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China Resources Cement Announced 2021 Annual Results and Held Results Presentation
Writing time:2022-03-22

On March 18th, China Resources Cement (SEHK stock code: 1313) announced its 2021 annual results. During the year, the Company’s consolidated turnover amounted to HK$44.0 billion, representing an increase of 9.7% over last year. Profit attributable to owners of the Company amounted to HK$7.8 billion, representing a decrease of 13.3% over last year. Basic earnings per share reached HK$1.112. As at 31 December 2021, the total assets of the Company were HK$79.1 billion and the net assets per share was HK$7.86.

 

From a business perspective, during the year, external sales volume of cement, clinker and concrete reached approximately 81.3 million tons, 3.3 million tons, and 14.8 million m3. The utilization rates of cement, clinker and concrete production lines were 93.6%, 100.6% and 40.9%. The average selling price of cement and clinker was HK$427 per ton, representing an increase of 15.7% over last year. The average selling price of concrete was HK$528 per m3, representing an increase of 7.9% over last year.


Regarding the cement business, during the year, the Company started construction of the second clinker production line and two cement grinding lines at the cement production plant in Wuxuan, Guangxi. We acquired 51% equity interests of Hunan Liangtian Cement Co., Ltd. in January 2022 to enter into the market in Chenzhou, Hunan. In March 2022, we sold 72% equity interests and loans of Shanxi China Resources Fulong Cement Limited to Tangshan Jidong Cement Co., Ltd., which had enabled the exit of the northern market in an orderly manner.


In addition, China Resources Cement actively seized the development opportunities of new businesses, accelerated the layout of aggregates, steadily promoted the construction and market expansion of prefabricated construction projects, and made new breakthroughs in the business fields of engineered stone, tile adhesive and white cement, which had further consolidated the Company’s core competitiveness and laid a solid foundation for the development of new businesses.


On March 21, China Resources Cement held the 2021 Annual Results Presentation. Li Fuli, Chairman of the Board of China Resources Cement, Ji Youhong, CEO, Tan Ying, CFO, and Duan Wanli, General Manager of Finance Department attended the meeting in Shenzhen.


The presentation attracted more than 70 analysts and fund managers from domestic and foreign financial institutions such as Bank of America Merrill Lynch, JP Morgan, Morgan Stanley, Citi and UBS joining through video conference from Shenzhen and Hong Kong. The management of China Resources Cement introduced major topics such as the Company's annual performance and conducted in-depth exchanges with investors on the Company's "14th Five-Year Plan", market outlook, cost management, new business development, as well as energy saving and emission reduction and carbon emissions.


CEO Ji Youhong said at the meeting that China Resources Cement will continue to reinforce the three core strengths of “leading market position in the region, innovation-driven development, lowest total costs”. We will strengthen, optimize and expand the basic building materials and functional building materials businesses, steadily develop the structural building materials business, and incubate and cultivate the new materials business. At the same time, we will continuously improve operational efficiency and quality, deepen brand marketing and the construction of sales channels, fulfil corporate social responsibility, and actively promote carbon emissions peaking and carbon neutrality to advance the green and sustainable development of the industry.


Chairman Li Fuli emphasized in his concluding remarks that under the national 14th Five-Year Plan and long-term goals for 2035 as well as the regional development strategy, we have confidence in the medium to long-term demand of the building materials industry. In the future, we will continue to optimize the industrial chain layout, expand strategic regions and accelerate the pace of transformation and innovation to inject lasting momentum into the high-quality corporate development.


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Mr. Fuli LI (Chairman, Centre Left), Mr. Youhong JI (CEO, Centre Right), Ms. Ying TAN (CFO, Left) and 

Ms. Wanli DUAN (General Manager of Finance Department, Right) attended 

the Company’s 2021 Annual Results Presentation