CRBLDG MAT TEC(01313)

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华润建材科技更新报告:华南复价验证区域格局,盈利与估值或修复
Guotai Junan Securities· 2024-06-26 23:01
建材 华润建材科技(1313) 评级: 增持 [当前价格 Table_CurPrice] :(港元) 1.44 2024.06.26 股 票 研 究 华南复价验证区域格局,盈利与估值或修复 ——华润建材科技更新报告 | [table_Authors] 鲍雁辛 ( 分析师 ) | 花健 祎 ( 分析师 ) | 巫恺洋 ( 研究助理 ) | |-----------------------------------------|------------------------|---------------------------| | 0755-23976830 | 0755-23976858 | 0755-23976666 | | baoyanxin@gtjas.com | huajianyi@gtjas.com | wukaiyang028675@gtjas.com | | S0880513070005 | S0880521010001 | S0880123070145 | 本报告导读: 广西水泥前期提价落实情况良好,两广市场盈利有望企稳回升,公司作为两广区域龙 头充分受益,有望迎来盈利及估值修复。 投资要点 ...
水泥销量逆势提升,骨料放量
兴证国际证券· 2024-05-07 06:02
海 外 研 证券研究报告 究 #industryId# 水泥 #investSuggestion# #01313 .HK #华dy润Com建pa材ny#科 技 港股通(沪/深) dyStockco # 买入 ( i维nve持stS ) d e# 水 泥销量逆势#提title#升 ,骨料放量 uggesti on gC e# ha n #createTime1# 2024年 5月 6日 投资要点 公 #市场ma数rk据et Data# #summary# 事件:公司披露Q1业绩:营收同比下降5.6%至47.9亿元(单位人民币,下同), 司 日期 20240506 归母净利润亏损2887万元。 跟 收盘价(港元) 1.37 踪 总股本(亿股) 70 点评:传统淡季&南方雨季频繁,水泥需求更弱,Q1行业基本处于亏损状态。 报 流通股本(亿股) 70 ——量:更注重份额保持,Q1公司出货量表现优于行业。全国水泥Q1产量同比 告 净资产(亿元) 487 -11.8%,公司水泥&熟料出货量同比+5.2%至1303万吨,广东出货量同比+9.1%, 总资产(亿元) 803 广西出货量同比基本持平。 每股净资产(元) 6.97 ...
华润建材科技(01313) - 2024 Q1 - 季度业绩
2024-04-26 14:04
Revenue Performance - Revenue for the three months ended March 31, 2024, was RMB 4,788.4 million, a decrease of 5.6% compared to RMB 5,070.2 million for the same period in 2023[2] - The consolidated revenue for the period reached RMB 4,788,400,000, a decrease of 5.6% compared to RMB 5,070,200,000 in the same period last year[15] Profitability - Gross profit for the period was RMB 661.5 million, up from RMB 607.5 million in the previous year[4] - The consolidated gross profit for the period was RMB 661,500,000, an increase of 8.9% from RMB 607,500,000 in the same period last year[18] - The consolidated gross profit margin improved to 13.8%, up 1.8 percentage points from 12.0% in the same period last year[18] - The company reported a pre-tax loss of RMB 14.5 million, significantly improved from a loss of RMB 45.1 million in the previous year[4] - Other income decreased to RMB 56.3 million from RMB 70.5 million year-on-year[4] Net Loss - The net loss attributable to the company's owners for the period was RMB 28.9 million, compared to a loss of RMB 30.0 million in the same period last year[2] - The company reported a loss attributable to owners of RMB 28,900,000 for the period, compared to a loss of RMB 30,000,000 in the same period last year[19] Assets and Liabilities - The total assets attributable to the company's owners were RMB 72,921.6 million, with a debt-to-equity ratio of 39.3%, compared to 36.9% in the previous year[2] Share Performance - Basic loss per share remained at RMB 0.004 for both periods[4] Inventory and Cash Flow - Inventory increased to RMB 2,318.6 million from RMB 1,896.0 million year-on-year[5] - Cash and bank balances decreased to RMB 1,711.7 million from RMB 2,603.7 million[5] Dividend - The company has not declared an interim dividend for the current period, consistent with the previous year[2] - The company did not recommend any dividend payment for the period ending March 31, 2023[14] Sales Volume and Revenue Breakdown - The sales volume of cement was 12,637 thousand tons, with an average selling price of RMB 245.8 per ton, resulting in revenue of RMB 3,106,631,000[16] - The sales volume of clinker was 396 thousand tons, with an average selling price of RMB 197.8 per ton, generating revenue of RMB 78,433,000[16] - The sales volume of concrete was 2,305 thousand cubic meters, with an average selling price of RMB 354.9 per cubic meter, leading to revenue of RMB 817,997,000[16] - The sales volume of aggregates was 14,158 thousand tons, with an average selling price of RMB 37.4 per ton, resulting in revenue of RMB 529,515,000[16] Regional Sales Performance - The sales performance by region showed Guangdong with 5,854 thousand tons sold, generating revenue of RMB 1,514,920,000[17]
华润建材科技(01313) - 2023 - 年度财报
2024-04-26 11:55
Company Overview - The total number of issued shares of China Resources Building Materials Technology Holdings Limited is 6,982,937,817, with China Resources Group holding approximately 68.72% of the issued shares[5]. - The company was re-listed on the main board of the Stock Exchange on October 6, 2009, after being privatized in 2006[5]. - The company changed its name from China Resources Cement Holdings Limited to China Resources Building Materials Technology Holdings Limited on November 3, 2023[5]. - The company is the holding entity for all cement and concrete operations of China Resources Group, which was established on March 13, 2003[4]. - The company has undergone significant changes in its corporate structure, including privatization and re-listing, impacting its operational strategy[4]. Financial Performance - The Group's turnover for 2023 was RMB 25,549.6 million, a decrease from RMB 36,929.2 million in 2022[55]. - The profit attributable to owners of the Company for 2023 was RMB 643.8 million, down from RMB 1,612.6 million in 2022[55]. - The Group's EBITDA for 2023 was RMB 4,082.0 million, compared to RMB 4,418.8 million in 2022[55]. - The consolidated turnover for the year ended 31 December 2023 amounted to RMB 25,549.6 million, representing a decrease of 12.9% compared to the previous year[58]. - The consolidated profit attributable to owners of the Company for the year ended 31 December 2023 was RMB 643.8 million, a decrease of 60.1% year-on-year[58]. - Basic earnings per share for the year was RMB 0.092[58]. - The total distribution for the year ended 31 December 2023 will be HK$0.047 per share, down from HK$0.129 per share in 2022[59]. - An interim dividend of HK$0.041 per share was declared for 2023, compared to HK$0.12 per share in 2022[58]. - The final dividend recommended for the year ended 31 December 2023 is HK$0.006 per share, down from HK$0.009 per share in 2022[58]. Production Capacity and Operations - The Group operates 101 cement grinding lines and 49 clinker production lines, with annual production capacities of 90.2 million tons of cement and 63.3 million tons of clinker respectively[33]. - The concrete batching plants have an annual production capacity of 38.4 million cubic meters[33]. - The Group's annual production capacity for concrete is supported by 63 concrete batching plants[33]. - The Group owns a total of 74 cement grinding lines, 30 clinker production lines, and 20 concrete batching plants, with total annual production capacities of 64.7 million tons of cement, 37.0 million tons of clinker, and 8.5 million m³ of concrete[35]. - The Group's facilities are strategically located to optimize production and distribution efficiency[33]. Market and Sales - The Group's products are primarily used in infrastructure projects such as railways, highways, subways, bridges, airports, ports, dams, hydroelectric power stations, and nuclear power stations[33]. - The main sales regions for the Group's products include Guangdong, Guangxi, Fujian, Hainan, Yunnan, Guizhou, Shanxi, and Hunan[33]. - The Group's aggregates business is being vigorously developed to increase market share and accelerate project construction[112]. - The Group's aggregates projects are positioned as a key profit contributor, enhancing construction, operation, and sales capabilities[115]. Environmental and Regulatory Compliance - The Group's emission concentrations of nitrogen oxides, particulate matters, and sulphur dioxide are better than the national standard limits of pollutant emissions[36]. - The Chinese government aims for 50% of cement clinker production capacity in key regions to complete ultra-low emissions transformation by the end of 2025, and 80% by the end of 2028[74]. - The Group's competitiveness in energy saving and carbon reduction is crucial for sustainable development, with ongoing efforts to promote alternative fuels and improve energy efficiency[109]. - The Group has implemented a "Four-Year Action Plan for Energy Saving and Carbon Reduction" to enhance operational management and control in basic building materials[112]. Research and Development - The Group continued to increase investment in research and development, promoting the upgrade of cement production lines and the application of grinding aids for raw materials[90]. - The Group's research and development team consists of 607 technology talents, including 5 professor-level senior engineers and 17 doctorate holders[159]. - The Group has initiated research on new materials, including silicon-based materials, basalt materials, and energy storage battery materials, to support enterprise transformation[161]. - The Group established the Engineered Stone Technology and Engineering Innovation Center in June 2023, enhancing its research and development capabilities[167]. Strategic Initiatives - The Group revised its "Fourteenth Five-Year Plan" development strategy, focusing on a business portfolio of "4+1" including cement, aggregates, concrete, engineered stone, and new materials[100]. - In 2024, the Group aims to enhance core competitiveness through increased R&D investment and promote green and intelligent upgrades in traditional industries[102]. - The Group's annual management theme for 2024 is "strengthening the foundations and grasping upgrades, technological innovation promotes transformation"[102]. Human Resources and Talent Development - As of December 31, 2023, the Group employed a total of 17,939 employees, a decrease from 19,046 employees as of December 31, 2022[165]. - The Group's average age of managerial staff is approximately 47 years, with 84% holding university degrees or above[166]. - The Group's focus on talent development is based on the "3+1" talent team cultivation plan, which includes special talent training programs[166]. Logistics and Supply Chain - The Group's annual shipping capacity along the Xijiang River was approximately 39.9 million tons, ensuring stable logistics capabilities for business operations[120]. - The Group controlled the operation of 30 silo terminals with a total annual capacity of approximately 30.9 million tons, primarily located in the Pearl River Delta Region of Guangdong[120]. - The Group implemented measures to reduce shipping costs through optimizing tender schemes and introducing multiple logistics providers[120]. Customer Satisfaction and Brand Development - The customer satisfaction rate reached 98.19% in 2023, reflecting a year-on-year increase of 0.57%[128]. - The Group established 19 brand flagship stores and 5 specialty stores to enhance the "Runpin" brand image and product system[128]. - The Group's "Runpin" brand received multiple industry awards, including the "Most Impetuous Enterprise Award" and the "Golden Orchid Award" in the ceramic tile adhesives sector[143].
2023年年报点评:积极销售政策体现,骨料有望贡献更明显
Guotai Junan Securities· 2024-03-28 16:00
股 票 研 究 [Table_industryInfo] 建材 [ Table_Main[华I Tnaf 润bol]e 建_Ti材tle]科 技(1313) [评Tab级le_:Inv est] 增持 当前价格(港元): 1.19 积极销售政策体现,骨料有望贡献更明显 2024.03.29 海 ——华润建材科技 2023年年报点评 [ 交Ta易bl数e_M据a rket] 外 鲍雁辛(分析师) 花健祎(分析师) 52周内股价区间(港元) 1.19-4.02 当前股本(百万股) 6,983 公 0755-23976830 0755-23976858 当前市值(百万港元) 8,310 司 baoyanxin@gtjas.com huajianyi@gtjas.com 证书编号 S0880513070005 S0880521010001 ( [ Table_PicQuote] 中 本报告导读: 52周内股价走势图 公司销售政策转向积极已经在销量中体现,前期较大体量骨料产能布局开始逐步释 国 华润建材科技 恒生指数 放,业绩贡献将逐步明显。 香 5% 摘要: 港 -10% [T able维_S持um“m增ar持y] ...
华润建材科技(01313) - 2023 - 年度业绩
2024-03-15 14:55
Financial Performance - Revenue for 2023 decreased by 12.9% to RMB 25,549.6 million compared to RMB 29,332.4 million in 2022[2] - Net profit attributable to the company's owners dropped by 60.1% to RMB 643.8 million from RMB 1,612.6 million in 2022[2] - Gross profit for 2023 was RMB 3,761.954 million, down from RMB 4,616.301 million in 2022[4] - Basic earnings per share for 2023 were RMB 0.092, a significant decrease from RMB 0.231 in 2022[5] - The company's pre-tax profit for 2023 was RMB 1,897,264 thousand, compared to RMB 1,942,553 thousand in 2022[14] - The company's basic earnings per share for 2023 were RMB 643,821 thousand, a significant decrease from RMB 1,612,583 thousand in 2022[19] - The company's comprehensive revenue for the year ended December 31, 2023, was RMB 25,549,600,000, a decrease of 12.9% compared to RMB 29,332,400,000 in the previous year (restated)[61] - The company's comprehensive gross profit in 2023 was RMB 3,762 million, a decrease of 18.5% compared to RMB 4,616.3 million in 2022[65] - The comprehensive gross profit margin in 2023 was 14.7%, a decrease of 1.0 percentage points compared to 15.7% in 2022[65] - The company's net profit margin in 2023 was 2.4%, a decrease of 2.9 percentage points compared to 5.3% in 2022[70] - The actual tax rate in 2023 was 32.3%, compared to 18.2% in 2022[69] - The company's joint ventures generated a profit of RMB 46.6 million in 2023, compared to a loss of RMB 60.8 million in 2022[69] Assets and Liabilities - Total assets increased by 1.3% to RMB 72,792.2 million as of December 31, 2023, compared to RMB 71,855.9 million in 2022[2] - Fixed assets increased to RMB 31,172.910 million in 2023 from RMB 28,109.417 million in 2022[6] - Cash and bank balances stood at RMB 2,603.664 million as of December 31, 2023, up from RMB 1,948.876 million in 2022[6] - Total current liabilities decreased to RMB 10,979.935 million in 2023 from RMB 13,673.142 million in 2022[6] - The company's equity attributable to owners increased slightly by 0.6% to RMB 44,108.5 million in 2023[2] - The gearing ratio rose to 36.9% in 2023 from 33.5% in 2022[2] - Non-current liabilities increased to RMB 16,065,133 thousand in 2023, up from RMB 12,922,681 thousand in 2022, primarily due to an increase in bank loans[7] - Total equity remained stable at RMB 45,747,169 thousand in 2023, compared to RMB 45,260,117 thousand in 2022[7] - Trade receivables decreased to RMB 1,719,622 thousand in 2023 from RMB 2,591,078 thousand in 2022[21] - Trade payables increased to RMB 2,978,619 thousand in 2023 from RMB 2,895,815 thousand in 2022[23] - Total accounts receivable as of December 31, 2023, amounted to RMB 2,978,619 thousand, compared to RMB 2,895,815 thousand in 2022[24] - Total bank and other borrowings as of December 31, 2023, were RMB 16,281,438 thousand, compared to RMB 14,679,372 thousand in 2022[73] - Fixed-rate and floating-rate bank and other borrowings as of December 31, 2023, were RMB 3,184,300,000 and RMB 13,097,100,000, respectively[73] - Unused bank loan facilities as of December 31, 2023, amounted to RMB 22,076,200,000[74] - Non-RMB denominated debt accounted for 13% of the company's total debt as of December 31, 2023[75] - The company's net current liabilities as of December 31, 2023, were RMB 3,289,700,000[75] Segment Performance - Revenue from the cement segment decreased to RMB 19,435,964 thousand in 2023 from RMB 23,729,742 thousand in 2022[13] - Revenue from the concrete segment decreased to RMB 3,425,643 thousand in 2023 from RMB 4,539,637 thousand in 2022[13] - Revenue from the aggregates and other segment increased to RMB 3,550,216 thousand in 2023 from RMB 1,825,588 thousand in 2022[13] - Total revenue for 2023 was RMB 25,549,648 thousand, down from RMB 29,332,435 thousand in 2022[13] - Segment performance for cement was RMB 814,698 thousand in 2023, compared to RMB 129,434 thousand for concrete and RMB 815,636 thousand for aggregates and other[13] - The company's cement, clinker, concrete, and aggregate external sales decreased by 5,400,000 tons, 400,000 tons, 1,500,000 cubic meters, and increased by 30,500,000 tons, respectively, compared to 2022, representing decreases of 7.5%, 12.2%, 13.6%, and an increase of 201.5%[61] - Cement sales volume in 2023 was 66,728 thousand tons, a decrease of 7.5% compared to 72,110 thousand tons in 2022[62] - The average selling price of cement in 2023 was RMB 273.9 per ton, a decrease of 11.2% compared to RMB 308.4 per ton in 2022[63] Operational Metrics - The company's cement, clinker, and concrete production line utilization rates for 2023 were 71.8%, 81.0%, and 25.9%, respectively, compared to 81.6%, 90.5%, and 29.3% in 2022[36] - The company's clinker production capacity remained at approximately 1.6 million tons per year, while cement production capacity increased to approximately 2.1 million tons per year after technical upgrades[35] - The company reduced standard coal consumption per ton of clinker by 4.34 kg through energy-saving and carbon-reduction initiatives[37] - The company's total concrete production capacity decreased by approximately 50,000 cubic meters in 2023 due to acquisitions, disposals, and capacity adjustments[35] - The company achieved a 33% clinker production capacity meeting the GB16780 first-level energy consumption standard, totaling 20.67 million tons[37] - The company added 36.3 million tons of limestone resources through the acquisition of mining rights in Hunan[35] - The company's coal procurement volume in 2023 was approximately 6.6 million tons, with 82%, 10%, and 8% sourced from northern China, surrounding production bases, and overseas, respectively[39] - The average coal purchase price in 2023 was RMB 929 per ton, a decrease of 12.7% compared to RMB 1,064 per ton in 2022[64] Strategic Initiatives and Future Plans - The company revised its "14th Five-Year Plan" development strategy, focusing on cement, aggregates, concrete, artificial stone, and new materials[79] - The company plans to accelerate the layout of strategic emerging industries and promote green development in 2024[79] - The company aims to increase R&D investment to drive green and intelligent upgrades in traditional businesses[79] - The company is committed to leading digital transformation and building a world-class building materials technology enterprise[79] - The company plans to increase the proportion of imported coal procurement and conduct annual price inquiries with Australian mining companies in 2024[40] - Capital expenditure for expansion plans as of December 31, 2023, was approximately RMB 5,508,000,000, with expected payments of RMB 4,822,800,000 in 2024[77] ESG and Corporate Governance - The company's ESG performance was rated at a five-star level, ranking 13th in the "China ESG Listed Companies Pioneer 100" list[32] - The company's Huarun Cement (Tianyang) Co., Ltd. was recognized as a "Lighthouse Factory" by the World Economic Forum, representing the highest level of intelligent manufacturing and digitalization in the global manufacturing industry[33] - The company has complied with the applicable code provisions of the Corporate Governance Code, except for Code Provision C.2.1, which was rectified on April 18, 2023, with the appointment of Mr. Jing Shiqing as the new President and Executive Director[80] - The company did not repurchase, sell, or redeem any of its listed securities during the year[81] - The Board proposed a final dividend of HKD 0.006 per share for the year ended December 31, 2023, compared to HKD 0.009 per share in 2022, with a total distribution of HKD 0.047 per share for 2023 (2022: HKD 0.129 per share)[82] - The final dividend will be paid in HKD by default, with an option for shareholders to receive it in RMB based on the exchange rate published by the People's Bank of China on May 24, 2024[82] - The company will suspend share transfer registration from May 21 to May 24, 2024, and from June 3 to June 7, 2024, for the final dividend distribution[83] - The annual report for the year ended December 31, 2023, has been reviewed by the company's audit committee[84] - The company expressed gratitude to its directors, management team, employees, shareholders, customers, suppliers, and other stakeholders for their contributions and support[85] - As of the announcement date, the executive directors include Mr. Ji Youhong and Mr. Jing Shiqing, with non-executive and independent non-executive directors also listed[86] Market and Industry Trends - China's GDP grew by 5.2% in 2023, reaching RMB 126.1 trillion[25] - National fixed asset investment (excluding rural households) increased by 3.0% to RMB 50.3 trillion in 2023[25] - Guangdong's GDP reached RMB 13.6 trillion in 2023, with a growth rate of 4.8%[25] - National infrastructure investment (excluding power, heat, gas, and water production) rose by 5.9% in 2023[25] - Railway fixed asset investment increased by 7.5% to RMB 764.5 billion in 2023[25] - National real estate development investment decreased by 9.6% to RMB 11.1 trillion in 2023[26] - National cement production decreased by 0.7% to approximately 2.02 billion tons in 2023[27] - Guangdong's cement production was approximately 143 million tons in 2023, a decrease of 5.8%[27] - National clinker production capacity increased by 24.9 million tons with 17 new clinker production lines added[28] - Guangdong added 1 clinker production line, increasing clinker production capacity by 1.6 million tons[28] - Guangxi added 2 clinker production lines, increasing clinker production capacity by 3.3 million tons[28] - Guizhou added 2 clinker production lines, increasing clinker production capacity by 2.5 million tons[28] - Hunan added 2 clinker production lines, increasing clinker production capacity by 2.8 million tons[28] - By the end of 2025, 50% of clinker production capacity in key regions is targeted to complete ultra-low emission transformation[28] - By the end of 2028, 80% of clinker production capacity nationwide is targeted to complete ultra-low emission transformation[28] Innovation and Technology - The company successfully acquired mining rights for limestone resources in Guangxi and Guangdong, expanding clinker and aggregate resources[31] - The company's new dry-process clinker production line in Hunan was successfully ignited after technical, energy consumption, and environmental upgrades[31] - The company's precast concrete component projects are expected to reach an annual design capacity of 1.4 million cubic meters upon completion[31] - The company's artificial stone Oracle EBS system has been successfully piloted and is operating stably at Dongguan and Laibin factories[52] - The company has implemented 3 AI algorithms in its advanced control and quality management systems across multiple bases[52] - The company has completed information system coverage for 19 new bases in aggregates and new materials, achieving business digitization and management standardization[52] - The company's smart logistics system has been promoted and implemented in 10 aggregate bases and 1 cement base, achieving unmanned weighing and semi-automated loading, improving shipping efficiency[54] - The company's digital transformation project for marketing has been fully launched in major regions, covering 100% of cement, aggregate, concrete, and tile adhesive businesses, with artificial stone business also being promoted online[55] - The company holds 323 valid patents, including 60 invention patents and 263 utility model patents, with 32 new patents authorized in 2023, an increase of 11.0% compared to the previous year[57] - The company has 607 scientific and technological talents, including 2 group-level leading talents, 6 company-level leading talents, 6 company-level backbone talents, and 26 company-level young talents[56] Sales and Distribution - The company's e-commerce platform had a cumulative shipment volume of approximately 180 million tons, with 35,000 registered users, 517 carriers, and 87,000 vehicles (ships) as of December 31, 2023[55] - The company's e-commerce platform had a cumulative delivery business volume of 294,000 tons and a credit line of approximately RMB 1.36 billion as of December 31, 2023[55] - The company's sales and distribution expenses in 2023 were RMB 506.2 million, an increase of 11.2% compared to RMB 455.3 million in 2022[66] - The company's general and administrative expenses in 2023 were RMB 2,322.1 million, a decrease of 4.9% compared to RMB 2,440.7 million in 2022[67] - The company's "Runfeng" brand terminal coverage rate reached 92.2%, with 3 new brand image stores added, and customer satisfaction increased by 0.57% to 98.19%[44] - The company's new strategic customers in 2023 contributed over RMB 24 million in contract value, with 15 new projects signed totaling over RMB 40 million[49] Production and Capacity - The company's aggregate business has a planned annual production capacity of approximately 14.75 million tons through subsidiaries and 1.36 million tons through joint ventures and associates[46] - The company has 6 concrete prefabricated component projects with a total planned annual production capacity of approximately 1.4 million cubic meters[47] - The company's Guangdong Fengkai autoclaved aerated concrete block and panel production line project has a planned annual production capacity of 400,000 cubic meters for panels and 200,000 cubic meters for blocks[47] - The company's inorganic artificial stone production capacity will reach 26.1 million square meters annually after all ongoing projects are completed[48] - The company's new intelligent inorganic artificial stone production line in Laibin, Guangxi, has a planned annual capacity of 6 million square meters, with the first phase (3 million square meters) operational since December 2023[48] - The company's Hubei Chongyang calcium oxide project has a resource reserve of approximately 84 million tons, with a planned annual production capacity of 250,000 tons, expected to be operational by 2024[50] - The company's Guangxi Guigang high-end calcium-based project has a resource reserve of approximately 110 million tons, with planned annual production capacities of 500,000 tons of calcium oxide and 100,000 tons of calcium hydroxide, expected to be operational by 2024[50] - The company's Guangxi Tianyang cement production base achieved a 24% reduction in CO2 emissions, a 105% increase in per capita cement production, and a 56% reduction in unplanned equipment downtime[52] - The company's Guangxi Tianyang cement production base improved quality stability by 25% and reduced average customer delivery time by 39%[52] Logistics and Supply Chain - The company's annual transportation capacity in the Xijiang River Basin is approximately 39.9 million tons, with 30 transit warehouses mainly located in the Guangdong Pearl River Delta region, with an annual transit capacity of about 30.9 million tons[41] - The company's nuclear cement is supplied to 5 nuclear power projects in Zhejiang, Fujian, Guangdong, and Hainan, with new supply to the Hainan Changjiang Nuclear Power Phase II project[42] - The company's "Runfeng" brand low-heat cement has been successfully applied in hydropower stations and railway construction projects in Yunnan, including the Sichuan-Tibet Railway project[43] Human Resources - The company's total employee costs for 2023 were RMB 3,056,899 thousand, slightly lower than RMB 3,071,704 thousand in 2022[17] - The company employed 17,939 full-time employees as of December 31, 2023, with 343 working in Hong Kong and 17,596 in mainland China[58] - The company's management team consists of 481 members, with 86% male and 14% female, and 84% holding a university degree or above[59] Other Financial Metrics - Interest income for 2023 was RMB 77,759 thousand, while financial expenses were RMB 535,814 thousand[13] - Interest income for 2023 was RMB 77,759 thousand, a decrease from RMB 100,419 thousand in
华润建材科技(01313) - 2023 Q3 - 季度业绩
2023-10-27 09:05
Financial Performance - For the nine months ended September 30, 2023, the company's revenue was HKD 17,892.7 million, a decrease of 26.1% compared to HKD 24,196.1 million for the same period in 2022[2] - The profit attributable to the company's owners for the same period was HKD 710.2 million, down 61.3% from HKD 1,837.5 million in 2022[2] - Basic earnings per share for the nine months ended September 30, 2023, were HKD 0.102, compared to HKD 0.263 for the same period in 2022[4] - The gross profit for the nine months was HKD 2,408.2 million, down from HKD 3,820.3 million in 2022[4] - The total revenue for the period was HKD 17,892,700,000, representing a decrease of 26.1% from HKD 24,196,100,000 in the previous year[13] - The gross profit for the period was HKD 2,408,200,000, down 37.0% from HKD 3,820,300,000 year-on-year, with a gross margin of 13.5%, down from 15.8%[16] Assets and Equity - The total assets as of September 30, 2023, were HKD 80,672.5 million, a slight increase of 0.1% from HKD 80,613.8 million at the end of 2022[2] - The company's equity attributable to owners was HKD 48,198.3 million, down 2.1% from HKD 49,233.4 million[2] - The total equity attributable to owners decreased to HKD 48,198.3 million from HKD 49,233.4 million[7] Debt and Liabilities - The debt-to-equity ratio increased to 39.8% from 33.4% in the previous year[2] - Non-current liabilities increased to HKD 18,436.7 million from HKD 14,466.7 million in the previous year[6] Sales and Revenue Breakdown - Cement sales volume was 45,555,000 tons with an average selling price of HKD 324.2 per ton, resulting in revenue of HKD 14,767,883,000, compared to 52,534,000 tons and HKD 363.1 per ton in the previous year[14][15] - The average selling price of clinker was HKD 276.7 per ton, with a total revenue of HKD 493,134,000 from a sales volume of 1,782,000 tons[14] - The average selling price of concrete was HKD 423.0 per cubic meter, generating revenue of HKD 2,631,664,000 from a sales volume of 6,222,000 cubic meters[14] Dividends - The interim dividend declared was HKD 0.041 per share for the six months ended June 30, 2023, down from HKD 0.12 per share for the same period in 2022[12] - The company did not recommend any dividend for the three months ended September 30, 2023, consistent with the same period in 2022[12] Currency Impact - The company experienced a depreciation of approximately 5.9% in the RMB against the HKD compared to the same period last year[13] Gross Margins - The cement gross margin was 14.1%, down from 16.2% in the previous year, while the gross margins for clinker and concrete were 5.3% and 11.2%, respectively[16]
华润建材科技(01313) - 2023 - 中期财报
2023-09-07 08:35
Company Overview - The total number of issued shares of China Resources Cement Holdings Limited is 6,982,937,817, with China Resources Group holding approximately 68.72% of the issued shares[4]. - The company was re-listed on the main board of the Stock Exchange on October 6, 2009, after being privatized in 2006[3]. - The registered office is located in the Cayman Islands, while the principal place of business is in Hong Kong[10]. - The company operates as the holding entity for all cement and concrete operations of China Resources Group, emphasizing its strategic importance in the construction materials sector[3]. - The company has a dedicated investor relations consultant to manage communications with stakeholders[10]. Financial Performance - For the six months ended June 30, 2023, the Group reported a turnover of HK$12,172.6 million, a decrease of 24.5% compared to the same period last year[26][30]. - The profit attributable to owners of the Company for the same period was HK$620.9 million, down 65.6% year-on-year, with basic earnings per share of HK$0.089[26][30]. - The consolidated turnover for the first half of 2023 amounted to HK$12,172.6 million, representing a decrease of 24.5% from HK$16,116.5 million in the same period last year[123]. - Gross profit for the period was HK$1,902,495, down 42.4% from HK$3,302,684 in the previous year[182]. - Basic earnings per share decreased to HK$0.089, down 65.5% from HK$0.258 in the same period last year[182]. Production Capacity and Operations - As of June 30, 2023, the Group operates 101 cement grinding lines with an annual production capacity of 90.1 million tons and 49 clinker production lines with a capacity of 63.6 million tons[16]. - The Group has 63 concrete batching plants with an annual production capacity of 38.5 million cubic meters[16]. - The Group's total annual production capacities include 64.7 million tons of cement, 37.0 million tons of clinker, and 8.5 million m³ of concrete, with attributable capacities of 22.3 million tons of cement, 12.1 million tons of clinker, and 3.9 million m³ of concrete[19][20]. - The Group's facilities are supported by a well-established logistics network including waterways, railways, and roads[15]. - The Group's business includes limestone excavation, cement, clinker, and concrete production, sales, and distribution[15]. Market and Economic Context - In the first half of 2023, China's GDP grew by 5.5% year-on-year to RMB59.3 trillion, with national fixed asset investment increasing by 3.8% to RMB24.3 trillion[39]. - Infrastructure investment in China rose by 7.2% year-on-year in the first half of 2023, with road and waterway investments growing by 9.8%[41]. - The real estate market showed signs of stabilization, with total sales area decreasing by 5.3% to 600 million square meters, while sales revenue increased by 1.1% to RMB6.3 trillion[41]. Corporate Governance - The report outlines the company's corporate governance structure, including various committees such as the Audit Committee and Risk and Compliance Committee[9]. - The interim report for the six months ended June 30, 2023, was reviewed by the Audit Committee[180]. Environmental and Social Responsibility - The Group's emission concentrations of nitrogen oxides, particulate matters, and sulphur dioxide are better than national pollutant emission standards, reflecting its commitment to corporate social responsibility[20][21]. - The Group is committed to promoting green and low-carbon transformation in line with national policies to achieve carbon peaking and neutrality goals[53]. - The Chinese government emphasized the importance of production safety and occupational health to ensure sustainable development in the building materials industry[53]. Strategic Initiatives - The company is focused on expanding its market presence and enhancing operational efficiencies through strategic initiatives[6]. - The Group is actively enhancing research and development of new products, materials, and technologies to seize new business opportunities and promote sustainable development[20][21]. - The Group's strategic focus includes digital transformation, innovation in research and development, and enhancing operational efficiency and quality[75]. Dividends and Shareholder Information - The Group plans to distribute an interim dividend of HK$0.041 per share, totaling approximately HK$286.3 million, compared to HK$838 million in the previous year[30]. - No shares were repurchased, sold, or redeemed by the company or its subsidiaries during the reporting period[180]. Financial Management and Liabilities - The Group had net current liabilities of HK$1,836.8 million as of June 30, 2023, but is confident in meeting its financial obligations due to sufficient cash reserves and available banking facilities[153]. - Bank loans amounted to HK$19,183.2 million as of June 30, 2023, compared to HK$15,836.6 million at the end of 2022[144]. - The Group adopts robust treasury policies, with centralized management of financing and investment activities to ensure liquidity needs are met[150]. Research and Development - The Group's research and development team consists of 329 technology talents, including 66 dedicated R&D personnel and 68 specialists in intelligentization and digitalization[115]. - The Group actively engaged in research on new materials such as silicon-based materials and perovskite solar cells to support technological transformation[117]. Awards and Recognition - The Group's efforts in technological innovation were recognized with awards in April, including first, second, and third prizes in the State-owned Enterprise Digital Scenario Innovation Competition[67]. - The Group's "Runpin" inorganic engineered stone has received industry recognition and awards, including the "Building Materials Science and Technology Progress Award" from the China Building Materials Federation[102].
华润建材科技(01313) - 2023 - 中期业绩
2023-08-18 14:22
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份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:1313) 二零二三年中期業績公告 | --- | --- | --- | --- | --- | |-----------------------------------------------------------------|------------------------------------------------------------------------------------|----------------------------------------------------|--------------------------------------------|-----------------| | | | 截至六月三十日止六個月 \n二零二三年 (未經審核) | 二零二二年 (未經審核) | (減少) | | 營業額 (百萬港元) | | 12,172.6 ...
华润建材科技(01313) - 2023 Q1 - 季度业绩
2023-04-28 14:01
Revenue and Profitability - Revenue for the three months ended March 31, 2023, was HKD 5,293.6 million, a decrease of 24.1% compared to HKD 6,976.7 million in the same period of 2022[4] - The loss attributable to the company's owners for the period was HKD (37.1) million, resulting in a basic loss per share of HKD (0.005), compared to a profit of HKD 729.5 million and a basic earnings per share of HKD 0.104 in the prior year[4] - Gross profit for the period was HKD 582.2 million, down from HKD 1,657.9 million in the same period last year[4] - The consolidated gross profit was HKD 582,200,000, down 64.9% from HKD 1,657,900,000 in the same period of 2022, with a gross profit margin of 11.0%, a decrease of 12.8 percentage points[18] - The decline in gross profit and gross profit margin was mainly due to lower sales prices compared to the same period last year[18] Assets and Equity - Total assets increased by 7.8% to HKD 86,869.2 million as of March 31, 2023, compared to HKD 80,613.8 million as of December 31, 2022[4] - The company's equity attributable to owners was HKD 50,195.0 million, with a debt-to-equity ratio of 45.2%, up from 33.4% in the previous period[4] - The net asset value per share increased to HKD 7.19 from HKD 7.05[4] Other Income and Expenses - Other income decreased to HKD 191.2 million from HKD 394.7 million year-on-year[4] - Other income for the period was HKD 191,200,000, a decline of 51.6% from HKD 394,700,000 in the same period of 2022, primarily due to a one-time gain from the disposal of a subsidiary in the previous year[19] - Sales and distribution expenses were HKD 111,200,000, a decrease of 67.3% from HKD 340,300,000 in the same period of 2022, mainly due to the reclassification of transportation costs[20] Foreign Exchange and Dividends - The company reported a foreign exchange loss of HKD 516.6 million, compared to a loss of HKD 719.1 million in the previous year[4] - The company has not declared an interim dividend for the current period, compared to no dividend declared in the same period last year[4] - The company did not recommend any interim dividend for the period[14] Sales Performance - Cement sales volume was 12,192 thousand tons with an average selling price of HKD 370.9 per ton, generating revenue of HKD 4,522,436,000[17] - The average selling prices for cement, clinker, and concrete were HKD 370.9, HKD 326.5, and HKD 459.8 per ton respectively, compared to HKD 436.4, HKD 414.8, and HKD 564.3 in the same period of 2022[16] Currency Impact - The company experienced a depreciation of approximately 6.8% in the RMB against the HKD compared to the same period in 2022[14] Audit and Review - The financial data for the period has been reviewed by the company's audit committee[12]