Financial Performance - For the fiscal year ending December 31, 2024, the company's operating revenue was approximately RMB 34.22 billion, an increase of 1.36% compared to RMB 33.76 billion in 2023[4]. - The net profit attributable to shareholders for 2024 was approximately RMB 2.42 billion, a decrease of 12.52% from RMB 2.76 billion in 2023[4]. - Basic earnings per share for 2024 were RMB 1.16, down 12.78% from RMB 1.33 in 2023[4]. - The company's net cash flow from operating activities for 2024 was RMB 5.98 billion, a decrease of 4.14% compared to RMB 6.24 billion in 2023[8]. - The weighted average return on equity for 2024 was 8.16%, down from 9.82% in 2023, representing a decrease of 1.66 percentage points[8]. - The company achieved a total operating revenue of RMB 34.22 billion, an increase of RMB 460 million year-on-year, with a decrease in cement and clinker sales by 1.64 million tons (2.6%) and an increase in concrete sales by 4.54 million cubic meters (17%)[30]. - The company reported a gross profit margin of 24.69%, a decrease of 2.02 percentage points compared to the previous year[30]. - Net profit attributable to shareholders decreased by 12.52% year-on-year, amounting to RMB 2.42 billion[37]. - The company achieved a net profit of CNY 1,928,498,891 for the fiscal year 2024, with a consolidated net profit attributable to shareholders of CNY 2,416,280,487[70]. - The company reported a decrease in clinker sales to RMB 760,340,715 in 2024, down 19.7% from RMB 947,002,919 in 2023[115]. Shareholder Information - The number of registered shareholders decreased from 52,723 as of December 31, 2024, to 51,386 as of February 28, 2025[9]. - Holcim Limited remains the controlling shareholder and actual controller of the company as of December 31, 2024[13]. - The company plans to distribute a cash dividend of CNY 0.46 per share based on a total share capital of 2,078,995,649 shares[70]. Operational Highlights - Overseas production capacity exceeded 22.5 million tons per year, reflecting an 8% year-on-year growth[23]. - The aggregate sales volume of aggregates reached 143.23 million tons, up 9% year-on-year[26]. - The company signed contracts for cement projects in Nigeria and aggregate projects in Brazil, accelerating international expansion[26]. - The company launched the first ultra-high-performance concrete product with a compressive strength exceeding 600 MPa in China[27]. - The company utilized 4.41 million tons of alternative fuels, an increase of 50,000 tons year-on-year[27]. - The company’s organizational structure was optimized into three segments: business operations, business management, and business support[27]. Cost and Expense Management - Operating costs increased by RMB 1.03 billion year-on-year, primarily due to the rise in concrete and aggregate sales, which contributed to a cost increase of RMB 971 million[31]. - The company maintained a cash-centric business model, achieving a 31.44% increase in accounts receivable to RMB 2.97 billion due to the expansion of concrete business[38]. - The company reported a decrease in sales expenses by 1.26% to RMB 1.50 billion, while management expenses increased by 3.34% to RMB 1.88 billion[35]. - The company implemented a comprehensive procurement strategy, achieving a six-month consecutive decline in raw material costs per ton of cement[29]. Cash Flow and Investments - The net cash flow from operating activities for the current period is RMB 5,977,317,233, a decrease of 4.14% compared to the same period last year[40]. - The net cash outflow from investing activities decreased by 43.10% to RMB -3,672,026,564, primarily due to reduced acquisition expenditures[40]. - The net cash outflow from financing activities increased by 54.69% to RMB -1,472,260,983, mainly due to the repayment of maturing corporate bonds[41]. Debt and Liabilities - Interest-bearing liabilities increased by 6.87% to RMB 18,122,243,730, attributed to the increase in long-term borrowings related to projects[43]. - The debt-to-asset ratio improved, decreasing by 1.74 percentage points to 49.80%[43]. - Total liabilities decreased to CNY 34,614,884,740 from CNY 35,432,552,822 year-over-year[74]. Future Outlook - The outlook for 2025 indicates a narrowing decline in domestic construction material demand, supported by government policies aimed at stabilizing the real estate market[50]. - The global economic growth is projected to stabilize at 3.2% in 2025, with certain regions expected to achieve over 5% growth[52]. - For 2025, the company projects total revenue to reach 37.1 billion yuan, with planned sales of approximately 5.7 million tons of cement and clinker[56]. - The company plans capital expenditures of about 13.3 billion yuan in 2025, focusing on aggregate, overseas cement capacity, and alternative fuel construction[57]. Risk Management - The company faces risks from declining domestic cement demand and severe overcapacity, which may lead to performance declines[63]. - Increased production costs due to various factors, including energy market uncertainties and compliance with carbon reduction targets, pose a risk to the company[64]. - The company is actively implementing various risk hedging strategies to mitigate regional economic and foreign exchange risks[68]. Environmental and Social Responsibility - The company achieved a carbon emission intensity of 583.26 kg, a reduction of 2.61 kg year-on-year[24]. - The company is committed to green and low-carbon development, increasing investments in safety and environmental protection measures[67]. - The company received multiple awards, including the "National May Day Labor Award" and recognition as a "Low Carbon Standardization Work Station" in the cement industry[29].

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。 HUAXIN CEMENT CO., LTD.* (於中華人民共和國註冊成立的股份有限公司) (股份代號： 6655) 本公告乃根據《香港聯合交易所有限公司證券上市規則》(「《上市規則》」)第13.09條和第13.10B 條及《證券及期貨條例》(香港法例第571章)第XIVA部刊發。 根據中華人民共和國(「 」)上海證券交易所的適用規則，華新水泥股份有限公司(「 」或「 」) 及其附屬公司(與本公司合稱為「 」) 由二零二四年七月一日至 二零二四年九月三十日 (「 」) 第三季度報告(「 」) 將於二零二四年十月二 十六日刊登於中國報章，其所載財務報告乃根據中國會計準則編製，且未經審計。 季度報告以中文編製，並翻譯為英文，如中英文文本有任何不一致，以中文文本為準。 1 公司董事會、監事會及董事、監事、高級管理人員保證季度報告內容的真實、準確、完整，不存 在虛假記載、誤導性陳述或重大遺漏，並承擔個別和連帶 ...

Financial Performance - Revenue for Q3 2024 reached ¥8,481,719,094, an increase of 1.78% compared to the same period last year[2] - Net profit attributable to shareholders decreased by 40.17% to ¥407,874,433 in Q3 2024[2] - The net profit after deducting non-recurring gains and losses was ¥383,066,355, down 41.34% year-on-year[2] - EBITDA for the year-to-date period was ¥5.586 billion, a decline of 9.04% compared to the previous year[4] - The net profit attributable to the parent company for the first three quarters of 2024 is CNY 1,138,427,807, a decrease from CNY 1,874,323,694 in the same period of 2023, representing a decline of approximately 39.3%[13] - Total operating revenue for the first three quarters of 2024 is CNY 24,719,092,748, an increase of 2.3% compared to CNY 24,164,876,879 in the same period of 2023[13] - Total operating costs increased to CNY 22,746,306,525, up 6.5% from CNY 21,351,174,063 in the first three quarters of 2023[13] - The company's operating profit for the first three quarters of 2024 is CNY 2,113,231,271, down from CNY 2,909,709,095 in the same period of 2023, reflecting a decrease of approximately 27.3%[13] - The total comprehensive income for the first three quarters of 2024 is CNY 1,543,394,712, down from CNY 2,153,463,903 in the same period of 2023[14] - Basic earnings per share for the first three quarters of 2024 is CNY 0.55, compared to CNY 0.90 in the same period of 2023[14] Assets and Liabilities - Total assets at the end of the reporting period were ¥68,830,895,971, reflecting a slight increase of 0.04% from the end of the previous year[3] - Current assets totaled RMB 15.09 billion, down from RMB 15.22 billion at the end of 2023, with cash and cash equivalents at RMB 5.52 billion[11] - Accounts receivable increased significantly to RMB 3.56 billion from RMB 2.26 billion, indicating a growth of approximately 57%[11] - Total liabilities stood at RMB 35.46 billion, a marginal decrease from RMB 35.51 billion at the end of 2023[12] - The company's equity attributable to shareholders was RMB 28.92 billion, slightly down from RMB 28.93 billion at the end of 2023[12] Cash Flow - The company reported a net cash flow from operating activities of ¥3,381,818,805, down 3.46% compared to the same period last year[2] - The net cash flow from operating activities for the first three quarters of 2024 is CNY 3,381,818,805, a decrease from CNY 3,502,921,498 in the same period of 2023[15] - The company reported a net cash outflow from investing activities of CNY 1,748,072,245 for the first three quarters of 2024, compared to a net outflow of CNY 2,767,490,621 in the same period of 2023[15] - The net cash flow from financing activities for the first three quarters of 2024 is CNY -1,843,090,185, slightly improved from CNY -1,862,927,893 in the same period of 2023[15] - The cash and cash equivalents at the end of the third quarter of 2024 amount to CNY 5,083,527,232, a decrease from CNY 5,587,057,061 at the end of the same period in 2023[16] Shareholder Information - The company has 46,297 common shareholders as of the end of the reporting period[7] - The first phase of the employee stock ownership plan unlocked 802,646 shares, representing 0.0386% of the total share capital[10] - The second phase of the employee stock ownership plan involved the purchase of 3,290,225 shares, accounting for 0.1583% of the total share capital[10] Other Financial Metrics - The weighted average return on net assets was 1.42%, a decrease of 2.83 percentage points year-on-year[3] - The decline in net profit was primarily attributed to the drop in domestic cement prices[6] - Non-recurring gains totaled ¥24,808,078 for the current period, with government subsidies contributing ¥22,432,866[5] - The company issued RMB 11 billion in corporate bonds with a maturity of 5 years and a coupon rate of 2.49%[9] - The company reported a decrease in short-term borrowings to RMB 516.57 million from RMB 644.33 million[12] - Inventory decreased to RMB 3.25 billion from RMB 3.46 billion, reflecting a reduction of approximately 6%[11]

[Definitions](index=3&type=section&id=I.%20Definitions) Provides definitions of key terms used throughout the report [Company Information](index=3&type=section&id=II.%20Company%20Information) Presents fundamental details about the company's registration and contact information [Management Discussion and Analysis](index=5&type=section&id=III.%20Management%20Discussion%20and%20Analysis) Analyzes the company's operational performance, financial condition, and future outlook [Industry Trends and Main Business](index=5&type=section&id=Report%20Period%20Industry%20Trends%20and%20Main%20Business%20Overview) In H1 2024, the domestic cement industry faced severe challenges from declining real estate investment, with national cement output hitting a new low since H1 2011; despite this, Huaxin Cement diversified into concrete, aggregates, and environmental services across 17 domestic provinces and 16 overseas countries, with non-cement businesses becoming significant profit contributors even as cement still dominated revenue at **53%** H1 2024 Macroeconomic and Industry Data | Indicator | Value | YoY Change | | :--- | :--- | :--- | | Gross Domestic Product (GDP) | - | +5.0% | | National Fixed Asset Investment | 24.54 trillion yuan | +3.9% | | Infrastructure Investment | - | +5.4% | | Real Estate Development Investment | - | -10.1% | | National Cumulative Cement Output | 8.5 million tons | -10.76% | - The company has evolved into a global, integrated building materials group with a full industry chain, encompassing cement, concrete, aggregates, environmental protection, equipment manufacturing and engineering, and new building materials[11](index=11&type=chunk) Company's Main Production Capacity as of June 30, 2024 | Business Segment | Annual Capacity/Processing Capacity | | :--- | :--- | | Cement Capacity | 127 million tons | | Commercial Concrete | 52,184 cubic meters/hour | | Aggregates | 280 million tons | | Waste Disposal | 16.87 million tons | - As of the end of the reporting period, cement business revenue accounted for **53%** of the company's total operating revenue, remaining dominant, but non-cement businesses have become significant profit contributors[11](index=11&type=chunk) [Analysis of Core Competencies](index=5&type=section&id=Analysis%20of%20Core%20Competencies%20During%20the%20Reporting%20Period) The company maintained strong comprehensive competitiveness by continuously strengthening its core advantages in scale, industrial chain integration, green development, technological innovation, brand, product quality, strategic layout, intelligent management, and management team - The company continuously strengthened and enhanced eight core competitive advantages: scale and industrial chain, green and low-carbon development, technological innovation, brand, product quality, strategic layout, intelligent management, and management team[12](index=12&type=chunk) [Overview of Operating Performance](index=6&type=section&id=Overview%20of%20Operating%20Performance%20During%20the%20Reporting%20Period) In H1 2024, despite domestic cement market challenges, the company achieved **2.56%** revenue growth to **16.237 billion yuan** driven by strong overseas, aggregates, and concrete businesses, effectively offsetting a **38.74%** decline in net profit due to domestic cement price and volume drops H1 2024 Key Performance Indicators | Indicator | Amount (RMB) | YoY Change | | :--- | :--- | :--- | | Operating Revenue | 16.237 billion yuan | +2.56% | | Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) | 3.698 billion yuan | -1.88% | | Net Profit Attributable to Parent Company | 731 million yuan | -38.74% | H1 2024 Major Product Sales Volume | Product | Sales Volume | YoY Change | | :--- | :--- | :--- | | Cement and Commercial Clinker (Total) | 28.4844 million tons | -4.9% | | - Of which: Overseas Cement and Clinker | 7.5976 million tons | +47.0% | | Aggregates | 71.5261 million tons | +41.60% | | Concrete | 14.7005 million cubic meters | +34.25% | H1 2024 Operating Revenue by Business Segment | Business Segment | Revenue (RMB) | YoY Change | | :--- | :--- | :--- | | Cement Business (Total) | 8.666 billion yuan | -11.25% | | - Of which: Domestic Cement | 5.106 billion yuan | -31.57% | | - Of which: Overseas Cement | 3.578 billion yuan | +55.41% | | Aggregates Business | 2.962 billion yuan | +36.96% | | Concrete Business | 3.943 billion yuan | +24.21% | - The company continued to advance its overseas business development, with new construction or upgrade projects in Mozambique, Malawi, Zambia, South Africa, and Zimbabwe, expected to add approximately **3 million tons/year** of clinker capacity and **2.7 million tons/year** of cement grinding capacity[14](index=14&type=chunk) - The company adhered to green and low-carbon development, cumulatively using **2.2 million tons** of alternative fuels in the first half, achieving a thermal substitution rate of **21.5%** and reducing carbon dioxide emissions by **1.2 million tons**[14](index=14&type=chunk) [Analysis of Key Operating Performance](index=7&type=section&id=Key%20Operating%20Performance%20During%20the%20Reporting%20Period) During the reporting period, the company's financial expenses increased significantly due to exchange losses, while net cash outflow from investing activities improved due to reduced M&A and construction expenditures, and accounts receivable grew with concrete business expansion [Analysis of Income Statement and Cash Flow Statement](index=7&type=section&id=Analysis%20of%20Changes%20in%20Key%20Items%20of%20Income%20Statement%20and%20Cash%20Flow%20Statement) During the reporting period, financial expenses significantly increased by **63.09%** due to higher exchange losses, while net cash outflow from investing activities narrowed by **46.95%** due to reduced M&A and construction expenditures, and financing cash outflow also narrowed by **47.27%** from decreased debt repayments Changes in Key Items of Income Statement and Cash Flow Statement | Item | Current Period (RMB) | Prior Period (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 16,237,373,654 | 15,831,572,500 | 2.56 | | Financial Expenses | 399,954,782 | 245,237,036 | 63.09 | | Net Cash Flow from Operating Activities | 1,730,584,063 | 2,127,167,281 | -18.64 | | Net Cash Flow from Investing Activities | -1,178,576,055 | -2,221,519,537 | 46.95 | | Net Cash Flow from Financing Activities | -1,083,480,073 | -2,054,800,997 | 47.27 | - The change in financial expenses was primarily due to increased exchange losses[15](index=15&type=chunk) - The change in net cash flow from investing activities was primarily due to reduced expenditures on corporate acquisitions and construction projects[16](index=16&type=chunk) [Assets and Liabilities](index=7&type=section&id=Assets%20and%20Liabilities) As of the reporting period end, accounts receivable increased by **40.97%** due to expanded concrete business, while employee compensation and taxes payable decreased, and long-term payables surged by **178.38%** due to increased mining rights transfer fees Changes in Key Items of Balance Sheet | Item | Current Period End (yuan) | Change from Prior Year End (%) | Reason for Change | | :--- | :--- | :--- | :--- | | Accounts Receivable | 3,185,256,332 | 40.97 | Expanded concrete business | | Employee Compensation Payable | 139,927,592 | -55.21 | Payment of prior year performance bonuses | | Taxes Payable | 409,223,155 | -42.04 | Lower profitability, reduced income tax payable | | Other Payables | 1,421,829,979 | 41.54 | H-share dividends to be paid after distribution | | Long-term Payables | 920,951,115 | 178.38 | Increased mining rights transfer fees | [Other Financial Notes](index=8&type=section&id=Other%20Notes) As of the reporting period end, the group's capital structure, liquidity, and financial resources remained stable, with the asset-liability ratio slightly increasing to **52.2%**, and capital expenditures of approximately **1.44 billion yuan** primarily for overseas expansion and energy-saving upgrades - The group's asset-liability ratio increased from **51.6%** at the beginning of the year to **52.2%** at the end of the reporting period[19](index=19&type=chunk) Bank Loan Maturity Analysis (as of June 30, 2024) | Maturity | Amount (RMB) | | :--- | :--- | | Within 1 year | 3,592,702,902 | | 1 to 2 years | 3,256,340,280 | | 2 to 5 years | 4,663,064,870 | | Over 5 years | 670,752,151 | | **Total** | **12,182,860,203** | - Capital expenditures in H1 2024 were approximately **1.44 billion yuan**, primarily for overseas production line construction and energy-saving upgrades[23](index=23&type=chunk) [Outlook for H2 2024](index=9&type=section&id=Outlook%20for%20H2%202024) For H2 2024, the company anticipates seasonal recovery in cement demand driven by infrastructure policies but expects overall annual demand decline and overcapacity to persist, thus implementing four new strategies to stabilize domestic performance and expand overseas - In H2, with the issuance of ultra-long-term special treasury bonds and the advancement of the 'Three Major Projects,' infrastructure investment is expected to maintain growth, and cement demand may see a seasonal rebound, though the full-year demand trend is still projected to decline[25](index=25&type=chunk) - The company set its long-term strategic goal to become a global leading multinational building materials enterprise and will implement four new strategies: - Overseas multi-business development strategy - Domestic integrated synergy strategy - Carbon reduction and value-added innovation strategy - Digital AI-driven strategy[25](index=25&type=chunk) [Significant Matters](index=10&type=section&id=IV.%20Significant%20Matters) Details major corporate events, including guarantees, litigation, and share-related activities [Significant Guarantees and Other Matters](index=10&type=section&id=Significant%20Guarantees%20Performed%20and%20Outstanding%20During%20the%20Reporting%20Period) During the reporting period, the company had no significant related-party transactions or new major litigation, with outstanding guarantees to subsidiaries totaling **10.534 billion yuan**, representing **31.94%** of net assets - As of the end of the reporting period, the company's total guarantee balance to its subsidiaries was **10,533,738,439 yuan**, accounting for **31.94%** of the company's net assets[27](index=27&type=chunk) - During the reporting period, the company had no new significant litigation or arbitration matters, nor did it repurchase, sell, or redeem any of its listed securities[27](index=27&type=chunk) [Share Changes and Shareholder Information](index=11&type=section&id=V.%20Share%20Changes%20and%20Shareholder%20Information) Outlines changes in share capital and provides an overview of the company's shareholder structure [Shareholder Information](index=11&type=section&id=Shareholder%20Information) As of June 30, 2024, the company's share capital structure remained unchanged with **42,076** shareholders, and Holcim Ltd, through its controlled entities, held a total of **41.81%** equity interest - As of June 30, 2024, the company had a total of **42,076** shareholders, including **42,067** A-share shareholders and **9** H-share shareholders[28](index=28&type=chunk) Top Ten Shareholders' Holdings (as of June 30, 2024) | Shareholder Name | Share Class | Number of Shares Held | Percentage (%) | | :--- | :--- | :--- | :--- | | Hong Kong Securities Clearing Company Nominees Limited | H-share | 734,719,919 | 35.34 | | HOLCHIN B.V. | A-share | 451,333,201 | 21.71 | | Huaxin Cement Group Co., Ltd. | A-share | 338,060,739 | 16.26 | | Hong Kong Securities Clearing Company Limited | A-share | 29,245,175 | 1.41 | - To the best knowledge of the Directors, major shareholder Holcim Ltd, through its controlled entities, collectively held **869,235,668** A-shares and H-shares, accounting for **41.81%** of the total share capital[31](index=31&type=chunk) [Directors, Supervisors, and Senior Management](index=14&type=section&id=VI.%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) Provides information on the company's governance structure, including personnel changes and employee details [Changes in Directors, Supervisors, and Senior Management](index=14&type=section&id=Changes%20in%20Information%20of%20Company%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management%20During%20the%20Reporting%20Period) On May 21, 2024, the company completed the re-election of its Board of Directors and Supervisory Committee, with Mr. Xu Yongmo elected as Chairman and Mr. Li Yeqing appointed as President, while some Vice Presidents and Supervisors ceased their roles due to the re-election - On May 21, 2024, the company completed the re-election of its Board of Directors and Supervisory Committee, with Mr. Xu Yongmo elected as the new Chairman of the Board and Mr. Li Yeqing appointed as the company's President[35](index=35&type=chunk) [Employee Information](index=15&type=section&id=Employee%20Information) As of June 30, 2024, the group employed **20,576** staff globally, implementing a performance-linked compensation system and diverse training programs to enhance capabilities and support overseas expansion - As of June 30, 2024, the Group had a total of **20,576** employees on duty (including overseas)[42](index=42&type=chunk) [Equity Incentive Plans](index=15&type=section&id=Equity%20Incentive%20Plans%2C%20Employee%20Stock%20Ownership%20Plans%2C%20or%20Other%20Employee%20Incentive%20Measures) The company's '2020-2022 Stock Ownership Plan' second lock-up period expired in May 2024, while the first phase of the '2023-2025 Stock Ownership Plan' failed to meet performance targets, leading to the disposal of unvested shares, and the second phase is approved but not yet implemented - The second lock-up period of the company's 2020–2022 Core Employee Stock Ownership Plan expired on May 26, 2024[44](index=44&type=chunk) - The first phase (2023) of the company's 2023–2025 Core Employee Stock Ownership Plan failed to meet performance assessment targets, and some unvested shares were recovered and disposed of by the Stock Ownership Plan Management Committee[50](index=50&type=chunk) - The second phase (2024) of the company's 2023–2025 Core Employee Stock Ownership Plan has been approved by the Board of Directors, but as of the end of the reporting period, the purchase of shares and grant of awards had not yet been completed[53](index=53&type=chunk) [Other Information](index=19&type=section&id=VII.%20Other%20Information) Covers additional disclosures such as dividend policies and significant events occurring after the reporting period [Interim Dividends and Post-Balance Sheet Events](index=19&type=section&id=Interim%20Dividends%20and%20Post-Balance%20Sheet%20Events) The Board resolved not to declare an interim dividend for 2024, and post-reporting, the company successfully issued **1.1 billion yuan** in technology innovation corporate bonds on August 14, 2024, to repay maturing debt - The Board resolved not to declare an interim dividend for 2024, nor to implement a capital increase from capital reserves[56](index=56&type=chunk) - Post-balance sheet event: On August 14, 2024, the company completed the issuance of **1.1 billion yuan** in 5-year technology innovation corporate bonds with a coupon rate of **2.49%**, with proceeds used to repay maturing bonds[56](index=56&type=chunk) [Financial Report (Unaudited)](index=20&type=section&id=VIII.%20Financial%20Report%20%28Unaudited%29) Presents the company's unaudited consolidated financial statements, including balance sheet, income statement, and cash flow statement [Consolidated Balance Sheet](index=20&type=section&id=Consolidated%20Balance%20Sheet) As of June 30, 2024, the company's total assets were **68.975 billion yuan**, total liabilities **35.993 billion yuan**, and total shareholders' equity **32.983 billion yuan**, with the asset-liability ratio slightly increasing to **52.2%** Key Items of Consolidated Balance Sheet (as of June 30, 2024) | Item | Amount (RMB) | | :--- | :--- | | **Total Assets** | **68,975,448,352** | | Total Current Assets | 14,892,060,709 | | Total Non-current Assets | 54,083,387,643 | | **Total Liabilities** | **35,992,702,978** | | Total Current Liabilities | 18,900,379,507 | | Total Non-current Liabilities | 17,092,323,471 | | **Total Shareholders' Equity** | **32,982,745,374** | | Equity Attributable to Parent Company Shareholders | 28,687,519,804 | [Consolidated Income Statement](index=26&type=section&id=Consolidated%20Income%20Statement) In H1 2024, total operating revenue grew **2.56%** to **16.237 billion yuan**, but operating profit decreased **22.78%** to **1.359 billion yuan**, resulting in a **38.74%** decline in net profit attributable to parent company shareholders to **731 million yuan** Key Items of Consolidated Income Statement (H1 2024) | Item | H1 2024 (yuan) | H1 2023 (yuan) | | :--- | :--- | :--- | | Total Operating Revenue | 16,237,373,654 | 15,831,572,500 | | Operating Profit | 1,359,412,532 | 1,760,441,304 | | Total Profit | 1,343,287,311 | 1,738,266,841 | | Net Profit | 1,021,686,381 | 1,349,942,719 | | Net Profit Attributable to Parent Company Shareholders | 730,553,374 | 1,192,560,395 | | Basic EPS (yuan/share) | 0.35 | 0.58 | [Consolidated Cash Flow Statement](index=30&type=section&id=Consolidated%20Cash%20Flow%20Statement) In H1 2024, net cash flow from operating activities was **1.731 billion yuan**, a **18.64%** decrease, while net cash outflows from investing and financing activities significantly narrowed by **46.95%** and **47.27%** respectively, with cash and cash equivalents at period-end totaling **4.824 billion yuan** Consolidated Cash Flow Statement Summary (H1 2024) | Item | H1 2024 (yuan) | H1 2023 (yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 1,730,584,063 | 2,127,167,281 | | Net Cash Flow from Investing Activities | -1,178,576,055 | -2,221,519,537 | | Net Cash Flow from Financing Activities | -1,083,480,073 | -2,054,800,997 | | Net Increase in Cash and Cash Equivalents | -546,065,554 | -2,073,146,359 | | Cash and Cash Equivalents at Period End | 4,824,050,431 | 4,542,875,419 | [Notes to Financial Statements](index=37&type=section&id=Notes%20to%20Financial%20Statements) The notes provide essential background and detailed information for understanding the financial statements, covering the company's basic situation, basis of preparation, significant accounting policies, estimates, and detailed explanations of major consolidated financial statement items

Financial Performance - The company's operating revenue for the first half of 2024 was CNY 16,237,373,654, representing a 2.56% increase compared to CNY 15,831,572,500 in the same period last year[15]. - Net profit attributable to shareholders decreased by 38.74% to CNY 730,553,374 from CNY 1,192,560,395 year-on-year[15]. - The net cash flow from operating activities was CNY 1,730,584,063, down 18.64% from CNY 2,127,167,281 in the previous year[15]. - The company's EBITDA for the reporting period was CNY 3,698,000,000, a decline of 1.88% year-on-year[15]. - Basic earnings per share decreased by 39.66% to CNY 0.35 from CNY 0.58 in the same period last year[16]. - The weighted average return on net assets fell to 2.49%, down 1.75 percentage points from 4.24% in the previous year[16]. - The company reported a net profit of CNY 316,453,435 from Huaxin Cement (Wuxue) Co., Ltd., with operating revenue of CNY 1,184,482,565[40]. - The total profit for the first half of 2024 was CNY 1,343,287,311, down from CNY 1,738,266,841 in the same period of 2023, a decrease of 22.73%[109]. - The company’s total comprehensive income for the first half of 2024 was CNY 1,107,518,927, compared to CNY 730,796,704 in the same period of 2023, reflecting a significant increase[113]. Asset and Liability Management - Total assets increased slightly by 0.25% to CNY 68,975,448,352 compared to CNY 68,800,268,263 at the end of the previous year[15]. - The net assets attributable to shareholders decreased by 0.85% to CNY 28,687,519,804 from CNY 28,932,949,847 at the end of the previous year[15]. - The total liabilities increased to CNY 35,992,702,978, up from CNY 35,505,385,821, reflecting a growth of approximately 1.37%[106]. - The company's interest-bearing debt increased from 5.517 billion RMB at the beginning of the reporting period to 6.237 billion RMB at the end, reflecting a year-on-year change of 13.05%[94]. - The current ratio decreased to 0.79 from 0.80, while the quick ratio fell to 0.58 from 0.60, indicating a slight decline in liquidity[102]. - The asset-liability ratio increased to 52.2%, up by 0.6 percentage points compared to the previous year[102]. Market and Operational Insights - The domestic cement market saw a 10.76% year-on-year decline in production, totaling 850 million tons, marking the lowest level since 2011[19]. - As of June 30, 2024, the company's cement production capacity reached 127 million tons per year, with cement sales accounting for 53% of total revenue[20]. - Cement and clinker sales volume was 28.48 million tons, down 4.9% year-on-year, while overseas sales increased by 47.0% to 7.60 million tons[28]. - The company’s cement business revenue was CNY 8.67 billion, down 11.25% year-on-year, with domestic revenue declining by 31.57%[28]. - The company operates in 17 provinces in China and 16 countries overseas, with a total of over 300 subsidiaries[20]. Environmental and Sustainability Efforts - The company is actively expanding its low-carbon product offerings, including ultra-high-performance concrete and new wall materials[23]. - The company utilized 2.20 million tons of alternative fuels, achieving a thermal substitution rate of 21.5% and reducing CO2 emissions by 1.20 million tons[30]. - The company is committed to promoting low-carbon cement products and optimizing production processes to reduce carbon emissions[60]. - The company strictly adhered to environmental regulations, with no penalties for exceeding pollutant discharge limits during the reporting period[51]. - The company conducted internal environmental audits to enhance pollution prevention measures and compliance with environmental laws[59]. Financial Strategy and Shareholder Engagement - The company did not distribute profits or increase capital reserves during the reporting period[3]. - The company has not proposed any profit distribution or capital reserve increase for the half-year period[47]. - Major shareholders include Hong Kong Central Clearing Limited with 734,719,919 shares and Holchin B.V. with 451,333,201 shares, indicating strong institutional support[76]. - The management team, including the CEO, increased their shareholdings, with the CEO acquiring an additional 156,800 shares during the reporting period[78]. - The company has not engaged in any share buyback activities during the reporting period, maintaining its current capital structure[76]. Risk Management - The company has outlined potential risks in its management discussion and analysis section, advising investors to be cautious[4]. - The company faces risks from declining domestic cement demand and overcapacity, which may lead to performance declines[41]. - The company plans to enhance its competitive strength through supply-side structural reforms and green low-carbon development initiatives[42]. Research and Development - Research and development expenses increased to CNY 70,954,352, compared to CNY 58,342,983 in the previous year, marking a growth of 21.83%[109]. - The company is actively pursuing market expansion strategies, although specific new product launches were not detailed in the report[76]. Financial Reporting and Compliance - The financial statements comply with the requirements of the enterprise accounting standards, reflecting the financial position and operating results as of June 30, 2024[124]. - The company has sufficient operating funds to cover operational needs and repay due debts, supporting the appropriateness of preparing financial statements on a going concern basis[122]. - Significant judgments and estimates are made in preparing financial statements, affecting the reported amounts of income, expenses, assets, and liabilities[185].

Financial Performance - For the six months ending June 30, 2024, the group's unaudited revenue was RMB 16,237 million, an increase of 2.56% compared to RMB 15,832 million in the same period of 2023[2] - The group's unaudited EBITDA for the same period was RMB 3,698 million, a decrease of 1.88% from RMB 3,769 million in the prior year[2] - The profit attributable to equity holders for the six months was RMB 731 million, down 38.74% from RMB 1,192 million in the same period last year, with basic earnings per share of RMB 0.35[2] - The net profit for the first half of 2024 was RMB 1,022 million, down from RMB 1,350 million in the same period of 2023[5] - The company reported a decrease in total comprehensive income to RMB 1,188 million from RMB 1,456 million in the same period last year[5] - The total profit for the first half of 2024 is $1,343,287,311, a decrease from $1,738,266,841 in the same period of 2023, representing a decline of approximately 22.7%[17] - The weighted average return on equity for the company is 2.49%, with basic and diluted earnings per share both at $0.35 for the first half of 2024[18] - The net profit attributable to shareholders was CNY 731 million, a year-on-year decrease of 38.74%[29] Revenue and Sales - For the first half of 2024, the company's total revenue reached RMB 16,237,373,654, an increase from RMB 15,831,572,500 in the same period of 2023, representing a growth of approximately 2.56%[9] - Cement sales accounted for RMB 8,367,925,294 in the first half of 2024, down from RMB 9,191,200,494 in the same period of 2023, reflecting a decline of approximately 8.97%[10] - The company’s cement business revenue was CNY 8.666 billion, down 11.25% year-on-year, with domestic revenue declining by 31.57%[29] - Cement and clinker sales volume was 28.4844 million tons, down 4.9% year-on-year, while overseas sales increased by 47.0% to 7.5976 million tons[29] Costs and Expenses - Total operating costs for the first half of 2024 were RMB 14,939 million, with operating costs specifically at RMB 12,397 million, compared to RMB 14,092 million in the same period of 2023[4] - The cost of revenue for the first half of 2024 was RMB 12,396,833,893, compared to RMB 11,971,182,161 in the first half of 2023, indicating an increase of about 3.55%[9] - Financial expenses for the first half of 2024 totaled RMB 399,954,782, significantly higher than RMB 245,237,036 in the same period of 2023, marking an increase of approximately 62.93%[15] - The average selling price of cement decreased by CNY 21.76 per ton to CNY 304.24 per ton, while the cost fell by CNY 10.39 per ton to CNY 241.24 per ton[30] Assets and Liabilities - The total assets as of June 30, 2024, amounted to RMB 68,975 million, slightly up from RMB 68,800 million at the end of 2023[6] - The company's total liabilities as of June 30, 2024, amounted to RMB 35,992,702,978, an increase from RMB 35,505,385,821 as of December 31, 2023[7] - The total equity attributable to shareholders was RMB 28,687,519,804 as of June 30, 2024, down from RMB 28,932,949,847 at the end of 2023, a decrease of about 0.85%[7] - The total non-current liabilities reached RMB 17,092,323,471 as of June 30, 2024, up from RMB 16,571,170,755 at the end of 2023, representing an increase of approximately 3.15%[7] Cash Flow and Receivables - Cash and cash equivalents decreased to RMB 5,257 million from RMB 5,849 million at the end of 2023[6] - Accounts receivable as of June 30, 2024, total $3,185,256,332, an increase from $2,259,496,157 as of December 31, 2023, reflecting a growth of approximately 41%[19] - The allowance for bad debts increased to $262,665,491 as of June 30, 2024, compared to $235,701,561 at the end of 2023, marking an increase of about 11.4%[23] - The company has written off accounts receivable amounting to $3,085,320 during the current period[24] Strategic Focus and Future Outlook - The company plans to continue focusing on market expansion and new product development to drive future growth[2] - The company anticipates continued challenges in revenue generation due to market conditions, impacting future earnings guidance[17] - The company is focusing on improving its collection processes to manage accounts receivable more effectively[19] - The company plans to enhance its overseas business, with new production lines in Mozambique and Malawi expected to add a total of approximately 3 million tons of clinker capacity per year[31] - The company anticipates a seasonal recovery in cement demand in the second half of 2024, although overall demand is expected to decline for the year[33] - The company aims to become a leading multinational building materials enterprise, focusing on overseas multi-business development and digital AI-driven strategies[33] Governance and Compliance - The audit committee has been established to oversee the financial reporting process, risk management, and internal control systems[36] - The company adhered to the principles and code provisions of the Corporate Governance Code during the reporting period[37] - The company did not engage in any significant litigation or arbitration matters during the reporting period[34] - No significant events affecting the group occurred from the end of the reporting period until the announcement date[38]

华新水泥股份有限公司 本期计划的资金来源为公司计提的激励对象 2024 年度长期激励薪酬 3918.03 万元。本期计划的股票来源为通过二级市场购买（包括大宗交易以及竞 价交易等方式）的公司 A 股普通股股票。截至 2024 年 7 月 31 日，本期计划已累 计买入公司 A 股股票 1,387,476 股，占公司总股本的 0.0667%，成交均价 13.94 元/股，成交总金额为 1,934 万元（不含交易费）。 证券代码：600801 证券简称：华新水泥 公告编号：2024-019 2023-2025 年核心员工持股计划之 第二期（2024 年）核心员工持股计划实施进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 华新水泥股份有限公司（以下简称"公司"）分别于 2023 年 6 月 30 日、2023 年 7 月 20 日召开第十届董事会第二十六次会议、2023 年第三次临时股东大会审 议通过了《关于公司 2023-2025 年核心员工持股计划（草案）的议案》及其摘 要等相关议案，具体内容详见公司于 2023 ...

证券代码：600801 证券简称：华新水泥 公告编号：2024-017 华新水泥股份有限公司 关于2024 年度"提质增效重回报"行动方案 的提示性公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重 大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 为深入贯彻中央经济工作会议和中央金融工作会议精神，响应上海证券交 易所《关于开展沪市公司"提质增效重回报"专项行动的倡议》，践行以"投 资者为中心"的发展理念，维护公司全体股东利益，进一步提高上市公司质量 和投资价值，持续优化公司经营，规范治理，强化市场竞争力，积极回报广大 投资者，树立良好的资本市场形象，公司制定了 2024 年度"提质增效重回报" 行动方案。具体内容如下： 一、总体工作思路 2024年，面对国内水泥、骨料、混凝土等建材的需求持续下滑，价格竞争 更趋激烈的不利局面，公司围绕"创建世界一流跨国企业"的目标，通过扎实 推进"一体化转型发展、海外发展、新型建材业务拓展、传统工业+数字化创新" 四大战略，加快绿色化智能化国际化转型，逆风破浪，变局开新。在国内市场， 以更大力度抓好市场开拓，降本增效，努力实现稳市场 ...

证券代码：600801 证券简称：华新水泥 公告编号：2024-015 华新水泥股份有限公司 2023-2025 年核心员工持股计划之 第二期（2024 年）核心员工持股计划实施进展公告 截至本公告日，本期计划尚未开始在二级市场购买标的股票。 公司将持续关注本期计划的实施进展情况，并按照相关法律法规的规定及时 履行信息披露义务。敬请广大投资者注意投资风险。 特此公告。 华新水泥股份有限公司董事会 2024 年 6 月 4 日 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 华新水泥股份有限公司（以下简称"公司"）分别于 2023 年 6 月 30 日、2023 年 7 月 20 日召开第十届董事会第二十六次会议、2023 年第三次临时股东大会审 议通过了《关于公司 2023-2025 年核心员工持股计划（草案）的议案》及其摘 要等相关议案，具体内容详见公司于 2023 年 7 月 1 日、2023 年 7 月 21 日披露 的相关公告。 公司于 2024 年 5 月 21 日召开第十一届董事会第一次会议，审议通过了《关 ...

证券代码：600801 证券简称：华新水泥 编号：2024-013 选举明进华先生为公司第十一届监事会主席。 特此公告。 华新水泥股份有限公司监事会 2024 年 5 月 22 日 华新水泥股份有限公司 第十一届监事会第一次会议决议公告 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏， 并对其内容的真实性、准确性和完整性承担个别及连带责任。 华新水泥股份有限公司（以下简称"公司"）第十一届监事会第一次会议，于 2024 年 5 月 21 日召开。会议应到监事 5 人，实到 5 人。本次会议由明进华先生主持。公司于 2024 年 5 月 11 日以通讯方式向全体监事发出了会议通知。会议符合有关法律、法规、规章、规范性文件和公司 章程的规定，合法有效。 本次监事会会议经审议并投票表决，形成如下重要决议： 一、关于选举公司第十一届监事会主席的议案（表决结果：同意 5 票， 反对 0 票，弃权 0 票） ...