 62.6%[158] - The statutory reserve increased from RMB 1,494,538 thousand in 2021 to RMB 1,662,050 thousand in 2022, showing a growth of approximately 11.2%[158] - The company's operating cash flow from activities decreased from RMB 2,730,409 thousand in 2021 to RMB 1,937,924 thousand in 2022, a decline of approximately 29.0%[161] - The company's profit before tax decreased from RMB 1,453,103 thousand in 2021 to RMB 687,886 thousand in 2022, a decline of approximately 52.7%[161] - The company's depreciation of property, plant, and equipment increased slightly from RMB 1,054,862 thousand in 2021 to RMB 1,057,329 thousand in 2022[161] - The company's financial expenses increased from RMB 1,001,454 thousand in 2021 to RMB 1,033,388 thousand in 2022, reflecting a growth of approximately 3.2%[161] - The company's inventory increased by RMB 192,241 thousand in 2022 compared to a decrease of RMB 190,049 thousand in 2021[161] - The company's trade and other receivables increased by RMB 193,640 thousand in 2022 compared to an increase of RMB 40,896 thousand in 2021[161] - The company's trade and other payables decreased by RMB 660,032 thousand in 2022 compared to a decrease of RMB 543,378 thousand in 2021[161] - Investment activities resulted in a net cash outflow of RMB 897.392 million, compared to RMB 1.184 billion in the previous year[162] - The company received RMB 94.445 million in interest income, slightly up from RMB 92.746 million in 2021[162] - Property, plant, and equipment expenditures increased significantly to RMB 851.29 million from RMB 295.898 million in 2021[162] - New borrowings amounted to RMB 8.758 billion, up from RMB 7.684 billion in the previous year[162] - Repayment of borrowings increased to RMB 8.666 billion from RMB 6.187 billion in 2021[162] - Cash and cash equivalents decreased by RMB 1.323 billion, ending the year at RMB 987.797 million[162] - The company applied revised International Financial Reporting Standards (IFRS) effective from January 1, 2022, with no material impact on financial statements[165] - The company has not early adopted new and revised IFRS standards that are issued but not yet effective, including IFRS 17 on insurance contracts[166] - The company's primary business is the manufacture and sale of cement, clinker, and limestone aggregates[163] - The company's registered office is in the Cayman Islands, with its principal place of business in Ruzhou City, Henan Province, China[163] - The company will recognize deferred tax assets and liabilities related to the right-of-use assets and lease liabilities, with deferred tax assets of RMB 1,380,000 and deferred tax liabilities of RMB 1,435,000 as of December 31, 2022[168] - The right-of-use assets and lease liabilities had book values of RMB 9,568,000 and RMB 9,197,000 respectively as of December 31, 2022[168] - The company prepares consolidated financial statements in accordance with International Financial Reporting Standards (IFRS) and considers information material if it could reasonably influence the decisions of primary users[169] - The consolidated financial statements are prepared on a historical cost basis, except for certain financial instruments measured at fair value at initial recognition and subsequent reporting dates[170] - Fair value is determined based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date[171] - The company classifies fair value measurements into three levels based on the observability of inputs: Level 1 (quoted prices in active markets), Level 2 (observable inputs other than quoted prices), and Level 3 (unobservable inputs)[171] - The company consolidates entities over which it has control, defined as the power to govern financial and operating policies, exposure to variable returns, and the ability to affect returns through its power[172] - Business combinations are accounted for using the acquisition method, with consideration transferred measured at fair value, which includes the fair value of assets transferred, liabilities assumed, and equity interests issued[173] - The identifiable assets and liabilities acquired in business combinations after January 1, 2022, are recognized at their fair value, with exceptions for deferred tax assets or liabilities, employee benefit-related assets or liabilities, and liabilities related to share-based payment arrangements[174] - Goodwill is measured as the excess of the sum of the consideration transferred, any non-controlling interests, and the fair value of previously held equity interests over the net identifiable assets and liabilities acquired at the acquisition date[175] - Goodwill is allocated to cash-generating

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） 截至二零二二年十二月三十一日止年度的全年業績公告 概要╱財務摘要 截至十二月三十一日止年度 變動 二零二二年 二零二一年 百分比 人民幣千元 人民幣千元 (%) 收益 11,055,439 12,716,775 –13.1% 毛利 2,713,844 3,233,825 –16.1% 息稅折舊攤銷前盈利 2,918,455 3,643,156 –19.9% 溢利 539,288 1,281,522 –57.9% 其中：歸屬於本公司擁有人溢利 448,690 1,200,590 –62.6% 每股基本盈利（人民幣元） 0.15 0.41 –62.6% 於十二月三十一日 變動 ...