Financial Performance - The unaudited consolidated profit attributable to owners for the three months ended March 31, 2022, was approximately RMB 123.9 million[2] - Revenue for the three months ended March 31, 2022, was RMB 2,093.4 million, a decrease of 8.9% compared to RMB 2,298.4 million in the same period of 2021[3] - Gross profit for the same period was RMB 303.5 million, down from RMB 762.4 million year-on-year, indicating a significant decline[3] - The net cash used in operating activities for the three months ended March 31, 2022, was RMB 198.8 million, compared to a net cash inflow of RMB 97.6 million in the same period of 2021[5] - The company reported a basic earnings per share of RMB 0.079 for the first quarter of 2022, down from RMB 0.298 in the same period of 2021[3] - The company did not recommend the payment of dividends for the first quarter of 2022, consistent with the previous year[6] Asset Management - The total assets less current liabilities as of March 31, 2022, amounted to RMB 18,469.5 million, an increase from RMB 18,234.6 million as of December 31, 2021[4] - The total non-current assets as of March 31, 2022, were RMB 10,339.7 million, slightly down from RMB 10,504.4 million as of December 31, 2021[4] Market Conditions - The cement production in China for the first quarter of 2022 was 387 million tons, a decrease of 12.1% compared to the same period in 2021, reflecting weak demand in the market[7] - In the first quarter of 2022, the group's cement product sales were 5.37 million tons, a decrease of 14% compared to the same period in 2021[9] - The group expects cement product sales to reach 8.2 million tons in the second quarter of 2022, a growth of 4% compared to 7.89 million tons in the same period in 2021[9] - The group anticipates that after the pandemic control measures are lifted, market demand for cement will gradually recover in the second quarter[10] - The national investment in major infrastructure projects is expected to drive cement demand in the second half of 2022, with a projected increase in demand[10] Pricing Trends - In March 2022, the price of clinker increased by a total of RMB 110 per ton, while cement prices rose by RMB 30 to 50 per ton[8] - In April 2022, the price of clinker decreased by RMB 80 per ton, and cement prices fell by RMB 20 to 50 per ton due to high inventory levels[8] Operational Challenges - The company faced challenges in production and operations due to an unstable external environment and ongoing domestic pandemic situations, impacting economic recovery efforts[7] - The group expects a slight decrease in total cement supply in 2022 due to tightening supply dynamics[11] Strategic Outlook - The group maintains a cautiously optimistic outlook for the cement industry despite facing challenges such as declining market demand and high costs[9] - The group plans to further promote digital transformation to reduce costs and enhance overall competitiveness[11] - The group aims to maintain a high-quality brand image and solidify its core market share in preparation for future market competition[11]
亚洲水泥(中国)(00743) - 2022 Q1 - 季度财报