華新水泥股份有限公司 HUAXIN CEMENT CO., LTD.* 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。 （於中華人民共和國註冊成立的股份有限公司） （股份代號：6655） 海外監管公告 本公告乃根據《香港聯合交易所有限公司證券上市規則》第 13.10B 條規定而作出。茲 載列華新水泥股份有限公司（「本公司」）於中華人民共和國若干報章及上海證券交易 所網站(http://www.sse.com.cn)刊登的 《關於回購股份事項前十大股東和前十大無限 售條件股東持股情況的公告》，僅供參閱。 承董事會命 華新水泥股份有限公司 徐永模 主 席 中國湖北省武漢市 2025 年 10 月 9 日 於本公告日期，本公司董事會成員包括執行董事李葉青先生（總裁）及劉鳳山先生 （副總裁）；非執行董事徐永模先生（主席）、Martin Kriegner 先生、Olivier Milhaud 先生及陳婷慧女士；獨立非執行董事黃灌球先生、張繼平先生及江泓先生。 ...

Group 1 - The company plans to grant 2.578 million restricted stocks to 11 incentive targets, representing 0.124% of the total share capital, with a grant price of 9.24 CNY per share [1][2] - The company intends to repurchase shares worth between 32.25 million CNY and 64.50 million CNY, at a price not exceeding 25 CNY per share, aiming to buy back between 129,000 and 258,000 shares [1][2] - The company has decided to terminate the plan for the spin-off listing of its overseas subsidiary due to the extended timeline required, which would have resulted in the subsidiary's net profit exceeding 50% of the net profit attributable to the parent company [1][3] - The company will change its name from "Hua Xin Cement Co., Ltd." to "Hua Xin Building Materials Group Co., Ltd." to better reflect its business scope beyond cement [1][3] Group 2 - The company forecasts net profits of 2.8 billion CNY, 3.5 billion CNY, and 3.7 billion CNY for 2025-2027, with year-on-year growth rates of 16%, 25%, and 7% respectively, corresponding to PE ratios of 13, 10, and 10 times [4]

Investment Rating - The report maintains a "Buy" rating for the company, anticipating a price increase of over 15% in the next 6-12 months [5]. Core Insights - The company plans to grant 2.578 million restricted stocks to 11 incentive targets, representing 0.124% of the total share capital, with a grant price of 9.24 yuan per share. The plan includes two vesting periods of 36 and 48 months, with 50% of the stocks vesting in each period. Performance metrics include relative total shareholder return and compound annual growth rate of earnings per share (EPS) [3][4]. - The company intends to repurchase shares worth between 32.25 million yuan and 64.5 million yuan, at a price not exceeding 25 yuan per share, to support the restricted stock incentive plan [3][4]. - The company has decided to terminate plans for a spin-off listing of its overseas subsidiary due to time constraints and to mitigate dilution effects on the parent company, indicating healthy development of its overseas business [4]. - The company will change its name from "华新水泥股份有限公司" to "华新建材集团股份有限公司" to better reflect its business scope beyond cement, marking a strategic shift towards broader building materials [4]. Financial Projections - The company expects net profit attributable to shareholders to be 2.8 billion yuan, 3.5 billion yuan, and 3.7 billion yuan for the years 2025, 2026, and 2027, respectively, with year-on-year growth rates of 16%, 25%, and 7% [5]. - Revenue projections for 2025, 2026, and 2027 are 36.647 billion yuan, 38.620 billion yuan, and 41.221 billion yuan, with growth rates of 7.1%, 5.4%, and 6.7% respectively [10].

经与相关各方充分沟通及审慎论证，由于本次分拆上市所需时间超出预期，结合公司目前海外业务稳定 增长的情况并考虑未来市场变化，存在本次分拆上市完成前，公司届时最近一个会计年度合并报表中按 权益享有的拟分拆子公司的净利润超过归属于上市公司股东的净利润的50%，进而不再满足《上市公司 分拆规则(试行)》相关规定的可能性。综合考虑上述情况后，公司决定终止筹划本次分拆上市。 格隆汇10月8日丨华新水泥(600801.SH)公布，公司原筹划将下属全部实际开展生产经营的境外资产整合 至拟由华新水泥或其附属公司设立的境外子公司(以下简称"拟分拆子公司")旗下，并拟申请将拟分拆子 公司分拆至境外证券交易所上市(以下简称"本次分拆上市")。 ...

Summary of Huaxin Cement Conference Call Industry Overview - The cement industry is currently under pressure with overall profitability declining, but there is a strong willingness among companies to raise prices. The traditional peak season of "Golden September and Silver October" may lead to a short-term rebound in cement prices, although actual demand recovery needs to be monitored [2][3] Company Highlights - Huaxin Cement has a significant advantage in overseas operations, with an overseas capacity reaching 35 million tons by the end of 2025, ranking first among domestic companies venturing abroad. The medium to long-term target is 50 million tons, primarily distributed in Africa, where the market structure is relatively stable and competitive pressure is low. The profitability per ton of overseas cement is significantly higher than that of domestic operations [2][4] - The company recently completed the consolidation of its Indonesian capacity, exceeding 30 million tons in overseas capacity. It has launched a broad-based equity incentive plan and a core employee stock ownership plan, focusing on shareholder returns and earnings per share growth, which is expected to enhance management efficiency [2][6] - Huaxin Cement's domestic aggregate business is performing exceptionally well, ranking first in both capacity and profitability nationwide, serving as a major source of profit. Despite a decline in aggregate prices, the company maintains a competitive edge due to prior mining reserves and cost control [2][7] Financial Projections - Future profitability for Huaxin Cement is expected to improve, driven by stable growth in overseas demand, optimized internal incentive mechanisms, and international market expansion. However, attention should be paid to the impact of exchange rate fluctuations on overseas profits, which can affect net profit by approximately 30 yuan per ton [2][8][9] Market Conditions - The current market environment for the cement industry shows that leading companies are operating below safety lines, with many small to medium enterprises in East China facing losses. The industry is strongly advocating for price increases, especially with the arrival of the peak season [3][11] - The domestic cement market lacks significant demand growth, with companies focusing more on supply-side reforms. The capacity replacement progress in the first half of 2025 was below expectations, and the second half will require close attention to capacity replacement and overproduction policies [4][11] Stock Performance and Future Outlook - Huaxin Cement's stock price is highly sensitive to macroeconomic conditions and supply dynamics. The stock price is expected to respond positively to anticipated price increases in the fourth quarter. Following the consolidation of Huaxin's operations, the annual profit forecast has been slightly adjusted upwards, with expected net profits of 2.8 billion, 3.5 billion, and 3.7 billion yuan for 2025-2027, corresponding to growth rates of 17%, 24%, and 7% respectively [12][13] Key Considerations for the Second Half - In the second half of the year, attention should be paid to potential new policies and industry price increase expectations. The strong performance of overseas business and plans for the spin-off of overseas subsidiaries for listing, along with the new equity incentive plan, make the development in the second half of the year promising [13]

消息面上，华新水泥发布公告称，董事会建议将公司的中文名称由"华新水泥股份有限公司"变更为"华 新建材集团股份有限公司"，英文名称由"HUAXIN CEMENT CO., LTD."变更为"HUAXIN BUILDING MATERIALS GROUP CO., LTD."。建议更改公司名称须待于临时股东会上以普通决议案的方式批准;及 香港公司注册处批准并向公司发出更改名称注册证书后，方告作实。 智通财经APP获悉，华新水泥(06655)一度涨超5%，截至发稿，涨4.96%，报15.23港元，成交额699.95万 港元。 此外，公司宣布，原筹划将下属全部实际开展生产经营的境外资产整合至拟由华新水泥或其附属公司设 立的境外子公司旗下，并拟申请将拟分拆子公司分拆至境外证券交易所上市。经与相关各方充分沟通及 审慎论证，由于本次分拆上市所需时间超出预期，结合公司目前海外业务稳定增长的情况并考虑未来市 场变化，存在本次分拆上市完成前，公司届时最近一个会计年度合并报表中按权益享有的拟分拆子公司 的净利润超过归属于上市公司股东的净利润的50%，进而不再满足《上市公司分拆规则(试行)》相关规 定的可能性。综合考虑上述情况后，公 ...

消息面上，华新水泥发布公告称，董事会建议将公司的中文名称由"华新水泥股份有限公司"变更为"华 新建材集团股份有限公司"，英文名称由"HUAXIN CEMENT CO.,LTD."变更为"HUAXIN BUILDING MATERIALS GROUP CO.,LTD."。建议更改公司名称须待于临时股东会上以普通决议案的方式批准;及 香港公司注册处批准并向公司发出更改名称注册证书后，方告作实。 华新水泥（600801）(06655)一度涨超5%，截至发稿，涨4.96%，报15.23港元，成交额699.95万港元。 此外，公司宣布，原筹划将下属全部实际开展生产经营的境外资产整合至拟由华新水泥或其附属公司设 立的境外子公司旗下，并拟申请将拟分拆子公司分拆至境外证券交易所上市。经与相关各方充分沟通及 审慎论证，由于本次分拆上市所需时间超出预期，结合公司目前海外业务稳定增长的情况并考虑未来市 场变化，存在本次分拆上市完成前，公司届时最近一个会计年度合并报表中按权益享有的拟分拆子公司 的净利润超过归属于上市公司股东的净利润的50%，进而不再满足《上市公司分拆规则(试行)》相关规 定的可能性。综合考虑上述情况后，公司决定终止 ...

Core Viewpoint - Huanxin Cement announced a share buyback plan with a total amount between 32.25 million and 64.50 million yuan, with a maximum buyback price of 25.00 yuan per share, which is 35.14% higher than the current price of 18.50 yuan, reflecting a strategy to stabilize stock prices [1][2]. Group 1: Company Overview - Huanxin Cement, established on November 30, 1993, and listed on January 3, 1994, is located in Wuhan, Hubei Province, and primarily engages in cement manufacturing and sales, cement technology services, and related construction materials [2]. - The company's revenue composition includes 54.56% from cement sales, 21.54% from concrete sales, 17.22% from aggregate sales, 4.21% from other products, and 2.47% from clinker sales [2]. Group 2: Financial Performance - For the first half of 2025, Huanxin Cement reported operating revenue of 16.047 billion yuan, a year-on-year decrease of 1.17%, while net profit attributable to shareholders increased by 51.05% to 1.103 billion yuan [2]. - Cumulatively, the company has distributed 13.594 billion yuan in dividends since its A-share listing, with 3.127 billion yuan distributed over the past three years [3]. Group 3: Shareholder Information - As of June 30, 2025, the number of shareholders increased by 6.56% to 45,700, with an average of 0 circulating shares per person [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 56.9032 million shares, a decrease of 6.6314 million shares from the previous period, while Southern CSI 500 ETF entered the list as the tenth largest shareholder with 9.995 million shares [3].

终止筹划本次分拆上市不会对公司生产经营活动和财务状况产生重大不利影响，亦不会对公司未来整体 战略规划的实施造成不利影响。 经与相关各方充分沟通及审慎论证，由于本次分拆上市所需时间超出预期，结合公司目前海外业务稳定 增长的情况并考虑未来市场变化，存在本次分拆上市完成前，公司届时最近一个会计年度合并报表中按 权益享有的拟分拆子公司的净利润超过归属于上市公司股东的净利润的50%，进而不再满足《上市公司 分拆规则(试行)》相关规定的可能性。综合考虑上述情况后，公司决定终止筹划本次分拆上市。 华新水泥（600801）(06655)发布公告，公司原筹划将下属全部实际开展生产经营的境外资产整合至拟 由华新水泥或其附属公司设立的境外子公司旗下，并拟申请将拟分拆子公司分拆至境外证券交易所上 市。 ...

经与相关各方充分沟通及审慎论证，由于本次分拆上市所需时间超出预期，结合公司目前海外业务稳定 增长的情况并考虑未来市场变化，存在本次分拆上市完成前，公司届时最近一个会计年度合并报表中按 权益享有的拟分拆子公司的净利润超过归属于上市公司股东的净利润的50%，进而不再满足《上市公司 分拆规则(试行)》相关规定的可能性。综合考虑上述情况后，公司决定终止筹划本次分拆上市。 终止筹划本次分拆上市不会对公司生产经营活动和财务状况产生重大不利影响，亦不会对公司未来整体 战略规划的实施造成不利影响。 智通财经APP讯，华新水泥(06655)发布公告，公司原筹划将下属全部实际开展生产经营的境外资产整合 至拟由华新水泥或其附属公司设立的境外子公司旗下，并拟申请将拟分拆子公司分拆至境外证券交易所 上市。 ...