On 19 March, China Resources Building Materials Technology held 2023 annual results presentation. Considering the business distribution and operational management, the company has changed the presentation currency of its financial statements from Hong Kong dollars to Renminbi, effective from January 1st, 2023. During the year, the company's total revenue decreased by 12.9% year-on-year to RMB 25.55 billion. The net profit attributable to the company's owners decreased by 60.1% year-on-year to RMB 640 million, with a basic earnings per share of RMB 0.092. As of December 31st, 2023, the company's total assets amounted to RMB 72.79 billion, with a net asset value per share of RMB 6.32.
In terms of business performance, the company's external sales volume for cement, clinker, and concrete during the year was approximately 66.728 million tons, 2.573 million tons, and 9.334 million cubic meters, respectively. The capacity utilization rates of cement, clinker, and concrete production lines were 71.8%, 81.0%, and 25.9% respectively. The average selling price per ton for cement and clinker was RMB 273, while the average selling price per cubic meter for concrete was RMB 367.
On 19 March, China Resources Building Materials Technology held its 2023 annual performance press conference. Ji Youhong, Chairman of the Board of Directors, Jing Shiqing, CEO, Yang Yulong, General Manager of the Holding's Finance Department, and Xing Tao, responsible for investor relations, attended the conference at the China Resources Building in Hong Kong.
This press conference attracted over 20 analysts and fund managers from domestic and international financial institutions, including Morgan Stanley, Citigroup, Macquarie, CICC, CITIC Securities, and CEB International. During the conference, the company's annual performance was announced, and in-depth discussions were held on industry development, market outlook, new business development, carbon quotas, "Lighthouse Factory," and state-owned enterprise value based management.
Chairman Ji Youhong emphasized that 2023 marks the 20th anniversary of the establishment of the company and the inaugural year of China resources Building Materials Technology, formerly known as China Resources Cement. Despite facing some difficulties and challenges in the industry and the company, we remain confident. In 2024, China Resources Building Materials Technology will focus on the annual management theme of "strengthening the foundation, promoting upgrades, and driving transformation through technological innovation." We will leverage "cost reduction along the entire value chain" to regain our cost advantage. With the core market strategy of the company, we will enhance our industry status. We will strive towards the goals of "high-end, intelligent, and green" transformation and development. Based on the cornerstone of enhancing concepts, capabilities, and work style, we will reshape our organizational capabilities. All staff at China Resources Building Materials Technology will work tirelessly with a sense of urgency and seize the day, striving to make it a respected world-class building materials technology enterprise.
CEO Jing Shiqing introduced the company's performance in production and operations, and shared a series of progress in energy conservation and emissions reduction during the year. He pointed out that the company's standard coal consumption for each ton of clinker has continuously decreased to 98.2 kilograms, achieving significant results in energy conservation and emissions reduction. It is worth mentioning that our subsidiary, Tianyang Cement, was recognized as a "Lighthouse Factory" by the World Economic Forum, becoming the first "Lighthouse Factory" in the global building materials industry. This achievement showcases how cutting-edge technology can spur the development of new industries, models, and driving forces.
General Manager Yang Yulong of the Finance Department stated that in the face of the industry's downturn, the company has been continuously enhancing operational capital management. Accounts receivable have been consistently decreasing, effectively controlling operational risks in adverse market conditions. At the same time, the company has maintained healthy levels of borrowing and capital expenditures, and the intensity of capital expenditure aligns with the full-year expectations.
During the media briefing, the company's management team presented an overview of China Resources Building Materials Technology's operations and development direction. They addressed questions from the attending media regarding industry demands, competitive landscape, and the company's name change. The focus was on sharing the achievements of intelligent manufacturing and digital empowerment at the company's Tianyang base, which has become the world's first "Lighthouse Factory" in the cement and building materials industries. Six media outlets, including Oriental Daily, Asdaq Financial, EJ Insight, Economic Daily, and Sing Tao Daily, attended the media briefing. The conference was also live-streamed through the Futu Securities platform to individual investors in mainland China and Hong Kong.
