TSC(SZ:000877)2024-10-29 09:15Financial Performance - The company reported a total operating revenue of 61.46 billion CNY for the first three quarters of 2024, with a net profit attributable to shareholders of -3.748 billion CNY [1] - In Q3 2024, the operating revenue was 21.76 billion CNY, showing a narrowing loss compared to previous quarters [1] - Cement clinker sales reached 16.53 million tons, a year-on-year decrease of 15.52%; ready-mixed concrete sales were 5.31 million cubic meters, down 0.73%; and aggregate sales were 9.34 million tons, down 9.22% [1] Cost Management - The company achieved a year-on-year decrease in comprehensive cement costs in the first three quarters, driven by resource optimization, centralized procurement, and technical upgrades [3] - Future cost reduction potential exists, but the extent of reduction may diminish as the company continues to implement comprehensive cost-saving measures and technological innovations [3] Industry Policies - New policies such as the "Cement Industry Energy Saving and Carbon Reduction Special Action Plan" aim to control cement clinker production capacity to around 1.8 billion tons by the end of 2025, with 30% of capacity meeting benchmark energy efficiency levels [2] - The policies emphasize the elimination of outdated production capacity and the promotion of green and low-carbon transformations in traditional industries [2] International Development - The company is accelerating its internationalization efforts, responding to the national "going out" strategy, with a focus on overseas investments [3] - The Tunisia acquisition project is progressing, with the company working on the registration of the SPV and investment plans [3] Capital Expenditure - The capital expenditure plan for 2024 is approximately 17 billion CNY, reflecting a slight decrease compared to the previous year, with investments focused on overseas operations, resource optimization, and environmental initiatives [4] Market Management - The company emphasizes long-term market value management through operational excellence and effective communication with investors [4] - It aims to enhance performance and return on investment while adhering to disclosure obligations as per regulatory requirements [4]