上峰水泥前三季度净利润同比增逾三成 “建材材料+股权投资”双引擎驱动增长

Core Insights - Gansu Shafeng Cement Co., Ltd. continues to maintain efficiency and performance growth in its main business, with significant achievements in equity investment [1] - In the first three quarters of this year, the company reported a revenue of 3.598 billion yuan and a net profit attributable to shareholders of 528 million yuan, representing a year-on-year increase of 30.56% [1] Financial Performance - Despite a year-on-year decline in demand for the cement industry, Shafeng Cement's main product sales slightly decreased by 6.21%, while the average price of clinker increased by 1.14% and the average selling price of cement products decreased by 3.5% [1] - The company focused on cost reduction and efficiency improvement, achieving a comprehensive gross profit margin of 29.86%, maintaining a leading position in the industry [1] - The net profit attributable to shareholders, excluding non-recurring gains and losses, was 495 million yuan, a year-on-year increase of 35.34% [1] - Operating cash flow reached 755 million yuan, reflecting a year-on-year growth of 2.34%, demonstrating the company's solid competitiveness and performance resilience [1] Equity Investment Business - The equity investment business, one of the company's strategic plans, has formed a certain scale and influence, contributing approximately 170 million yuan to net profit in the first three quarters [1] - Among the equity investment projects, 20 cover key areas of the semiconductor ecosystem, from upstream materials and design to downstream advanced packaging [2] - Notable companies in the investment portfolio include Hefei Jinghe Integrated Circuit Co., Ltd., which has been listed, and several others that are in various stages of the listing process, indicating a strong growth trajectory for the company's second growth curve [2]