China Resources reports turnover of HKD44bn in 2021
China Resources Cement announced consolidated turnover amounted to HKD44bn (US$5.62bn) in 2021, representing an increase of 9.7 per cent over the previous year. Profit amounted to HKD7.8bn, or a decrease of 13.3 per cent when compared with 2020.
External sales volumes of cement, clinker and concrete reached approximately 81.3Mt, 3.3Mt, and 14.8Mm3, respectively, in 2021. The capacity utilisation rates of cement, clinker and concrete production lines were 93.6, 100.6 and 40.9 per cent, respectively. The average selling price of cement and clinker was HKD427/t, representing an increase of 15.7 per cent from 2020. The average selling price of concrete was HKD528/m3, or an increase of 7.9 per cent compared to 2020.
The company started construction of the second clinker production line and two cement grinding lines at the cement plant in Wuxuan, Guangxi. China Resources acquired 51 per cent equity interests of Hunan Liangtian Cement Co Ltd in January 2022 to enter into the market in Chenzhou, Hunan. In March 2022 the company sold 72 per cent equity interests and loans of Shanxi China Resources Fulong Cement Ltd to Tangshan Jidong Cement Co Ltd, which had enabled the exit of the northern market in an orderly manner.
Published under Cement News