Corporate Structure and Governance - The total number of issued shares of China Resources Cement Holdings Limited is 6,982,937,817, with China Resources Group holding approximately 68.72% of the issued shares[4]. - The company was re-listed on the main board of the Stock Exchange on October 6, 2009, by way of a global offering[4]. - The company was privatized in 2006 and subsequently withdrew its shares from the Stock Exchange on July 26, 2006[4]. - The company was incorporated in the Cayman Islands on March 13, 2003, as an exempted company with limited liability[3]. - The company serves as the holding company for all cement and concrete operations of the China Resources Group[3]. - The company has a registered office in Grand Cayman and a principal place of business in Hong Kong[17]. - Ernst & Young serves as the independent auditor for the company[16]. - The company has established various committees, including the remuneration committee and nomination committee, to enhance corporate governance[9][13]. - The company’s official website for corporate communications is www.irasia.com/listco/hk/crcement/index.htm[17]. Operational Capacity and Production - China Resources Cement Holdings Limited is the largest cement, clinker, and concrete producer in Southern China, with operations covering limestone excavation and production, sale, and distribution of cement, clinker, and concrete[27]. - As of December 31, 2018, the company operated 95 cement grinding lines and 45 clinker production lines, with an annual production capacity of 83.3 million tons of cement and 61.3 million tons of clinker[28]. - The company owns 60 concrete batching plants with an annual production capacity of 36.3 million cubic meters of concrete[28]. - The company owns a total of 79 cement grinding lines, 30 clinker production lines, and 20 concrete batching plants, with total annual production capacities of 60.3 million tons of cement, 35.6 million tons of clinker, and 9.5 million m³ of concrete[30]. - The attributable annual production capacities to the company from its associates and joint ventures are 20.8 million tons of cement, 11.6 million tons of clinker, and 4.4 million m³ of concrete[31]. Financial Performance - The company reported a turnover of HK$38,791.5 million for 2018, an increase of 29.4% from HK$29,958.4 million in 2017[46]. - EBITDA for 2018 was HK$13,729.7 million, up from HK$7,433.3 million in 2017, reflecting a significant growth in operational efficiency[46]. - The profit for the year reached HK$8,006.7 million, representing a 122.5% increase compared to HK$3,592.6 million in 2017[46]. - Profit attributable to owners of the company was HK$7,975.4 million, a substantial rise from HK$3,616.7 million in the previous year[46]. - Basic earnings per share increased to HK$1.179 in 2018, compared to HK$0.554 in 2017, indicating strong profitability growth[46]. - The consolidated turnover for the year ended December 31, 2018, amounted to HK$38,791.5 million, representing an increase of 29.5% compared to the previous year[50]. - The consolidated profit attributable to owners of the Company for the year ended December 31, 2018, was HK$7,975.4 million, reflecting a significant increase of 120.5% year-on-year[52]. - Basic earnings per share for the year was HK$1.179, indicating strong profitability growth[52]. Market and Industry Trends - The overall economic environment in China showed a GDP growth of 6.6% in 2018, supporting the Company's market outlook[56]. - In 2018, China's national infrastructure investments increased by 3.8% year-over-year, with total investments in highways and waterways amounting to approximately RMB2.3 trillion and railway investments at RMB802.8 billion[59]. - The total cement production in China reached approximately 2,180 million tons in 2018, representing a 3.0% increase compared to the previous year[63]. - Real estate investment in China amounted to RMB12.0 trillion in 2018, reflecting a 9.5% increase year-over-year, while the floor space of commodity housing sold increased by 1.3% to 1,720 million m²[61]. - The operational length of newly built and re-built rural roads increased by 9.8% to 318,000 km in 2018, supporting cement demand[63]. - The urbanization rate in China reached 59.58% at the end of 2018, an increase of 1.06 percentage points from the end of 2017, which supports cement demand[63]. Environmental and Sustainability Initiatives - The company has a strong commitment to environmental, health, and safety (EHS) standards in its operations[23]. - The company emphasizes corporate social responsibility, equipping all clinker production lines with residual heat recovery generators to reduce energy consumption[30]. - Emission levels of nitrogen oxide, particulate matter, and sulfur dioxide from the company's operations comply with national standards[31]. - The company actively engages in co-processing municipal solid waste, urban sludge, and hazardous industrial waste using cement kilns[30]. - The company is focused on the research, development, and application of new products, new materials, and new technologies to promote environmental protection and sustainable development[31]. - The Group is committed to green development and actively supports national energy-saving and emission reduction policies[77]. - The Group promotes the co-processing of municipal solid waste and hazardous industrial waste using cement kilns[77]. - The Group's pollutant emission levels from all production lines meet or exceed national and local standards[171]. - The Group implements a star-rating management appraisal system to enhance environmental, health, and safety management standards[173]. Strategic Development and Future Plans - The company is exploring new strategies for market expansion and potential mergers and acquisitions to strengthen its competitive position[24]. - The company aims to leverage its logistics network to improve distribution efficiency and reduce operational costs[27]. - The Group aims to enhance operational quality and efficiency while focusing on innovation-driven development and maintaining the lowest total costs during the "Thirteenth Five-Year" period[89]. - The Group plans to actively pursue opportunities in the Greater Bay Area and prefabricated construction industry while promoting sustainable development in the cement industry[89]. - The Group is exploring opportunities to develop the aggregate business to achieve integrated business development and consolidate its core competitive advantage[120]. Employee and Workforce Management - As of December 31, 2018, the Group employed a total of 20,301 full-time employees, a decrease from 20,592 as of December 31, 2017, representing a reduction of approximately 1.4%[199]. - The employee attrition rate improved to 6.4% as of December 31, 2018, down from 7.8% in the previous year[199]. - The breakdown of employees by function as of December 31, 2018, includes 393 in management, 2,648 in finance and administration, 11,753 in production, 4,618 in technical roles, and 889 in sales and marketing[197]. - The Group maintains that employees are its most valuable resource and emphasizes the provision of career development opportunities[198].
华润水泥控股(01313) - 2018 - 年度财报