天山股份(000877) - 2024年7月8日投资者关系活动记录表

Group 1: Market Conditions and Price Trends - The national cement market has experienced significant price increases since mid-May, with a resurgence in price hikes observed in the Yangtze River Delta region in July due to multiple factors including decreased demand and rising costs from new national standards and green low-carbon transformation investments [2][3] - Cement production has declined, and the first quarter saw a high loss rate among domestic cement companies, leading to a willingness to raise prices to mitigate losses [2] Group 2: Company Operations and Market Outlook - The company's production and operational status is normal, but sales have decreased year-on-year, with short-term demand remaining weak. Investment in infrastructure is a key focus for stable growth, with expectations for accelerated project progress as special bonds are implemented [3] - The real estate sector remains weak, but positive policy signals such as the gradual lifting of purchase restrictions and urban village renovations are expected to stimulate demand in the construction market [3] Group 3: Supply-Side Measures and Industry Strategy - The cement industry faces severe overcapacity, and prices are determined by supply and demand dynamics. The company is implementing supply-side structural reforms to address this issue [3][4] - The company is committed to adhering to national dual carbon policies by reducing carbon emissions and energy consumption, controlling new capacity, and phasing out inefficient production [4] Group 4: Pricing and Market Share Management - The company advocates a "price-cost-profit" business philosophy to maintain reasonable profit levels across the industry, ensuring that employees can share in the company's growth and that profits can be returned to shareholders and society [4] Group 5: Internationalization and Capital Expenditure - The company aims to become a world-class comprehensive service provider for basic materials and is steadily advancing its internationalization strategy, with a focus on overseas investment through its subsidiary [4] - Capital expenditures are primarily directed towards optimizing upgrades, energy-saving projects, and international development, aligned with operational conditions [4]