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China Resources Cement Announces 2019 Annual Results, Innovate and Expand New Businesses

2020-03-30 【 Fonts:LargeMediumSmall

On March 27, China Resources Cement announced its annual results for 2019. In 2019, the Company's consolidated turnover increased by 0.4% year-on-year to approximately HK$38.96 billion. Profit attributable to owners increased by 8.1% to a new historical high of HK$8.62 billion. The annual dividend was HK$0.595 per share and dividend payout ratio reached 48.2%.

China Resources Cement Holdings Limited is a large-scale and competitive cement, clinker and concrete producer in Southern China. As at 31 December 2019, it had 96 cement grinding lines and 45 clinker production lines in operation, with annual production capacity of 84.3 million tons of cement and 61.3 million tons of clinker respectively. It also owned 61 concrete batching plants with annual production capacity of 36.9 million m3 of concrete. In addition, through our equity interests in certain associates and joint ventures, the respective annual production capacities attributable to the Company were 20.2 million tons of cement, 11.6 million tons of clinker and 4.4 million m3 of concrete.

In 2019, in order to enhance the operational efficiency of production plants, China Resources Cement continuously implemented delicacy management of production operation and strengthened internal benchmarking management. The Company also continuously promoted informatization, digitalization and intelligentization. Pilot projects of intelligent manufacturing had been rolled out at the cement production plants located in Tianyang and Nanning, Guangxi as well as Fengkai, Guangdong. At the same time, the Company is committed to production safety standardization and raising the overall standards of safety management through continuous improvement on fundamental management and innovative management models. As of the end of 2019, 28 cement production plants of the Company (inclusive of grinding stations) have passed the on-site assessments as the First-Class Enterprise in National Production Safety Standardization

Through its positioning in Southern China, the Group promotes transformation and innovation, and actively explores opportunities for extension of industrial chain. The Group has achieved breakthroughs in the new businesses of aggregates, prefabricated construction and engineered stones. In November 2019 and March 2020 respectively, the Company acquired the mining rights of aggregate quarries located in Wuping County, Longyan City, Fujian and Shangsi County, Fangchenggang City, Guangxi. The Company will actively explore opportunities to develop the aggregate business in the regions where the Company has business operations. Prefabricated construction business is one of the key businesses for the Company’s future development. So far, the China Resources Cement has 7 prefabricated construction projects, among which, projects in operation include Dongguan RunYang in Guangdong and Nanning Hongji in Guangxi; projects under construction include Nanning Wuhe and Guigang Runhe in Guangxi as well as Zhanjiang RunYang in Guangdong. In January 2020, the Company acquired land for the production of prefabricated construction components in Jiangmen City, Guangdong and in Laibin City, Guangxi, with design annual production capacity of precast concrete components of approximately 50,000 m3 and 200,000 m3 respectively. In 2019, through Runfeng New Materials, the Company acquired 40.0% equity interests of Universal Marble. At the same time, the Company actively builds research and development capabilities, realize product development, promote strategic transformation, create business synergy values and achieve the development strategy for extension of industry chain.

In reliance on independent innovation, the Company promotes co-processing projects in the three scopes of municipal solid waste, urban sludge and hazardous industrial waste. As of the end of 2019, the Company had 8 co-processing projects in total with annual co-processing capacity of 1.25 million tons.

During the “Thirteenth Five-Year” period, China Resources Cement is dedicated to developing the three core strengths of the “lowest total costs, leading market position in the region, innovation-driven development” and further enhancing operational quality and efficiency. The Company is dedicated to enhancing efficiency and quality of operation and further improving the management standards of environmental protection, safety and health. The Company will deepen brand marketing and the construction of sales channels, strengthen the capability in R&D of new products, new technologies and new materials for the creation of competitive advantage by differentiation. The Company will fulfil corporate social responsibility, promote co-processing by use of cement kilns and foster green development of the industry. In addition, the Company will grasp the opportunities in the development of the Greater Bay Area, accelerate the pace of transformation and innovation, and promote the development strategy for extension of industry chain for the promotion of sustainable development of the cement industry in China.

 

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