证券代码：002233 证券简称：塔牌集团 广东塔牌集团股份有限公司投资者关系活动记录表 编号：2022-012 | --- | --- | --- | |---------------------------|-------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Financial Performance - The company's revenue for Q3 2022 was ¥1,519,214,356.29, a decrease of 5.53% compared to the same period last year[5]. - The net profit attributable to shareholders for the first nine months of 2022 was ¥104,619,831.24, down 92.03% year-on-year[5]. - The company's operating income decreased by 21.55%, leading to a 91.04% reduction in income tax expenses, from 41,882.54 million to 3,751.59 million[16]. - Net profit for the third quarter was CNY 106,541,230.52, a significant decline of 91.9% from CNY 1,313,197,305.71 in the previous year[39]. - The company reported a total comprehensive income of CNY 105,946,444.91, significantly lower than CNY 1,316,379,643.97 in the same period last year[42]. Production and Sales - Cement production for the first nine months of 2022 was 12.384 million tons, a decrease of 16.27% year-on-year, while sales volume was 12.127 million tons, down 16.87%[10]. - The average sales cost of cement increased by 21.00% year-on-year, influenced by a 32.60% rise in coal procurement prices[12]. - Inventory increased by 43.24% year-on-year, primarily due to a significant decline in cement sales[13]. Assets and Liabilities - The company's total assets as of September 30, 2022, were ¥12,783,302,762.54, a decrease of 7.56% from the end of the previous year[5]. - The company's current assets totaled CNY 5,148,354,843.66, down from CNY 5,900,529,156.28 at the start of the year, indicating a decline of approximately 12.7%[27]. - The total liabilities decreased to CNY 1,542,533,090.92 from CNY 2,078,052,339.92, representing a reduction of approximately 26%[33]. - The total non-current assets were reported at CNY 7,634,947,918.88, down from CNY 7,927,849,454.25, marking a decrease of about 3.7%[30]. Cash Flow - The net cash flow from operating activities dropped by 111.66%, from 105,560.83 million to -12,309.50 million, primarily due to a significant decline in profitability and increased inventory[16]. - Cash flow from operating activities was CNY 4,577,987,941.82, down from CNY 5,907,929,278.93, a decrease of 22.5%[42]. - The company reported a weighted average return on equity of -0.59% for the reporting period, down 4.19% year-on-year[5]. - The cash flow from investment activities increased by 258.10%, from -62,984.05 million to 99,580.47 million, mainly due to the recovery of some investment products[18]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 72,411, with the top ten shareholders holding a significant portion of the shares[19]. - The company's total equity attributable to shareholders was CNY 11,207,983,655.88, down from CNY 11,719,607,261.52, a decrease of 4.4%[39]. - The company’s minority shareholders' profit increased by 134.75%, from 81.85 million to 192.14 million, mainly due to the acquisition of 60% equity in Huizhou Tower Environmental Protection[16]. Research and Development - Research and development expenses increased by 40.52%, from 649.25 million to 912.31 million, mainly due to increased labor costs for R&D projects[16].

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 2,593,030,526.66, a decrease of 28.64% compared to CNY 3,633,560,361.58 in the same period last year[27]. - The net profit attributable to shareholders of the listed company was CNY 174,709,477.43, down 80.90% from CNY 914,607,233.19 in the previous year[27]. - The net cash flow from operating activities was negative CNY 544,549,923.45, a decline of 175.91% compared to CNY 717,361,438.40 in the same period last year[27]. - Basic earnings per share decreased to CNY 0.15, down 80.77% from CNY 0.78 in the previous year[27]. - Total assets at the end of the reporting period were CNY 12,715,425,415.26, a decrease of 8.05% from CNY 13,828,378,610.53 at the end of the previous year[27]. - The net assets attributable to shareholders of the listed company were CNY 11,258,017,015.48, down 3.94% from CNY 11,719,607,261.52 at the end of the previous year[27]. - The weighted average return on net assets was 1.50%, a decrease of 7.05% compared to 8.55% in the previous year[27]. - The net profit after deducting non-recurring gains and losses was CNY 205,283,094.88, down 75.54% from CNY 839,344,354.11 in the previous year[27]. - The comprehensive gross margin fell from 38.54% in the previous year to 20.44%, a decrease of 18.1 percentage points, indicating a significant decline in profitability[54]. - Cement sales accounted for 91.49% of total revenue, with a year-on-year decrease of 30.86%[68]. Market Conditions - The cement industry experienced a significant downturn, with national cement production dropping by 15% year-on-year to 977 million tons, the lowest level since 2012[40]. - The average price of cement in the national market has been declining, leading to increased inventory levels and challenging operating conditions for the company[40]. - The company faces risks from market changes, industry cycles, and fluctuations in raw material prices, which may affect the execution of its annual production and operation plans[6]. - The company is focusing on cost control and efficiency improvement through lean management and optimizing production processes to mitigate the impact of high costs and declining demand[50]. - The company anticipates uncertainty in achieving its 2022 operational targets due to declining cement demand and rising coal costs[106]. Production and Operations - The company operates three major production bases located in Guangdong and Fujian provinces, strategically positioned close to key markets[40]. - The company has established a comprehensive management model focusing on production, sales, and procurement to optimize operational efficiency[44]. - The company achieved a cement production of 7.67 million tons and sales of 7.29 million tons, representing a year-on-year decline of 26.46% and 27.80% respectively[53]. - The average selling price of cement decreased by 4.24% year-on-year, while the average sales cost increased by 25.78% due to a 53.91% rise in coal procurement prices[54]. - The company is actively developing projects in photovoltaic power generation and solid waste disposal to enhance its green transformation and competitiveness[50]. Investments and Financial Management - Investment activities generated a net cash flow of ¥1,444,835,003.82, a substantial increase of 2,621.09% from -¥57,309,885.28, primarily due to the recovery of funds from financial products[64]. - The company reported a net increase in cash and cash equivalents of ¥192,031,524.24, a rise of 1,206.70% compared to ¥14,695,923.95 in the previous year, mainly due to increased cash flow from investment activities[64]. - The company's long-term equity investments reached ¥532,292,341.83, which is 4.19% of total assets, showing a 0.40% increase from the previous year[79]. - The total investment during the reporting period was ¥15,000,000, a 100% increase compared to the same period last year[87]. - The company invested ¥33,407,061.04 in a distributed photovoltaic power generation and energy storage integration project, with cumulative actual investment reaching ¥92,691,213.63[88]. Environmental Compliance and Initiatives - The company has obtained and renewed various environmental permits, including the national "Pollutant Discharge Permit" valid until 2027 for the Jiaoling branch[128]. - The company maintains compliance with multiple environmental standards, including the "Cement Industry Air Pollutant Emission Standards" (GB4915-2013)[127]. - The company has implemented organized emissions control with specific discharge limits for various pollutants, ensuring no exceedance reported[129]. - The company reported zero emissions for major pollutants including particulate matter, non-methane total hydrocarbons, and hydrogen sulfide, adhering to strict environmental standards[132][139]. - The company has invested in pollution control facilities that operate synchronously with production equipment, ensuring all pollutants meet national and local discharge standards[149]. Social Responsibility - The company is committed to social responsibility initiatives, focusing on rural revitalization and community support in its operational areas[167][168]. - The company donated over 3,300 tons of cement and 17.9815 million yuan in cash for rural revitalization efforts in the first half of 2022[172]. - The company has been recognized for three consecutive years with awards for poverty alleviation efforts, including the "Guangdong Poverty Alleviation Red Cotton Cup Gold Award" and the "Meizhou Poverty Alleviation Gold Award"[172]. - The company actively supports local rural farmers by promoting their products through employee consumption initiatives, enhancing local agricultural income[171].

Financial Performance - The company's revenue for Q1 2022 was CNY 1,254,747,443.68, a decrease of 16.37% compared to CNY 1,500,374,069.17 in the same period last year[5]. - Net profit attributable to shareholders for Q1 2022 was CNY 52,632,460.64, down 85.04% from CNY 351,747,445.64 year-on-year[5]. - The average selling price of cement increased by 10.2% year-on-year, while the average sales cost rose by 26.71%, leading to a decline in gross margin from 32.28% to 23.35%[12]. - Cement production in Q1 2022 was 3.9084 million tons, and sales volume was 3.4845 million tons, representing decreases of 18.75% and 25.39% respectively compared to the previous year[10]. - The company experienced a substantial decline in profit levels due to decreased cement sales and increased costs, influenced by ongoing real estate regulation and adverse weather conditions[12]. - Total operating revenue for the current period was ¥1,254,747,443.68, a decrease of 16.4% compared to ¥1,500,374,069.17 in the previous period[33]. - Net profit for the current period was ¥53,757,443.71, a decline of 84.7% from ¥352,064,312.80 in the previous period[36]. - Earnings per share for the current period was ¥0.05, compared to ¥0.30 in the previous period[36]. - The company's income tax expense decreased by 80.53% to ¥2,132.90 million due to a significant drop in profit levels[13]. Cash Flow and Liquidity - The net cash flow from operating activities was CNY -419,105,239.79, a significant decline of 1,728.63% compared to CNY -22,919,041.92 in the same period last year[5]. - The net cash flow from operating activities decreased significantly by 1,728.64% to -¥41,910.52 million, impacted by a decline in cement demand and high coal prices[16]. - Cash received from operating activities was 1,373,515,989.47, down from 1,693,807,280.97, indicating a decline in operational cash generation[40]. - The cash outflow for operating activities increased to 1,792,621,229.26 from 1,716,726,322.89, reflecting higher operational costs[40]. - The cash and cash equivalents at the end of the period were 1,067,698,635.41, compared to 1,441,937,341.60 in the previous period, showing a decrease in liquidity[43]. Assets and Liabilities - The company's total assets at the end of Q1 2022 were CNY 13,467,514,716.24, a decrease of 2.61% from CNY 13,828,378,610.53 at the end of the previous year[5]. - Total liabilities decreased to ¥1,501,908,175.60 from ¥2,078,052,339.92 at the beginning of the year, a reduction of 27.7%[29]. - The total assets decreased to ¥13,467,514,716.24 from ¥13,828,378,610.53 at the beginning of the year, a decrease of 2.6%[29]. - Current assets decreased from 5,900,529,156.28 RMB to 5,549,908,695.62 RMB, a reduction of about 5.93%[22]. - The total liabilities decreased from 5,900,529,156.28 RMB to 5,549,908,695.62 RMB, indicating a decline of about 5.93%[22]. Investments and Expenses - Research and development expenses rose by 44.79% to ¥2,759.80 million, mainly due to increased labor costs for R&D projects[13]. - Research and development expenses for the current period were ¥2,759,842.20, an increase of 44.9% compared to ¥1,906,131.73 in the previous period[33]. - The company's long-term equity investments slightly decreased from 524,079,667.49 RMB to 521,356,622.73 RMB, a decrease of approximately 0.52%[24]. - The company reported a 296.02% decrease in fair value changes of financial assets, resulting in a loss of ¥12,620.81 million[13]. Other Operating Income - The company’s total revenue from other operating income surged by 1,092.86% to ¥619.45 million, mainly from the sale of carbon emission quotas[13]. - The cash received from other operating activities was 28,531,905.47, an increase from 24,491,030.14, indicating improved cash collection from ancillary operations[40].

Financial Performance - The company achieved a revenue of ¥7,713,401,719.68 in 2021, representing a 9.46% increase compared to ¥7,046,663,031.11 in 2020[26]. - The net profit attributable to shareholders was ¥1,836,324,699.86, a 3.04% increase from ¥1,782,154,742.41 in the previous year[26]. - The company's total operating revenue for 2021 was approximately CNY 7.71 billion, representing a year-on-year increase of 9.46% from CNY 7.05 billion in 2020[84]. - Cement sales accounted for 94.08% of total revenue, amounting to CNY 7.26 billion, with a year-on-year growth of 11.23%[84]. - The company reported a net profit of CNY 46,965.07 million for 2021, an increase of 8.13% compared to CNY 43,433.43 million in 2020, primarily due to a 3.90% increase in cement sales volume[138]. - The company reported a basic earnings per share of ¥1.57, up from ¥1.51 in 2020, marking a 3.97% increase[26]. - The weighted average return on equity was 16.69%, down from 17.62% in 2020[26]. Production and Sales - The company produced 1,997.37 million tons of cement in 2021, a 2.31% increase year-on-year[43]. - Cement sales reached 1,978.89 million tons, reflecting a 2.96% increase compared to the previous year[43]. - The company's cement production volume reached 1,997.37 million tons in 2021, with a capacity utilization rate of 90.79%, a decrease compared to 2020 due to production cuts from energy consumption controls[65]. - Cement sales volume was 1,309.89 million tons, reflecting a year-on-year increase of 4.54%, while the sales gross margin decreased by 2.21% to 38.95% due to rising coal prices[63][65]. - The company's cement inventory increased significantly by 79.43% to 45.97 million tons at the end of the reporting period, attributed to slow demand in the real estate market[63][65]. - The company achieved a cement production volume of 19.97 million tons, up 2.31% year-on-year, and cement sales volume of 19.79 million tons, up 2.96% year-on-year, indicating a slight growth in operating performance[51]. Market Position and Strategy - The company’s market position is strong, with a high market share in the East Guangdong region, supported by its three production bases located close to key markets[53]. - The overall cement industry in China saw a production decline of 1.2% year-on-year, while the company outperformed the industry average[51]. - The company plans to expand its market presence in the Pearl River Delta region, focusing on high-quality projects to enhance brand recognition and market share[146]. - The company aims to leverage the development opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area to strengthen its market position[142]. - The company is actively exploring mergers and acquisitions to strengthen its market position and enhance competitiveness[159]. Risks and Challenges - The company faces risks related to market changes, industry cycles, and raw material price fluctuations, which are detailed in the management discussion section[6]. - The company faces risks from macroeconomic policies, regional market fluctuations, and increasing competition from larger cement enterprises[157]. - The company is currently working on energy-saving projects, including a clinker burning system aimed at reducing emissions and energy consumption[104]. Corporate Governance - The company has established a comprehensive corporate governance system with clear delineation of powers and responsibilities among the shareholders' meeting, supervisory board, board of directors, and management[174]. - The board of directors consists of 7 members, including 3 independent directors, and operates in accordance with relevant regulations[179]. - The supervisory board, comprising 3 members, effectively oversees the performance of senior management and ensures compliance with laws and regulations[180]. - The company maintains complete independence from its controlling shareholder in terms of business operations, personnel management, and financial decisions[187]. - The company emphasizes investor relations management, ensuring equal treatment of all investors and transparent information disclosure[186]. Investments and Financial Management - The company reported an investment income of ¥267,605,357.20, accounting for 11.05% of total profit[112]. - The company made investments amounting to CNY 116,382,649.24 during the reporting period, representing a 1,063.83% increase compared to CNY 10,000,000.00 in the same period last year[120]. - The company has CNY 33,936,762.71 in restricted cash, designated for environmental governance[119]. - The cumulative actual investment in the Wufu 10,000-ton line project reached CNY 3,454,461,912.58, with a project progress of 100.01%[120]. Future Outlook - For 2022, the company aims to produce 1,491 million tons of clinker and 2,080 million tons of cement, targeting a net profit of 1.9 billion yuan before incentive bonuses[154]. - The cement industry is expected to remain stable in 2022, with infrastructure investment anticipated to drive demand recovery due to government policies aimed at stabilizing growth[148]. - The company plans to enhance its core cement business while exploring new industries, including photovoltaic power generation and collaborative waste disposal projects[154]. Environmental and Social Responsibility - The company is committed to achieving carbon peak and carbon neutrality goals, focusing on energy-saving measures and increasing the use of clean energy[159]. - The company is actively developing its renewable energy sector, including solar power and waste heat recovery projects, to enhance energy efficiency[168].

Financial Performance - The company's operating revenue for Q3 2021 was ¥1,608,172,171.05, a decrease of 14.29% compared to the same period last year[4]. - Net profit attributable to shareholders for Q3 2021 was ¥397,771,526.48, down 13.32% year-on-year[4]. - The net profit after deducting non-recurring gains and losses was ¥303,884,161.87, a decline of 27.87% compared to the previous year[4]. - The company's weighted average return on equity was 3.60%, a decrease of 0.96% compared to the previous year[4]. - The company reported a comprehensive gross profit margin of 36.80%, down 6.06 percentage points year-on-year[12]. - Total operating revenue for the third quarter of 2021 reached ¥5,241,732,532.63, an increase from ¥4,675,484,332.79 in the same period of 2020, representing a growth of approximately 12.1%[34]. - Net profit for the third quarter of 2021 was ¥1,313,197,305.71, compared to ¥1,378,491,803.60 in the previous year, indicating a decrease of approximately 4.7%[36]. - The total comprehensive income for the period was approximately ¥1.316 billion, a decrease of 4.5% compared to ¥1.379 billion in the previous period[41]. - Basic and diluted earnings per share were both ¥1.1177, down from ¥1.1669 in the previous period, reflecting a decrease of 4.4%[41]. Cash Flow - The net cash flow from operating activities for the year-to-date was ¥1,055,608,344.57, down 23.29% year-on-year[4]. - The net cash flow from operating activities decreased by 23.29% to ¥105,560.83 million compared to the same period last year, primarily due to a decline in profit levels and increased inventory costs from high coal prices[17]. - Cash inflows from operating activities totaled approximately ¥5.965 billion, an increase of 9.3% from ¥5.453 billion in the previous period[46]. - The net cash flow from operating activities was approximately ¥1.056 billion, down 23.4% from ¥1.376 billion in the previous period[46]. - Cash inflows from investment activities were approximately ¥18.166 billion, a decrease of 16.9% compared to ¥21.618 billion in the previous period[46]. - The net cash flow from investment activities was approximately -¥629.84 million, worsening from -¥446.88 million in the previous period[46]. - Cash inflows from financing activities were approximately ¥126.11 million, an increase of 23.4% from ¥102.25 million in the previous period[49]. - The net cash flow from financing activities improved by 39.15% to -¥66,035.52 million, primarily due to a reduction in cash dividends[17]. - The net cash flow from financing activities was approximately -¥660.36 million, an improvement from -¥1.085 billion in the previous period[49]. Assets and Liabilities - The company's total assets as of September 30, 2021, were ¥12,937,671,263.83, reflecting a 2.59% increase from the end of the previous year[4]. - The company's total assets as of September 30, 2021, amounted to ¥12,937,671,263.83, up from ¥12,610,528,058.63 at the end of 2020, marking an increase of about 2.6%[33]. - Total liabilities decreased to ¥1,713,321,547.54 from ¥2,154,964,461.13, a reduction of approximately 20.4% year-over-year[30]. - The company's equity attributable to shareholders increased to ¥11,213,987,407.78 from ¥10,446,062,875.63, reflecting a growth of about 7.4%[33]. - The company's cash and cash equivalents decreased to ¥1,478,547,708.39 from ¥2,025,455,496.15 at the end of the previous year, reflecting a significant reduction in liquidity[24]. - The company's cash and cash equivalents decreased to ¥370,342,051.31 from ¥616,179,194.33, a decline of about 40.0% year-over-year[30]. - The total non-current assets as of September 30, 2021, were ¥7,767,049,122.54, an increase from ¥6,653,450,464.17, representing a growth of approximately 16.7%[33]. Production and Costs - The average selling price of cement decreased by 4.17% year-on-year, while the average selling cost increased by 6.58%[12]. - The cement production volume for the first nine months of 2021 was 14.79 million tons, an increase of 15.53% year-on-year[12]. - Total operating costs increased to ¥3,736,644,157.20 from ¥3,027,137,982.40, reflecting a rise of about 23.4% year-over-year[34]. - The company's inventory increased significantly to ¥807,568,200.05 from ¥572,253,866.07, indicating a rise in stock levels[24]. Other Income and Expenses - Non-recurring gains totaled ¥93,887,364.61 for Q3 2021, with significant contributions from securities investment income[7]. - The fair value change income increased by 461.40% to ¥6,068.33 million, attributed to changes in the fair value of trading financial assets[16]. - The operating income from non-operating activities rose by 85.23% to ¥257.54 million, mainly due to gains from the sale of surplus energy rights[16]. - The disposal income from assets increased by 189.57% to ¥3.09 million, reflecting higher gains from the disposal of fixed assets[16]. - Research and development expenses for the third quarter were ¥6,492,476.12, compared to ¥5,448,065.02 in the same period last year, representing an increase of approximately 19.1%[37]. - The company reported an investment income of ¥190,427,522.61, down from ¥216,212,167.06 in the previous year, indicating a decline of about 11.9%[37].

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 3,633,560,361.58, representing a 29.80% increase compared to CNY 2,799,248,440.31 in the same period last year[27]. - The net profit attributable to shareholders of the listed company was CNY 914,607,233.19, a slight decrease of 0.46% from CNY 918,852,164.62 in the previous year[27]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 839,344,354.11, which is a 1.24% increase from CNY 829,077,017.59 year-on-year[27]. - The net cash flow from operating activities was CNY 717,361,438.40, showing a significant increase of 32.67% compared to CNY 540,693,964.97 in the previous year[27]. - The total assets at the end of the reporting period were CNY 12,446,223,738.27, a decrease of 1.30% from CNY 12,610,528,058.63 at the end of the previous year[27]. - The net assets attributable to shareholders of the listed company increased by 3.35% to CNY 10,795,889,227.57 from CNY 10,446,062,875.63 at the end of the previous year[27]. - The basic earnings per share for the reporting period was CNY 0.7785, a slight decrease of 0.03% from CNY 0.7787 in the previous year[27]. - The diluted earnings per share also stood at CNY 0.7785, reflecting a decrease of 0.03% compared to CNY 0.7787 last year[27]. - The weighted average return on equity was 8.55%, down from 9.17% in the previous year, indicating a decline of 0.62%[27]. Industry Overview - The cement industry in China saw a total production of 1.147 billion tons in the first half of the year, representing a year-on-year increase of 14.1%[38]. - The overall cement profit margin in the industry decreased by 7.2% year-on-year, despite high production levels[38]. Production and Sales - The company achieved a sales revenue of ¥4.836 billion in the first half of the year, reflecting a year-on-year growth of 13.2%[38]. - In the first half of the year, the company achieved a cement production of 10.44 million tons and sales of 10.09 million tons, representing year-on-year growth of 41.36% and 49.39% respectively[48]. - The company's cement production capacity stands at 22 million tons annually, with a clinker capacity of 14.73 million tons, ranking 16th in the industry[43]. - The average selling price of cement decreased by 12.13% year-on-year, while the average selling cost increased by 3.06%, leading to a decline in the overall gross margin from 47.27% to 38.54%, a drop of 8.73 percentage points[49]. Strategic Initiatives - The company plans not to distribute cash dividends or issue bonus shares, nor to increase capital from reserves[6]. - The company plans to continue focusing on expanding its market presence and enhancing its product offerings in response to the increased demand for cement and related products[59]. - The company aims to improve the efficiency of its concrete business by optimizing the layout of concrete mixing stations and reducing costs[102]. - The company is actively responding to carbon peak and carbon neutrality policies by exploring new energy-saving measures and increasing the use of clean energy[102]. Environmental Compliance - The company has complied with various environmental protection laws and standards, including the Environmental Protection Law and the Air Pollution Prevention Law[122]. - The company reported a total nitrogen oxide emission of 1,021.95 tons, which is below the approved limit of 2,232 tons per year[129]. - The sulfur dioxide emissions from the company were recorded at 148.63 tons, significantly lower than the approved limit of 475.34 tons per year[129]. - The company effectively managed particulate matter emissions, with a total of 42.49 tons reported, adhering to the standard of <20mg/m³[129]. - The company has implemented advanced pollution control technologies, including low nitrogen burners and selective non-catalytic reduction (SNCR) processes to reduce nitrogen oxide concentrations[133]. - All pollution control facilities operated effectively during the reporting period, meeting national and local emission standards without any environmental issues or government penalties[130]. Investments and Financial Management - The company reported a total of 357,114.86 million CNY in entrusted financial management, with an outstanding balance of 180,302.51 million CNY[178]. - The company engaged in a financial service transaction with Meizhou Merchant Bank, with a transaction amount of 70,168.19 million CNY, accounting for 40.58% of similar transactions[165]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[156]. - The company has not experienced any violations regarding external guarantees during the reporting period[157]. Employee Stock Ownership Plans - The first phase of the employee stock ownership plan was approved, with funding sourced from the net incentive bonus of 2018[109]. - The first employee stock ownership plan held 6,672,126 shares, accounting for 0.56% of the total share capital as of the report date[111]. - The second employee stock ownership plan held 19,004,900 shares, representing 1.59% of the total share capital as of the report date[113]. - The third employee stock ownership plan held 20,605,400 shares, which is 1.73% of the total share capital as of the report date[114]. - The second employee stock ownership plan has a basic duration of 60 months, from July 28, 2020, to July 27, 2025[112]. - The third employee stock ownership plan has a basic duration of 60 months, from April 9, 2021, to April 8, 2026[114]. - The fourth employee stock ownership plan is pending implementation based on the 2021 annual performance, indicating uncertainty[118]. Community Engagement - The company donated a total of 35.2689 million yuan for poverty alleviation and rural revitalization efforts in the first half of 2021[149].

Financial Performance - The company's operating revenue for Q1 2021 was CNY 1,500,374,069.17, representing a 51.38% increase compared to CNY 991,154,033.07 in the same period last year[9]. - Net profit attributable to shareholders was CNY 351,747,445.64, an increase of 8.75% from CNY 323,434,077.12 year-on-year[9]. - The net profit after deducting non-recurring gains and losses was CNY 266,261,944.75, showing a decrease of 19.61% compared to CNY 331,198,519.33 in the previous year[9]. - Basic and diluted earnings per share were both CNY 0.3004, reflecting a 9.76% increase from CNY 0.2737[9]. - The average selling price of cement decreased by 33.65% compared to the same period last year, leading to a decline in gross margin from 53.56% to 32.28%, a drop of 21.28 percentage points[22]. - The company's operating costs rose by 120.75% to RMB 1.0160269 billion, primarily due to the significant increase in cement sales volume[26]. - The company reported a significant increase in research and development expenses to CNY 1,906,131.73, up from CNY 1,248,139.15, indicating a commitment to innovation[112]. - The company's net profit for Q1 2021 was not explicitly stated, but the increase in revenue and costs indicates a focus on growth despite rising expenses[112]. Cash Flow - The net cash flow from operating activities was CNY -22,919,041.92, an improvement of 83.20% from CNY -136,444,942.15 in the same period last year[9]. - Cash received from sales and services increased to ¥166,931.63 million, a 51.54% increase compared to ¥110,156.05 million in the same period last year[30]. - Cash paid for goods and services rose to ¥110,419.68 million, reflecting a 36.78% increase from ¥80,727.05 million year-over-year[30]. - Cash inflows from operating activities for the current period is 1,669,316,250.83, compared to 1,101,560,483.02 in the previous period, representing an increase of approximately 51.6%[120]. - Operating cash inflows totaled CNY 1,693,807,280.97, an increase of 52% compared to CNY 1,113,395,812.20 in the previous period[124]. - Operating cash outflows amounted to CNY 1,716,726,322.89, up from CNY 1,249,840,754.35, resulting in a net cash flow from operating activities of CNY -22,919,041.92, an improvement from CNY -136,444,942.15[124]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 12,424,250,522.98, a decrease of 1.48% from CNY 12,610,528,058.63 at the end of the previous year[9]. - Total liabilities decreased to CNY 1,677,168,663.98 from CNY 2,154,964,461.13, a reduction of about 22%[96]. - The company's equity attributable to shareholders rose to CNY 10,737,254,481.88 from CNY 10,446,062,875.63, an increase of approximately 2.8%[101]. - The company's cash and cash equivalents were CNY 1,790,668,457.52, down from CNY 2,025,455,496.15 at the end of 2020, reflecting a decrease of approximately 11.5%[92]. - The total current assets decreased to CNY 5,300,445,588.36 from CNY 5,957,077,594.46, indicating a decline of about 11%[92]. Shareholder Information - The company reported a total of 82,499 common shareholders at the end of the reporting period[13]. - The top three shareholders held a combined 33.10% of the company's shares, with the largest shareholder holding 16.61%[13]. - The company has not engaged in any repurchase agreements for its top shareholders during the reporting period[17]. Investment Activities - The company has engaged in various entrusted financial management products, including broker and bank financial products[48]. - The total amount of entrusted financial management was CNY 341,644.02 million, with an unexpired balance of CNY 217,190.27 million[48]. - The company has a total of 10,000 million invested in a non-principal floating income trust product, with an expected annualized return of 4.90%, projecting earnings of 485.97 million[67]. - The company has initiated multiple trust plans with a focus on real estate and fixed-income products, indicating a strategy to diversify investment sources[76]. - The expected income from the trust projects is projected to be 80.31 million for the Yuru 1 collective fund trust plan[76]. Future Outlook - The company plans to continue expanding its market presence and enhancing its product offerings in the upcoming quarters[22]. - Future trust plans are anticipated, indicating ongoing investment opportunities and strategies for capital growth[61]. - The cumulative net profit forecast for the year may indicate a significant change compared to the same period last year[45].

Financial Performance - The company's operating revenue for 2020 was ¥7,046,663,031.11, representing a year-over-year increase of 2.26% from ¥6,890,702,383.14 in 2019[25]. - The net profit attributable to shareholders for 2020 was ¥1,782,154,742.41, which is a 2.81% increase compared to ¥1,733,479,230.94 in 2019[25]. - The net profit after deducting non-recurring gains and losses was ¥1,630,792,041.81, reflecting a 9.38% increase from ¥1,490,956,415.93 in 2019[25]. - The net cash flow from operating activities for 2020 was ¥2,419,137,202.21, up 16.43% from ¥2,077,724,552.45 in 2019[25]. - The total assets at the end of 2020 were ¥12,610,528,058.63, a 7.31% increase from ¥11,752,022,732.06 at the end of 2019[25]. - The net assets attributable to shareholders at the end of 2020 were ¥10,446,062,875.63, which is a 6.78% increase from ¥9,782,622,540.69 at the end of 2019[25]. - The company's total revenue for 2020 was approximately 7.05 billion yuan, representing a year-on-year increase of 2.26%[83]. - Revenue reached 7.05 billion yuan, an increase of 2.26% year-on-year, while net profit attributable to shareholders was 1.78 billion yuan, up 2.81% from the previous year[58]. Dividend Distribution - The company plans to distribute a cash dividend of 4.30 RMB per 10 shares (including tax) to all shareholders, based on a total share capital of 1,192,275,016 shares, excluding repurchased shares[6]. - The company reported a cash dividend of 3.20 CNY per 10 shares for the first half of 2020, amounting to around 380.29 million CNY[173]. - For the fiscal year 2019, the company distributed a cash dividend of 5.50 CNY per 10 shares, totaling approximately 648.14 million CNY[174]. - The company has maintained its profit distribution policy without adjustments during the reporting period[170]. - The cash dividends for 2019 amounted to 1,005,827,330.15 CNY, representing 58.02% of the net profit for that year[180]. - The company has maintained a consistent dividend policy, with cash dividends over the past three years averaging around 58% of net profits[180]. - The cash dividend distribution plan was approved and is expected to be implemented after the 2020 annual general meeting[185]. - The company did not propose any stock dividends or capital reserve transfers for the current period, focusing instead on cash dividends to shareholders[181]. - The company has committed to ensuring that cash dividends represent at least 40% of profit distribution in line with its mature development stage and significant capital expenditure plans[181]. Operational Capacity and Production - The company added 4 million tons of cement production capacity with the completion of the second phase of the Wenfu 10,000-ton line project during the reporting period, bringing total capacity to 22 million tons[36]. - The company's cement production capacity is 22 million tons, with a clinker capacity of 14.73 million tons, ranking 14th nationally[44]. - The company achieved cement production of 19.52 million tons, a year-on-year increase of 1.24%, and cement sales of 19.22 million tons, a slight decrease of 0.88% compared to the previous year[58]. - The company’s concrete sales from wholly-owned and controlled mixing stations reached 639,500 cubic meters, an increase of 10.60% year-on-year[59]. - The company’s clinker capacity reached 14.73 million tons, ranking 14th in the industry, while total cement capacity was 22 million tons[68]. - The company’s cement production volume for 2020 was 1,952.32 million tons, with a year-on-year increase of 1.24%[86]. - Cement sales volume decreased by 0.88% year-on-year to 1,921.95 million tons[86]. Market Position and Strategy - The company operates several wholly-owned subsidiaries, including Huashan Cement and Hengtai Cement, which contribute to its market presence[11]. - The company operates four brands: "Tapai," "Jiaying," "Yuetai," and "Hengtai," with a strong presence in the Guangdong-Hong Kong-Macao Greater Bay Area[38]. - The company maintains a multi-channel sales network, combining both distribution and direct sales models to enhance market reach[38]. - The company's market share in the East Guangdong region is relatively high, benefiting from strong local demand for cement[39]. - The company is positioned as one of the largest and most competitive cement enterprises in Guangdong, benefiting from geographical advantages and proximity to markets[68]. - The company plans to explore new industries and promote the development of projects related to solid waste disposal and health industries[61]. - The company aims to integrate and enhance its concrete industry while exploring and rapidly developing emerging industries, implementing a dual-driven strategy of traditional and new industries[152]. Risks and Challenges - The company reported no significant risks affecting its operations during the reporting period, although it acknowledged potential risks related to market changes, industry cycles, and raw material price fluctuations[6]. - The company faces risks related to macroeconomic policies, regional market dynamics, and increasing competition from larger cement enterprises[157]. - The 2021 operational plan is subject to uncertainties influenced by market conditions, cement prices, and coal prices[158]. Research and Development - The company's research and development expenses increased by 35.27% in 2020, amounting to ¥8,368,226.11, compared to ¥6,186,432.48 in 2019[102]. - The number of R&D personnel increased by 32.08% to 70 in 2020, up from 53 in 2019, with R&D personnel accounting for 2.61% of the total workforce[104]. - The company has a strong focus on technological innovation, collaborating with universities to improve production processes[53]. Environmental and Efficiency Initiatives - The company actively responded to national environmental policies by implementing various environmental and efficiency improvement projects, achieving operational metrics that meet or exceed industry standards[67]. - The company has invested in green cement mining and smart cement plant construction to enhance operational efficiency[56]. Financial Management and Accounting - The company emphasizes the importance of accurate and complete financial reporting, with management affirming the integrity of the annual report[5]. - The company has engaged Lixin Certified Public Accountants for its auditing needs, ensuring compliance and accuracy in financial reporting[21]. - The company did not face any major litigation or arbitration matters during the reporting period[200]. - The company did not experience any non-operating fund occupation by controlling shareholders or related parties[194]. - The company reported no significant accounting errors requiring restatement during the reporting period[194].

Financial Performance - Operating revenue for the period was ¥1,876,235,892.48, representing a year-on-year increase of 19.34%[9] - Net profit attributable to shareholders was ¥458,898,459.43, up 30.15% year-on-year[9] - Net profit excluding non-recurring gains and losses was ¥421,295,980.31, reflecting a 31.39% increase compared to the same period last year[9] - Basic earnings per share were ¥0.3882, an increase of 31.28% compared to the same period last year[9] - The weighted average return on net assets was 4.56%, an increase of 0.76% year-on-year[9] - The company reported a net profit attributable to the parent company increased by 30.82% to CNY 1.38 billion, driven by a 30.81% increase in total profit[26] - The net profit for the current period was CNY 1,378,491,803.60, compared to CNY 1,053,961,828.49 in the previous period, reflecting an increase of about 30.8%[155] - The total profit for the current period amounted to CNY 1,832,575,415.16, up from CNY 1,400,932,858.19 in the previous period, indicating a growth of approximately 30.8%[155] Cash Flow - Net cash flow from operating activities was ¥835,435,382.06, a significant increase of 78.14% year-on-year[9] - The net cash flow from operating activities for the first nine months of 2020 was CNY 1.38 billion, an increase of 83.46% year-on-year[26] - Net cash flow from operating activities was ¥1,376,129,347.03, significantly up from ¥750,098,244.44 in the prior period, marking an increase of 83.33%[169] - Cash inflow from sales of goods and services was ¥5,412,276,426.75, up from ¥5,098,853,854.43, reflecting a growth of 6.20%[166] Assets and Liabilities - Total assets at the end of the reporting period reached ¥11,982,463,140.02, an increase of 1.96% compared to the previous year[9] - The total liabilities decreased to CNY 1,814,432,883.79 from CNY 1,959,929,993.65, reflecting a reduction of about 7.39%[127] - The company's current assets totaled CNY 5,451,759,076.49, up from CNY 5,283,019,332.28 at the end of 2019, indicating an increase of about 3.19%[121] - The company's total equity as of January 1, 2020, was CNY 9,792,092,738.41, unchanged from December 31, 2019[183] Investment Activities - The company reported a total investment in securities of 1,983,472,834.36 yuan, with a fair value change loss of 22,412,701.25 yuan during the reporting period[38] - The company has engaged in multiple wealth management products with Shanghai Pudong Development Bank, totaling amounts of 15,000, 10,000, 10,000, 10,000, 9,000, 5,000, and 10,000 million CNY, with varying expected annual returns between 3.15% and 3.75%[48] - The expected returns from these products include 292.19 million CNY, 187.5 million CNY, 242.06 million CNY, 212.41 million CNY, 153 million CNY, 83.75 million CNY, and 86.67 million CNY, indicating a consistent performance across different investments[48] - The company has confirmed that all investments have undergone legal procedures, ensuring compliance and risk management[50] Shareholder Information - The company reported a total of 65,921 shareholders at the end of the reporting period[14] - The top three shareholders held a combined 34.10% of the company's shares, with the largest shareholder holding 16.61%[14] Market and Production - In the first nine months of 2020, the company achieved a cement production of 12.80 million tons and sales of 12.22 million tons, representing a year-on-year decrease of 5.34% and 7.04% respectively[22] - The average selling price of cement increased by 10.11% year-on-year, while the sales cost decreased by 5.68%, leading to a gross margin increase from 33.91% to 42.86%, a rise of 8.95 percentage points[22] - The company is actively engaging in market expansion discussions, focusing on the cement price trends and market demand structure for the second half of 2020[118] Compliance and Governance - The company has confirmed that there are no expected recoverable principal issues or other potential impairment situations[112] - The company has no violations regarding external guarantees during the reporting period[115] - There are no non-operating fund occupations by controlling shareholders or their related parties during the reporting period[116] Research and Development - Research and development expenses rose to ¥2,529,708.67, compared to ¥1,721,789.07 in the previous year, an increase of 47.0%[141] - The research and development expenses for the current period were CNY 5,448,065.02, slightly up from CNY 5,098,366.72 in the previous period, showing a growth of approximately 6.9%[155] Financial Reporting - The third quarter report has not been audited[193] - The company implemented new revenue and lease standards starting from 2020, with retrospective adjustments to prior comparative data[194] - The legal representative of the company is He Kunhuang[194]