Company Performance - China Resources Cement Technology (01313) reported a decline in cement and clinker sales, totaling 39.43 million tons for the first three quarters of 2025, a year-on-year decrease of 10% [1] - The average selling price of cement was 232 RMB per ton, down by 6 RMB per ton compared to the previous year [1] - The company's overall gross margin for the first three quarters was 16.9%, an increase of 1.7 percentage points from 15.2% in the same period of 2024, primarily due to a decrease in sales costs of cement products [1] Industry Insights - The cement industry is currently focusing on overproduction management, which is expected to clear some excess capacity [1] - Strict adherence to approved production capacity could optimize production order and improve actual capacity utilization rates [1] - In regions like Guangdong, where past capacity utilization has been high, marginal supply-demand improvements may lead to price elasticity [1]
华润建材科技午前跌近3% 公司水泥销量降幅大于行业 供给治理有望提供价格修复弹性