On 12 March 2021, China Resources Cement (1313HK) announced its annual results for the twelve months ended 31 December 2020.

During the year, the Company's consolidated turnover amounted to HK$40.1 billion, representing an increase of 2.9% over last year. Profit attributable to owners of the Company amounted to HK$9.0 billion, representing an increase of 4.0% over last year. Basic earnings per share reached HK$1.283. The annual dividend was HK$0.615 per share, representing a dividend payout ratio of 47.9%. As at 31 December 2020, the total assets of the Company were HK$68.5 billion and the net assets per share was HK$7.11.<_o3a_p style='line-height: 200%;'>

In terms of business overview, the Company's external sales volume of cement, clinker and concrete reached approximately 87.3 million tons, 3.6 million tons, and 13.4 million m3. The utilization rates of cement, clinker and concrete production lines were 101.1%, 112.6% and 37.5%. The consolidated gross margin of the Company was 39.0%. Net margin was 22.5%, which was 0.2 percentage points higher as compared to last year. <_o3a_p style='line-height: 200%;'>

Meanwhile, the Company proactively promotes the development strategy for extension of industry chain and seizes development opportunities of new businesses. Since 2020, the Company newly acquired the mining rights of six aggregates quarries. The Company's total annual aggregates production capacity of the Company is expected to exceed 63.0 million tons.<_o3a_p style='line-height: 200%;'>

In addition, the Company actively developed new inorganic engineered stone products. CR Cement entered into an equity transfer agreement in January 2021 with Universal Marble and its subsidiaries to increase our shareholding in Universal Classical to approximately 75.3%. <_o3a_p style='line-height: 200%;'>

With regards to prefabricated construction business, Phase 1 production line of precast concrete components of the Guigang Runhe Project had commenced trial production in June 2020. As of the end of 2020, the Company had planned for a total of 7 prefabricated construction projects with approximately 1.5 million m3 of the design annual production capacity after completion.<_o3a_p style='line-height: 200%;'>

In addition, in February 2020, the Company completed the construction of one clinker production line and two cement grinding lines in Anshun City, Guizhou. As at 31 December 2020, the Company had 97 cement grinding lines and 46 clinker production lines in operation, with annual production capacity of 85.3 million tons of cement and 62.7 million tons of clinker respectively. It also owned 60 concrete batching plants with annual production capacity of 36.0 million m3 of concrete. In addition, through equity interests in certain associates and joint ventures, the respective annual production capacities attributable to the Company were 20.4 million tons of cement, 11.2 milliontons of clinker and 4.1 million m3 of concrete.<_o3a_p style='line-height: 200%;'>

2021 is the opening year of the 'Fourteenth Five-Year' Plan. CR Cement will continue to reinforce the three core strengths of the 'leading market position in the region, lowest total costs, innovation-driven development', commit to enhancing efficiency and quality of operation and improving the management standards of environmental protection, safety and health. The Company will deepen brand marketing and the construction of sales channels, consolidate market share, strengthen the capability in research and development of new products, new technologies and new materials, and promote construction of digitalization and intelligentization for the creation of competitive advantage by differentiation. The Company will actively fulfil corporate social responsibility, promote co-processing by use of cement kilns and foster green development of the industry. In addition, the Company will proactively seize the opportunities in the development of the Guangdong-Hong Kong-Macau Greater Bay Area, accelerate the pace of transformation and innovation, and advance the development strategy for extension along the industry chain. CR Cement will also continue to seek opportunities for strategic cooperation with domestic and overseas leading enterprises for the joint promotion of sustainable development of the cement industry in China.

Mr. Fuli LI (Chairman, Centre), Mr. Youhong JI (CEO, Left), and Ms. Wanli Duan (General Manager of Finance Department, Right) attended the Company's 20AR Results Briefing<_o3a_p>


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China Resources Cement Holdings Ltd. published this content on 17 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 March 2021 07:29:04 UTC.