The price of cement has plummeted, and the "one brother" conch cement cannot be carried!The net profit of the first half of the year fell more than 30%

The demand for our reporter Huang Qun fell sharply, which led to in -depth adjustment of cement prices, and cement companies were a bit miserable in the first half of the year. Although it is known for its excellent cost control, the "one brother" conch cement cannot be alone in front of the general trend. The company disclosed the semi -annual report on the evening of August 25, and the net profit of revenue fell more than 30%during the period. Some insiders close to the company told the Securities Daily that how the cement industry develops in the second half of the year and even more for a long time is like a unsolvable puzzle. According to the semi-annual report, the operating income of Conch cement achieved 56.276 billion yuan in January to June, and net profit was 9.840 billion yuan. From the perspective of numbers alone, these indicators may be able to "spike" most of the leaders in the A -share industry, but compared with the same period last year, the decline has exceeded 30%. What is the performance of devouring conch cement? The semi -annual report shows that the total net sales of the company's cement and clinker during the reporting period were 130 million tons, a year -on -year decrease of 37.46%; the comprehensive gross profit margin of the product was 33.12%, an increase of 2.05 percentage points from the same period last year. This means that when the comprehensive gross profit margin of the product is still increased, the sharp decline in sales has led to a decline in performance. Regarding the outlook in the second half of the year, Conch Cement said that in the second half of 2022, the government will actively expand effective investment, comprehensively strengthen infrastructure construction, and accelerate the construction of major projects for the "14th Five -Year Plan". Therefore support. In terms of real estate, the country's policies to promote the virtuous cycle and healthy development of the real estate industry, but in the short term, the downward trend of real estate investment is still difficult to reverse, which will adversely affect the demand for the cement market. Back to the history, conch cement has declined in the year -on -year growth rate of net profit in 2005, 2012 and 2015, and has never experienced a year -on -year decline in two consecutive years. "On the one hand, the price plunge in 2012 was due to the rapid expansion of production capacity, and on the other hand, the demand did not keep up, and the cement company did not find a way to symbiotic and prosperous. At that time, the style of conch cement did not change. The way of fighting hard. In 2015, the price plunge was because the industry created the highest sales since the reform and opening up in 2014. The price limit the price was raised, which caused everyone to be too high in the 2015 market. The motivation. These two times are problems that have problems in the supply side and have caused the price of cement prices to fall. "The aforementioned industry told the" Securities Daily "reporter that this year is different, the epidemic and economic structure adjustment, the investment driving effect is not obvious that the demand is insufficient. Data from the National Bureau of Statistics show that in the first half of this year, the national cumulative cement output was 977 million tons, the lowest level in the same period in the past ten years, a decrease of 15%year -on -year, and the production growth rate was the lowest value in the century. Cement inside monitoring data show that the price of Conch cement in Anhui at the end of June 2022 has dropped from 550 yuan/ton at the beginning of the year to about 350 yuan/ton. Looking at the prices of major brand cement in East China, Central China, Central China, and South China, the decline in the first half of the year is basically about 200 yuan/ton. "In the first half of the year, the capacity utilization rate of the entire industry was only about 60%, and the output fell by 15%year -on -year, which is equivalent to only 45%of the capacity utilization rate. In this case, it is difficult for cement companies Essence From the perspective of cement companies that have disclosed the semi -annual report, companies including China Resources Cement, Huaxin Cement, Tianshan, Wannian, Tower Group Group and other companies have both revenue on dual revenue. China Resources Cement's turnover in the first half of the year was HK $ 16.117 billion, a decrease of 20.1%year -on -year; profit of HK $ 1.805 billion, a decrease of 50.3%year -on -year. Another Giant Da Fatta Tianshan Co., Ltd. achieved operating income of 65.446 billion yuan in the first half of 2022, a year -on -year decrease of 13.68%; net profit was 3.483 billion yuan, a year -on -year decrease of 44.94%. "The whole industry is thinking about what to do now, and it is difficult to return to demand, but it is very difficult." The person said.

Picture | Site Cool Hero Bao Map.com

Recommended reading

China in the past ten years | Cumulative employment in cities and towns has added 130 million people. Basic pension, unemployment, and work injury three social insurance funds have accumulated 6.9 trillion yuan!

The three major indexes were differentiated, and port shipping rose 4.35%, and the daily limit of four concept stocks! Institution: Maintain the A -share market shock to build bottom judgment

- END -