HUAXIN CEMENT(600801) 华夏时报·2025-04-13 04:38Core Points - In 2024, the company reported a revenue of 34.22 billion yuan, a year-on-year increase of 1.36%, but the net profit attributable to shareholders decreased by 12.52% [2][4] - The decline in net profit is attributed to a moderate decrease in domestic cement demand and a drop in prices, influenced by the ongoing adjustment in the real estate sector and infrastructure projects [5][9] - The company plans to focus on cost reduction and expansion in emerging markets to enhance shareholder returns [2][5] Revenue Breakdown - The cement and clinker business accounted for 55% of total revenue, with cement revenue at 18.03 billion yuan, down 1.64% year-on-year, and sales volume at 57.02 million cubic meters, down 1.99% [4][5] - Non-cement businesses showed growth, with concrete revenue at 8.415 billion yuan, up 9.97%, and sales volume at 31.81 million cubic meters, up 16.65% [5][6] - Aggregate revenue reached 5.642 billion yuan, a 5.18% increase, with sales volume at 14.3 million tons, up 9.03% [5][6] Capacity and Production - As of the end of 2024, the company had a cement production capacity of 12.6 million tons per year and aggregate capacity of 285 million tons per year [3][4] - The company ranks fourth globally in clinker capacity among Chinese cement enterprises, with domestic clinker capacity ranked sixth and overseas capacity ranked third [4] Overseas Expansion - The overseas business generated 8.043 billion yuan in revenue, a 46.52% increase, with cement sales volume at 16.2 million tons, up 37% [7][8] - The company has investments in 13 countries and operations in 18 countries, with plans for further expansion [7][8] - A significant acquisition is planned in Nigeria, aiming to gain control of Lafarge Africa Plc for approximately 8.38 billion USD [7][8] Future Outlook - The company anticipates total revenue of 37.1 billion yuan in 2025, with a focus on increasing overseas sales while domestic sales are expected to decline [8] - Planned capital expenditures for 2025 are approximately 13.3 billion yuan, primarily for overseas acquisitions and aggregate production capacity [8][9] - The management expects the competitive landscape in the aggregate industry to be stronger than in the cement industry, with a focus on cost reduction and efficiency improvements [6][9]