Financial Performance - For the three months ended March 31, 2024, the company reported an unaudited consolidated loss attributable to owners of approximately RMB 129.7 million[2]. - Revenue for the three months was RMB 1,223.8 million, a decrease from RMB 1,896.8 million in the same period last year, representing a decline of approximately 35.5%[3]. - Gross profit for the period was a loss of RMB 231, compared to a gross profit of RMB 173.6 million in the previous year[3]. - Other income increased to RMB 62.3 million from RMB 46.4 million year-on-year, reflecting a growth of approximately 34.2%[3]. - The company reported a net cash outflow from operating activities of RMB 215.3 million for the three months ended March 31, 2024, compared to a net inflow of RMB 58.7 million in the same period last year[6]. - The company's cash and cash equivalents as of March 31, 2024, were RMB 9,041.3 million, down from RMB 9,256.5 million at the end of the previous year[6]. - The company does not recommend the payment of dividends for the first three months of 2024, consistent with the previous year[7]. Assets and Liabilities - As of March 31, 2024, total assets amounted to RMB 17,710.8 million, a decrease from RMB 18,065.3 million as of December 31, 2023[4]. - The company's non-current liabilities decreased to RMB 635.8 million from RMB 858.5 million as of December 31, 2023[5]. Market Conditions - In Q1 2024, the national GDP reached 29,629.9 billion yuan, with a year-on-year growth of 5.3%, accelerating by 0.1 percentage points compared to the previous quarter[8]. - In Q1 2024, the group's cement product sales (cement + clinker) decreased by 14% year-on-year due to a downturn in the real estate market and tight project financing[9]. - The national fixed asset investment in Q1 2024 grew by 4.5% year-on-year, while infrastructure investment increased by 6.5%[8]. - The cement market demand in Q1 2024 was weak, with a total cement production of 337 million tons, down 16.3% year-on-year[9]. - The group anticipates that the cement market demand will slightly decline overall in 2024, with real estate demand continuing to bottom out[12]. - The group maintains a cautious optimism regarding the cement industry's development, expecting marginal improvement in demand in the second half of 2024[10]. - The group expects that the cement price will gradually return to a rational range after experiencing a "price war" in 2023[10]. Strategic Initiatives - The group plans to enhance customer service and leverage its comprehensive storage advantages to maintain core market share amid competitive pressures[12]. - The group aims to improve performance in the second half of the year through a series of strategic measures[12]. Executive Changes - The board announced changes in executive directors effective April 29, 2024, with three current executive directors transitioning to non-executive roles[2]. - Mr. Chen, Mr. Li, and Ms. Wu will be appointed as non-executive directors effective April 29, 2024[13]. Executive Compensation - Mr. Chen's remuneration for 2020, including director's fees, salary, and other benefits, was approximately HKD 240,000[14]. - Mr. Li holds 200,000 shares in the company, representing his equity interest[16]. - Mr. Li's remuneration for 2020, including director's fees, salary, and other benefits, was also approximately HKD 240,000[16]. - Ms. Wu has over 30 years of financial professional experience and has held various director and supervisory roles in more than 30 companies[18]. - Ms. Wu has extensive experience in mergers and acquisitions, financial management, internal control, and regulatory accounting[19]. - Ms. Wu's total compensation for 2020, including director fees, salary, and other benefits, amounted to HKD 240,000[19]. - Ms. Wu holds a registered accountant qualification in both the United States and Taiwan[19].
亚洲水泥(中国)(00743) - 2024 Q1 - 季度业绩