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Enterprise trends

China building materials releases 2020 interim performance report

Source: China Building Materials Co., Ltd Release time: 2020-09-05

On August 28, China Building Materials Co., Ltd. (hk3323, hereinafter referred to as "China building materials") issued the interim performance announcement of 2020.

In the first half of 2020, China's building materials achieved revenue of 106.788 billion yuan, a year-on-year decrease of 4.8%; net profit of 9.695 billion yuan, a year-on-year increase of 10.2%; net profit attributable to the parent company was 5.387 billion yuan, a year-on-year decrease of 6.4%; and net cash flow of 20.561 billion yuan, a year-on-year increase of 12.5%. The sales volume of cement clinker was 164 million tons, with a year-on-year decrease of 3.5%; the sales volume of commercial concrete was 46 million cubic meters, with a year-on-year decrease of 7.1%; the sales volume of aggregate was 32.87 million tons, with a year-on-year increase of 37.6%; the sales volume of gypsum board was 825 million square meters, with a year-on-year decrease of 8.7%; the sales volume of glass fiber yarn was 1.26 million tons, with a year-on-year increase of 10.8%; the sales volume of wind turbine, 439 MW, a year-on-year increase of 43.6%, and engineering service income of 15.7 billion yuan, a year-on-year decrease of 9.1%.

The management said that affected by the new crown epidemic, China's economic growth slowed down significantly in the first quarter, stabilized and recovered in the second quarter, turned from negative to positive, the economic recovery was better than expected, and the demand for building materials accelerated, and the decline rate narrowed month by month. Supply side structural reform is still the main line, staggered peak production and cancellation of pc32.5r will promote the supply ecology to be better and the industry benefit will be stable.

Peng Shou, academician of Chinese Academy of engineering and President of China building materials, introduced the operation and development of the company's three major plates in the first half of 2020. Cement plate To adhere to the overall planning of epidemic prevention and control and management, in-depth practice of supply side structural reform, maintain the ecological health of the industry; firmly promote the "cement +", transformation and upgrading of cement business, optimize the layout of commercial concrete business, and coordinate the development of aggregate business; firmly promote the integration and optimization, start the business integration of cement plate, and release value. New materials , gypsum board business adhere to epidemic prevention and control and return to work and production, rush to aid the construction of anti epidemic hospital, steadily promote production and operation, steadily promote the development strategy of "one body, two wings, global layout", complete the preliminary integration and optimization of waterproof business, and establish a unified operation and management platform; glass fiber business continues to optimize the production and marketing structure, actively promote research and development innovation, and continue to lead the intelligent manufacturing; wind turbine blades We should consolidate the domestic market, seize the opportunity of "rush loading tide", accelerate the "two seas strategy", and vigorously explore the international market. Engineering services We will continue to consolidate the advantages of the main business, ensure that both epidemic prevention and resumption of production are correct, and the global market share of cement and glass engineering remains in the lead; we will further promote international operation and promote moderately diversified and localized investment projects.

Cao Jianglin, general manager of China Building Materials Group and chairman of China Building Materials Group, pointed out that in the first half of 2020, the company focused on five tasks The first is to comprehensively promote the epidemic prevention and control and production and operation to stabilize the price and share; the second is to further promote the "three refined" management to reduce cost and increase efficiency; the third is to continuously promote the "+" strategy to enhance value and competitiveness; the fourth is to continue to promote the principle of prudence and reduce debt and balance sheet; the fifth is to continue to promote the concept of "cost, cost and profit", advocate industry self-discipline and maintain the ecological health of the industry. High quality development has made new breakthroughs and achievements in three aspects The first is to overcome the impact of the epidemic situation, and its business performance outperforms the market and the industry, with a net profit of 9.695 billion yuan, a year-on-year increase of 10.2%; the second is the continuous growth of net cash flow, realizing the net operating cash flow of 20.561 billion yuan, a year-on-year increase of 12.5%; the third is the further optimization of the balance sheet, with the asset liability ratio of 65.5%, a year-on-year decrease of 2.3 percentage points.

The steady economic recovery in the first half of 2020 will lay a solid foundation for the second half of 2020, and the effect of counter cyclical regulation policy will be further revealed, so as to promote the implementation of investment in key areas such as infrastructure investment and real estate. The management believes that in terms of demand, the demand of building materials industry, especially cement industry, still has a strong supporting force; on the supply side, structural reform has reached a consensus, and the output is eliminated through peak shift production, self-regulation and production restriction, production shutdown in heavy polluted weather, and staggered replacement of carbide slag; and the capacity reduction is promoted through the cancellation of pc32.5r, mine rectification, differential electricity price, ultra-low emission and reduced replacement, The industry ecology is expected to be stable.

Cao Jianglin introduced that China building materials will focus on the following work in the second half of the year First, in terms of operation, we should build ecology and stabilize operation, deeply practice the concept of "price, cost and profit", maintain the ecological health of the industry, and keep the price stable in the peak season. Second, in terms of management, we should adhere to the principle of fine, concise and capable, benchmarking and first-class, and further promote the "three refined management" to reduce costs and increase efficiency. Third, in terms of development, we should improve the tripartite pattern of cement, new materials and engineering services, accelerate the transformation and upgrading; continuously optimize the cement business, promote the extension of the industrial chain, and accelerate the development of "four modernizations"; the new material business will continue to break through to realize high-end, mass production and globalization; the engineering service business will consolidate its development, tap the market potential and optimize the market layout. Fourth, in terms of innovation, we should implement the new development concept, take the first-class as the goal, promote scientific and technological innovation, and strengthen business model innovation and management innovation. Fifth, in terms of reform, we should promote integration in an orderly manner based on the principle of refocusing.

The management made in-depth exchanges on business integration of market concern. At present, Tianshan Cement Co., Ltd. plans to raise shares of the company's shares in China's Tianbiao building materials Co., Ltd., and plans to purchase shares of Tianbiao Cement Co., Ltd. Following the objective law of the capital market, we should adopt market-oriented reorganization and integration means, steadily implement it, and orderly promote the business integration of other sectors, and adopt centralized management and regional operation mode to build a flagship listed company platform in the fields of cement, new materials and engineering services.

About 200 international well-known investment banks, institutional investors and analysts from Citigroup, Bank of America, Morgan, Guotai Junan, CICC and Huatai Securities attended the conference, and had in-depth exchanges with the management on the industry development, company operation, business integration and the development strategy of the "14th five year plan". They congratulated the excellent performance of China building materials, fully affirmed the remarkable achievements of the company in maintaining the industry ecology, improving internal quality and efficiency, and expressed full confidence in the industry prospect and the future development of the company.