塔牌集团受益行业修复净利增92% 拟最高1亿回购股份提振市场信心

Core Viewpoint - Tower Group has reported a significant recovery in its performance for the first half of 2025, driven by a low sales base from the previous year, declining coal prices, and ongoing cost reduction and efficiency improvement efforts [1][5]. Financial Performance - In the first half of 2025, Tower Group achieved operating revenue of 2.056 billion yuan, an increase of 4.05% year-on-year [1][3]. - The net profit attributable to shareholders reached 435 million yuan, up 92.47% compared to the same period last year [1][3]. - The net profit after deducting non-recurring items was 242 million yuan, reflecting a year-on-year growth of 31.73% [1][3]. Industry Context - The cement industry has initiated a "anti-involution" strategy since October 2024, which has contributed to the recovery of many companies' performances [1][2]. - The overall cement production in China for the first half of 2025 was 815 million tons, a decrease of 4.3% year-on-year [3]. - The average price of cement saw a significant increase in the first quarter but declined in the second quarter due to weaker demand [3]. Production Capacity - As of June 2024, Tower Group's clinker production capacity was 14.73 million tons, ranking 16th in the national cement clinker capacity [1][5]. - The total cement production capacity was 20 million tons, placing it among the top in Guangdong province [1][5]. Share Buyback Plan - Tower Group announced a plan to repurchase A-shares using its own funds, with a total amount not less than 50 million yuan and not exceeding 100 million yuan, at a price not exceeding 10 yuan per share [1][6]. - The buyback is expected to involve approximately 5 million to 10 million shares, representing 0.42% to 0.84% of the company's total share capital [6].