Financial Performance - The company reported a net loss attributable to owners of approximately RMB 458,998,000 for the nine months ended September 30, 2024[1] - Revenue for the nine months ended September 30, 2024, was RMB 4,118,612,000, a decrease from RMB 5,715,769,000 in the same period of 2023[2] - Gross profit for the nine months ended September 30, 2024, was RMB 224,885,000, significantly lower than RMB 845,754,000 in the same period of 2023[2] - The company's total assets as of September 30, 2024, were RMB 17,397,195,000, compared to RMB 18,065,333,000 as of December 31, 2023[3] - Cash and cash equivalents decreased by RMB 564,919,000 to RMB 8,691,630,000 as of September 30, 2024, from RMB 9,256,549,000 at the beginning of the year[4] - The company's net asset value as of September 30, 2024, was RMB 16,678,451,000, down from RMB 17,206,801,000 as of December 31, 2023[4] - The company did not recommend paying dividends for the first nine months of 2024, consistent with the same period in 2023[5] Economic Indicators - 2024 Q3 GDP reached 3,329.1 billion yuan, a year-on-year increase of 4.6%, with the first three quarters GDP totaling 9,497.46 billion yuan, up 4.8% year-on-year[7] - National fixed asset investment grew by 3.4% year-on-year in the first nine months, with infrastructure investment up 4.1% and manufacturing investment up 9.2%[7] - National real estate development investment fell by 10.1% year-on-year in the first nine months, while industrial added value increased by 5.8%[7] - National cement production in the first nine months was 1.327 billion tons, down 10.7% year-on-year, with September production hitting the lowest level since 2010[7] Cement Market Trends - In the Yangtze River mid-downstream market, cement prices increased by 90 yuan/ton in September, with downstream markets seeing a one-time price hike of 100 yuan/ton for clinker and cement[8] - In the Sichuan region, cement prices dropped by 90 yuan/ton in July and August but rebounded with two price increases totaling 90 yuan/ton in September, followed by another 50 yuan/ton hike in mid-October[9] - The company expects a moderate recovery in cement demand in Q4, with price increases from Q3 likely to be maintained through the end of the year[12] Company Strategy and Outlook - The company will continue to focus on high efficiency, quality, service, and environmental protection, leveraging its logistics advantages to maintain market share[12] - The company anticipates a short-term continuation of the real estate market's bottoming-out phase, despite recent policy support aimed at stabilizing the sector[11] Board and Management - Mr. Lui has over 10 years of experience in the company secretary field and has been working at Tricor since October 2011[14] - Mr. Lui holds a Bachelor's degree in Economics and Statistics from University College London, obtained in August 2011[14] - Mr. Lui is a Fellow of both the Hong Kong Chartered Governance Institute (HKCGI) and the Chartered Governance Institute UK & Ireland[14] - The Board of Directors expressed gratitude to Ms. Mok for her contributions and welcomed Mr. Lui's appointment[15] - The current executive directors of the company are Mr. Xu Xuping, Mr. Zhang Zhenkun, and Mr. Lin Shengzhang[15] - The non-executive directors include Mr. Xu Xudong (Chairman), Mr. Li Kunyan, Mr. Chen Ruilong, and Ms. Wu Lingling[15] - The independent non-executive directors are Mr. Zhan Delong, Mr. Wang Wei, and Dr. Wang Guoming[15]
亚洲水泥(中国)(00743) - 2024 Q3 - 季度业绩