TSC(SZ:000877) Zheng Quan Shi Bao Wang·2025-08-18 11:39Core Viewpoint - Tianshan Co., Ltd. reported a significant reduction in losses for the first half of 2025, achieving a net profit of -0.922 billion yuan, a 72.99% improvement year-on-year, despite ongoing challenges in the cement industry due to declining demand and cost pressures [1] Financial Performance - The company achieved operating revenue of 35.98 billion yuan, with a year-on-year decrease of 9.40% [1] - Operating costs decreased by 16.71%, indicating effective cost management strategies [2] - The net cash flow from operating activities was 1.943 billion yuan, a 27.30% increase year-on-year, providing a buffer for strategic adjustments [3] Cost Management - The cost of cement clinker decreased by 20.14%, while the cost of ready-mixed concrete fell by 9.96% [2] - The company implemented various procurement strategies, including centralized purchasing and direct sourcing, to drive down costs [2] - The company reported a reduction in sales, management, and financial expenses by 3.39%, 8.63%, and 7.90% respectively [3] International Expansion - Tianshan Co., Ltd. accelerated its internationalization, with overseas revenue increasing by 72.49% year-on-year [3] - The gross margin for overseas business reached 39.90%, significantly higher than domestic operations, highlighting the profitability of its international strategy [3] Green Transformation - The company is focusing on a comprehensive carbon reduction system, achieving a reduction of 122.94 million tons of CO2 through raw material substitution and 153.43 million tons through fuel substitution [4] - Tianshan Co., Ltd. has launched 58 solar projects with a total installed capacity of 176,320 kW, contributing to its green energy initiatives [4] - The company has established a full-chain carbon reduction system, positioning itself advantageously in the low-carbon economy [5] Technological Innovation - The company’s Akesu Tianshan Cement facility has implemented a biomass fuel production line, significantly reducing coal consumption and achieving a CO2 reduction of 44,800 tons annually [5] - Tianshan Co., Ltd. received the first carbon management system certification in the cement industry, indicating its advanced capabilities in carbon asset management [5] Strategic Focus - The company is committed to supply-side reform, emphasizing lean management and cost control while pursuing opportunities in digital transformation and green development [5]