Anhui Conch Cement Company (914) Q4 2024 earnings summary

Executive summary

• Revenue for 2024 was RMB91,030 million, down 35.51% year-over-year; net profit attributable to equity shareholders was RMB8,052 million, down 24.65% year-over-year; EPS was RMB1.53, a decrease of RMB0.49 per share year-over-year.

• The company faced shrinking market demand and overcapacity, but focused on cost control, innovation, and operational resilience.

• Significant achievements in technological innovation, digital transformation, and expansion of production capacity in clinker, cement, aggregates, and commodity concrete.

Financial highlights

• Gross profit for 2024 was RMB18,813 million, down from RMB22,412 million in 2023.

• Operating profit was RMB10,870 million, down from RMB14,493 million year-over-year.

• Net cash flow from operating activities was RMB18,476 million, a decrease of 7.96% year-over-year.

• Final dividend proposed at RMB0.71 per share, totaling RMB3,747 million, representing 48.68% payout ratio.

Outlook and guidance

• 2025 outlook anticipates continued weak domestic demand, ongoing supply-side reforms, and industry overcapacity.

• Plans to achieve net sales volume of cement and clinker at 268 million tonnes, with stable cost and expense per tonne.

• Capital expenditure planned at RMB11,980 million, mainly for core business projects and industrial chain extension.