Company Overview - 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, after being privatized in 2006[3]. - The registered office is located in the Cayman Islands, while the principal place of business is in Hong Kong[10]. - The company operates as the holding entity for all cement and concrete operations of China Resources Group, emphasizing its strategic importance in the construction materials sector[3]. - The company has a dedicated investor relations consultant to manage communications with stakeholders[10]. Financial Performance - For the six months ended June 30, 2023, the Group reported a turnover of HK$12,172.6 million, a decrease of 24.5% compared to the same period last year[26][30]. - The profit attributable to owners of the Company for the same period was HK$620.9 million, down 65.6% year-on-year, with basic earnings per share of HK$0.089[26][30]. - The consolidated turnover for the first half of 2023 amounted to HK$12,172.6 million, representing a decrease of 24.5% from HK$16,116.5 million in the same period last year[123]. - Gross profit for the period was HK$1,902,495, down 42.4% from HK$3,302,684 in the previous year[182]. - Basic earnings per share decreased to HK$0.089, down 65.5% from HK$0.258 in the same period last year[182]. Production Capacity and Operations - As of June 30, 2023, the Group operates 101 cement grinding lines with an annual production capacity of 90.1 million tons and 49 clinker production lines with a capacity of 63.6 million tons[16]. - The Group has 63 concrete batching plants with an annual production capacity of 38.5 million cubic meters[16]. - The Group's total annual production capacities include 64.7 million tons of cement, 37.0 million tons of clinker, and 8.5 million m³ of concrete, with attributable capacities of 22.3 million tons of cement, 12.1 million tons of clinker, and 3.9 million m³ of concrete[19][20]. - The Group's facilities are supported by a well-established logistics network including waterways, railways, and roads[15]. - The Group's business includes limestone excavation, cement, clinker, and concrete production, sales, and distribution[15]. Market and Economic Context - In the first half of 2023, China's GDP grew by 5.5% year-on-year to RMB59.3 trillion, with national fixed asset investment increasing by 3.8% to RMB24.3 trillion[39]. - Infrastructure investment in China rose by 7.2% year-on-year in the first half of 2023, with road and waterway investments growing by 9.8%[41]. - The real estate market showed signs of stabilization, with total sales area decreasing by 5.3% to 600 million square meters, while sales revenue increased by 1.1% to RMB6.3 trillion[41]. Corporate Governance - The report outlines the company's corporate governance structure, including various committees such as the Audit Committee and Risk and Compliance Committee[9]. - The interim report for the six months ended June 30, 2023, was reviewed by the Audit Committee[180]. Environmental and Social Responsibility - The Group's emission concentrations of nitrogen oxides, particulate matters, and sulphur dioxide are better than national pollutant emission standards, reflecting its commitment to corporate social responsibility[20][21]. - The Group is committed to promoting green and low-carbon transformation in line with national policies to achieve carbon peaking and neutrality goals[53]. - The Chinese government emphasized the importance of production safety and occupational health to ensure sustainable development in the building materials industry[53]. Strategic Initiatives - The company is focused on expanding its market presence and enhancing operational efficiencies through strategic initiatives[6]. - The Group is actively enhancing research and development of new products, materials, and technologies to seize new business opportunities and promote sustainable development[20][21]. - The Group's strategic focus includes digital transformation, innovation in research and development, and enhancing operational efficiency and quality[75]. Dividends and Shareholder Information - The Group plans to distribute an interim dividend of HK$0.041 per share, totaling approximately HK$286.3 million, compared to HK$838 million in the previous year[30]. - No shares were repurchased, sold, or redeemed by the company or its subsidiaries during the reporting period[180]. Financial Management and Liabilities - The Group had net current liabilities of HK$1,836.8 million as of June 30, 2023, but is confident in meeting its financial obligations due to sufficient cash reserves and available banking facilities[153]. - Bank loans amounted to HK$19,183.2 million as of June 30, 2023, compared to HK$15,836.6 million at the end of 2022[144]. - The Group adopts robust treasury policies, with centralized management of financing and investment activities to ensure liquidity needs are met[150]. Research and Development - The Group's research and development team consists of 329 technology talents, including 66 dedicated R&D personnel and 68 specialists in intelligentization and digitalization[115]. - The Group actively engaged in research on new materials such as silicon-based materials and perovskite solar cells to support technological transformation[117]. Awards and Recognition - The Group's efforts in technological innovation were recognized with awards in April, including first, second, and third prizes in the State-owned Enterprise Digital Scenario Innovation Competition[67]. - The Group's "Runpin" inorganic engineered stone has received industry recognition and awards, including the "Building Materials Science and Technology Progress Award" from the China Building Materials Federation[102].
华润建材科技(01313) - 2023 - 中期财报