香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容 概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不就 因本公佈全部或任何部分內容而產生或因依賴該等內容而引致的任何損 失承擔任何責任。 WEST CHINA CEMENT LIMITED 中 國 西 部 水 泥 有 限 公 司 （於澤西註冊成立的有限公司，註冊編號94796） （股份代號：2233） 二 零 二 三 年 中 期 業 績 公 佈 財務摘要 截至 截至 二零二三年 二零二二年 六月三十日 六月三十日 變動 人民幣百萬元（除另有指明外） 止六個月 止六個月 百分比 （未經審核） （未經審核） 水泥及熟料總銷售量（百萬噸） 9.54 9.15 4.3% 水泥銷售量（百萬噸） 9.14 8.70 5.1% 骨料銷售量（百萬噸） 2.06 2.30 (10.4%) ...

目錄 2 公司資料 3 財務摘要 4 業務回顧 9 大事紀要 11 主席報告 16 管理層討論及分析 30 企業管治報告 39 董事及高級管理層 44 董事會報告 57 獨立核數師報告 62 綜合損益及其他全面收入表 63 綜合財務狀況表 65 綜合權益變動表 67 綜合現金流量表 69 綜合財務報表附註 公司資料 總部及中國主要營業地點 審核委員會成員 中國陝西省西安市 李港衛（主席） 長安區 朱東 航天基地 ...

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 佈 的 內 容 概 不 負 責，對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公佈全部或 任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 WEST CHINA CEMENT LIMITED 中 國 西 部 水 泥 有 限 公 司 （於澤西註冊成立的有限公司，註冊編號94796） （股份代號：2233） 截至二零二二年十二月三十一日止年度之 年度業績公佈 的相關補充公佈 茲提述中國西部水泥有限公司於二零二三年三月二十八日刊發的截至二零二二年 十二月三十一日止年度之年度業績公佈（「該公佈」）。 董事會發現，該公佈「股息」一段存在無心筆誤，誤記股東收取末期股息的資格之 釐定日期。董事會謹此澄清（ 更正處以下劃線表示，以資識別 ），末期股息每股普 通股人民幣0.067元，須待股東於二零二三年五月二十五日（ 星期四 ）舉行的本公司 應屆股東週年大會上批准後，方會派付予於二零二三年六月二日（ 星期五 ）營業時 間結束時名列本公司股東名冊的股東。 除上文所述外，該公佈內容維持不變（ 中英文 ...

Financial Performance - Total sales volume of cement and clinker decreased by 4.9% to 19.3 million tons in 2022 from 20.3 million tons in 2021[2] - Revenue increased by 6.1% to RMB 8,489.1 million in 2022 compared to RMB 8,002.8 million in 2021[2] - Net profit attributable to shareholders decreased by 23.4% to RMB 1,214.7 million in 2022 from RMB 1,585.1 million in 2021[2] - Basic earnings per share fell by 23.0% to RMB 0.224 in 2022 from RMB 0.291 in 2021[2] - Gross profit margin decreased by 4.0 percentage points to 25.7% in 2022 from 29.7% in 2021[2] - The company reported a total of RMB 726,501,000 in receivables for 2022, down from RMB 1,004,904,000 in 2021, representing a decline of about 27.6%[40] - The company reported a net profit of RMB 1,214,746,000 for 2022, a decrease from RMB 1,585,070,000 in 2021, reflecting a decline of approximately 23.3%[38] - The total income tax expense for 2022 was RMB 169,184,000, down from RMB 300,639,000 in 2021, indicating a reduction of about 43.7%[37] Assets and Liabilities - Total assets increased by 13.5% to RMB 30,239.3 million in 2022 from RMB 26,648.4 million in 2021[3] - Net debt increased by 50.0% to RMB 7,487.1 million in 2022 from RMB 4,990.4 million in 2021[3] - The net asset to debt ratio improved by 13.6 percentage points to 55.9% in 2022 from 42.3% in 2021[3] - The company's total liabilities reached RMB 16,846,502 thousand in 2022, compared to RMB 14,856,724 thousand in 2021, marking an increase of approximately 13.4%[11] - The company's total non-current assets as of December 31, 2022, amounted to RMB 22,050,766 thousand, up from RMB 17,021,550 thousand in 2021, reflecting an increase of about 29.1%[26] Revenue Sources - Sales of cement and related products amounted to RMB 8,153,177 thousand in 2022, up from RMB 7,771,971 thousand in 2021, indicating a growth of about 4.91%[14] - Revenue from the Chinese market in 2022 was RMB 7,356,220 thousand, down from RMB 7,520,301 thousand in 2021, indicating a decline of about 2.19%[25] - Revenue from Africa significantly increased to RMB 1,130,732 thousand in 2022, compared to RMB 445,355 thousand in 2021, marking a growth of approximately 154.5%[25] - The company reported external sales of RMB 7,356,220 thousand from China and RMB 1,132,915 thousand from overseas, totaling RMB 8,489,135 thousand in external sales[18] Operational Highlights - The company reported a significant increase in commercial concrete sales volume by 29.9% to 1.74 million cubic meters in 2022 from 1.34 million cubic meters in 2021[2] - The segment profit for the China division was RMB 1,566,950 thousand, while the overseas segment profit was RMB 341,419 thousand, contributing to a total segment profit of RMB 1,908,369 thousand[18] - The company supplied cement for major infrastructure projects, including the Xi'an to Yan'an high-speed railway, consuming over 460,000 tons of cement in 2022[64] Cost and Expenses - Total depreciation and amortization expenses rose to RMB 1,289,898,000 in 2022 from RMB 1,084,818,000 in 2021, an increase of 18.9%[35] - Employee costs remained stable at RMB 776,562,000 in 2022, slightly down from RMB 776,835,000 in 2021[35] - Administrative expenses increased by 9.1% from RMB 554.3 million to RMB 604.8 million for the year ended December 31, 2022[91] - Financing costs increased by 59.6% from RMB 261.1 million to RMB 416.6 million, primarily due to the issuance of preferred shares[96] Environmental and Sustainability Initiatives - The group implemented energy-saving measures that reduced electricity consumption by approximately 30% and CO2 emissions by about 22,000 tons per million tons of cement produced[70] - The group installed De-NOx equipment across all its plants in China, reducing NOx emissions by approximately 60% per ton of clinker, meeting new air pollution standards[71] - The group has established solid waste treatment facilities with an annual capacity of 100,000 tons, 16,500 tons, and 80,000 tons at different plants, contributing to environmental sustainability[71] Corporate Governance - The company is committed to maintaining high standards of corporate governance and transparency[112] - The audit committee consists of four independent non-executive directors, ensuring oversight of financial reporting and internal controls[115] - The company has applied the corporate governance code principles as of December 31, 2022, and has complied with all relevant provisions[112] Future Outlook - The group plans to focus on strengthening and optimizing its cement main business, accelerating investment in upstream and downstream projects such as aggregates and ready-mixed concrete[77] - The group anticipates stable prices in 2023 due to limited supply caused by stricter environmental policies[78] - Several major infrastructure projects are expected to commence in 2023, including the construction of multiple railways and hydropower stations in Shaanxi province[78]

目錄 | 02 | 公司資料 | | --- | --- | | 03 | 財務摘要 | | 04 | 管理層討論與分析 | | 20 | 權益披露 | | 26 | 企業管治及其他資料 | | 28 | 簡明綜合財務報表審閱報告 | | 29 | 簡明綜合損益及其他全面收益表 | | 30 | 簡明綜合財務狀況表 | | 32 | 簡明綜合權益變動表 | | 34 | 簡明綜合現金流量表 | | 35 | 簡明綜合財務報表附註 | 公司 資料 總部及中國主要營業地點 中國陝西省西安市 長安區 航天基地 神舟四路336號 堯柏研發培訓中心 註冊辦事處 13 Castle Street St Helier Jersey JE1 1ES 香港主要營業地點 香港 尖沙咀 廣東道9號海港城 港威大廈第6座37樓3705室 公司網站 www.westchinacement.com 董事會 執行董事 張繼民 （主席） 馬維平 （總裁） 非執行董事 馬朝陽 侍光磊 （於二零二二年四月十九日辭任） 王敬謙 （於二零二二年四月十九日獲委任） 范長虹 獨立非執行董事 李港衛 譚競正 朱東 公司秘書 陳兢修 HKICPA 法定代表 ...

Financial Performance - Total sales volume of cement and clinker reached 20.3 million tons, a 2.0% increase from 19.9 million tons in 2020[6] - Revenue increased by 12.2% to RMB 8,002.8 million from RMB 7,131.1 million in the previous year[6] - Net profit attributable to shareholders rose by 1.6% to RMB 1,585.1 million, compared to RMB 1,560.5 million in 2020[6] - The group’s EBITDA rose from approximately RMB 3,000,000,000 in 2020 to approximately RMB 3,200,000,000 in 2021, indicating strong cash flow[48] - The profit attributable to the owners of the company increased from RMB 1,560,500,000 for the year ended December 31, 2020, to RMB 1,585,100,000 for the year ended December 31, 2021, primarily due to increased average selling prices and sales volume[72] - Basic earnings per share rose from RMB 28.7 cents for the year ended December 31, 2020, to RMB 29.1 cents for the year ended December 31, 2021[72] - The company reported a total comprehensive income of RMB 1,871,582 thousand for 2021, compared to RMB 1,579,410 thousand in 2020, an increase of approximately 18.5%[171] Asset and Liability Management - The company’s total assets increased by 41.0% to RMB 26,648.4 million from RMB 18,906.2 million in 2020[6] - The net debt increased by 123.1% to RMB 4,990.4 million from RMB 2,237.0 million in the previous year[7] - The net asset liability ratio increased from 21.2% in 2020 to 42.3% in 2021, still maintaining a relatively low level in the industry[48] - The company’s total equity increased by 12.0% to RMB 11,791,600,000 as of December 31, 2021, from RMB 10,527,200,000 in 2020[72] - The company’s cash and cash equivalents surged to RMB 3,507,715 thousand in 2021, compared to RMB 651,463 thousand in 2020, marking an increase of about 437.5%[173] Market Position and Sales - The company maintains a strong market position in the core markets of eastern and southern Shaanxi, benefiting from high transportation costs that create entry barriers[13] - Average selling prices in the central Shaanxi region have been rising despite low demand, with a stable profit margin due to significant market share and infrastructure demand[13] - The sales volume of aggregates increased significantly by 27.9% to 4.40 million tons from 3.44 million tons in 2020[6] - The average selling price of cement in 2021 was approximately RMB 339 per ton, up from RMB 301 per ton in 2020[55] - In Xinjiang province, sales volume and average prices increased due to government stimulus policies and the easing of the COVID-19 pandemic[49] Environmental Initiatives - The company's energy-saving and emission reduction measures have led to a 30% reduction in electricity consumption and a decrease of approximately 22,000 tons of CO2 emissions per million tons of cement produced annually[13] - The installation rate of the waste heat recovery system exceeds 80%, contributing to the company's sustainability efforts[13] - The company has installed De-NOx equipment at its plants in Shaanxi, Xinjiang, and Guizhou, reducing nitrogen oxide emissions by about 60% per ton of clinker[13] - The company continues to implement a "green building materials" strategy, increasing environmental protection investments and promoting industrial transformation[52] - The company is committed to developing green mining projects to reduce soil and mining site pollution[115] Strategic Plans and Future Outlook - The company plans to leverage the "Western Development Policy" and "Silk Road Economic Development Plan" to meet regional infrastructure demands[8] - The company plans to accelerate the implementation of a full industry chain development model, focusing on aggregates, ready-mixed concrete, and prefabricated houses to create new growth drivers[52] - The group expects to apply the revisions to the acquisition date starting from January 1, 2022, or the first annual period thereafter[188] - The company aims to strengthen its international development strategy and enhance project expansion efforts while maintaining a strong market position in its core markets[52] - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 1.32 billion[108] Governance and Compliance - The company has established a clear division of responsibilities between the chairman and the president to enhance governance[78] - The audit committee, consisting of three independent non-executive directors, has reviewed the consolidated financial statements for the year ending December 31, 2021[82] - The company has a whistleblowing policy to allow employees to report any misconduct confidentially[84] - The board believes that the risk management and internal control systems of the company are effective and sufficient[95] - The company ensures that its consolidated financial statements fairly reflect its operational status, performance, and cash flow, adhering to relevant laws and listing rules[96] Shareholder Engagement and Dividends - The board proposed a final dividend of RMB 0.087 per ordinary share for the fiscal year ending December 31, 2021, reflecting stable net profit[49] - The company has established a dividend policy to ensure shareholders can share in profits while maintaining liquidity for future growth opportunities[99] - The board will regularly review and reassess the effectiveness of the dividend policy, but it does not constitute a legal commitment for future dividends[100] - The company has disclosed the remuneration of directors in the financial statements, including names, amounts, and categories[87] - The company’s issued share capital is at least 25% held by the public as of the end of the fiscal year 2021[160]

目錄 2 公司資料 3 財務摘要 4 業務回顧 8 大事紀要 10 主席報告 15 管理層討論及分析 26 企業管治報告 35 董事及高級管理層 39 董事會報告 52 獨立核數師報告 56 綜合損益及其他全面收入表 57 綜合財務狀況表 59 綜合權益變動表 60 綜合現金流量表 62 綜合財務報表附註 140 本集團財務摘要 2 0 2 0 年 度 業 績 報 告 / 中 國 西 部 水 泥 有 限 公 司 2 公司資料 總部及中國主 要 營 業 地 點 中 國 陝 西 省 西 安 市 長 安 區 航 天 基 地 神 舟 四 路 3 3 6 號 堯 柏 研 發 培 訓 中 心 註 冊 辦 事 處 4 7 E s p l a n a d e S t H e l i e r J e r s e y J E 1 0 B D C h a n n e l I s l a n d s 香 港 主 要 營 業 地 點 香 港 尖 沙 咀 廣 東 道 9 號 海 港 城 港 威 大 廈 第 6 座 3 7 樓 3 7 0 5 室 公 司 網 站 w w w . w e s t c h i n a c e m e n t ...

目錄 2 公司資料 3 財務摘要 4 管理層討論與分析 18 權益披露 24 企業管治及其他資料 26 簡明綜合財務報表審閱報告 27 簡明綜合損益及其他全面收益表 28 簡明綜合財務狀況表 30 簡明綜合權益變動表 31 簡明綜合現金流量表 32 簡明綜合財務報表附註 公司 資料 總部及中國主要營業地點 中國陝西省西安市 長安區 航天基地 神舟四路336號 堯柏研發培訓中心 註冊辦事處 香港主要營業地點 香港 尖沙咀 廣東道9號海港城 港威大廈 第6座 37樓3705室 公司網站 www.westchinacement.com 董事會 執行董事 張繼民 （主席） 馬維平 （總裁） 非執行董事 馬朝陽 劉剡 范長虹 獨立非執行董事 李港衛 譚競正 朱東 47 Esplanade St Helier Jersey JE1 0BD Channel Islands 公司秘書 陳兢修 HKICPA 法定代表 馬維平 陳兢修 HKICPA 審核委員會成員 李港衛 （主席） 譚競正 朱東 薪酬委員會成員 譚競正 （主席） 張繼民 李港衛 朱東 提名委員會成員 張繼民 （主席） 李港衛 譚競正 獨立核數師 德勤 • 關黃陳 ...

Financial Performance - Total sales volume of cement and clinker reached 19.3 million tons, an increase of 6.0% from 18.2 million tons in 2018[6] - Revenue for the year was RMB 7,247.4 million, representing a 22.6% increase from RMB 5,911.7 million in 2018[6] - The net profit attributable to the owners of the company was RMB 1,801.3 million, a significant increase of 55.4% compared to RMB 1,159.4 million in the previous year[6] - The company’s basic earnings per share increased to 33.1 cents, up 55.4% from 21.3 cents in 2018[6] - The group’s EBITDA rose from approximately RMB 2,640,000,000 in 2018 to RMB 3,080,000,000 in 2019, indicating strong cash flow performance[19] - The company’s revenue increased by 22.6% from RMB 5,911,700,000 in 2018 to RMB 7,247,400,000 in 2019[37] - The company reported a significant growth in revenue, with a year-on-year increase of 15% in the last fiscal year[82] - The company reported a significant increase in revenue, achieving a total of 1.5 billion in the last fiscal year, representing a 20% year-over-year growth[84] Production Capacity and Sales - The company’s total production capacity reached 29.2 million tons, with 20 new dry-process cement production lines[8] - Aggregate sales volume surged to 1.98 million tons, a remarkable increase of 288.2% from 0.51 million tons[6] - The company’s cement production capacity increased to 29.2 million tons by the end of 2019, with aggregate and commercial concrete capacities reaching 15.1 million tons and 4.55 million cubic meters, respectively[15] - Cement sales volume rose by 3.9% from approximately 18,100,000 tons in 2018 to about 18,800,000 tons in 2019[37] - The company has expanded its operations in the western region of China, focusing on cement production and sales[158] Market Strategy and Expansion - The company plans to expand its market presence in the western regions of China, driven by government policies promoting economic development[8] - The company plans to enhance market demand analysis and strengthen sales coordination in response to the impact of COVID-19, aiming to capture opportunities from national infrastructure investment policies[23] - The company is optimistic about the demand outlook from regional infrastructure and urbanization for 2020 and beyond, despite a cautious approach[23] - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by 2025[84] Cost Management and Profitability - The gross profit margin improved slightly to 33.7% from 33.6% in 2018[6] - The group’s gross profit increased by 22.9% in 2019 due to improved pricing environment driven by strict environmental policies and intermittent production halts during the off-peak season[19] - The company continues to implement efficiency gains and cost reduction measures, maintaining stable costs in 2019, which significantly improved profitability[21] - Sales cost increased by 22.4% from RMB 3,926,000,000 in 2018 to RMB 4,806,900,000 in 2019, primarily due to rising employee costs in coal, raw materials, and cement production[39] Environmental Initiatives - The company is committed to energy conservation and emission reduction as a key focus for 2020 and beyond[16] - The company has been a member of the World Business Council for Sustainable Development (WBCSD) since 2015, participating in global sustainability initiatives[14] - The company’s production facilities are equipped with a waste heat recovery system with an installation rate exceeding 80%, reducing electricity consumption by approximately 30%[14] - The nitrogen oxide emissions per ton of clinker were reduced by about 60% due to the installation of De-NOx equipment across all production facilities[14] - The company has achieved a 60% reduction in nitrogen oxide (NOx) emissions per ton of clinker through the installation of De-NOx equipment across all plants in Shaanxi, Xinjiang, and Guizhou provinces[90] Financial Stability - The net debt to equity ratio decreased to 17.5%, down from 26.0% in the previous year, indicating improved financial stability[6] - The net asset liability ratio improved from 26.0% in 2018 to 17.5% in 2019, reflecting better financial health due to increased gross profit and cash flow[19] - The company’s total equity increased by 21.4% to RMB 9,225,700,000 as of December 31, 2019, compared to RMB 7,599,000,000 in 2018[41] Corporate Governance - The board is committed to maintaining high levels of corporate governance and transparency to maximize shareholder returns[47] - The company has established a clear division of roles between the chairman and the president, ensuring effective governance[51] - The audit committee, composed of three independent non-executive directors, reviewed the consolidated financial statements for the year ended December 31, 2019[61] - The company has established a remuneration committee to review and approve the remuneration policies for directors and senior management, ensuring competitive compensation packages to attract and retain talent[64] Shareholder Returns - Proposed final dividend increased to 6.3 cents per share, a 350.0% rise from 1.4 cents in the previous year[6] - The board proposed a final dividend of RMB 0.063 per share for the fiscal year ending December 31, 2019, following a significant increase in net profit[20] - The company has a dividend policy approved by the board on March 18, 2019, ensuring shareholders share in profits while maintaining cash flow for future growth opportunities[75] Risk Management - The group’s credit risk primarily arises from trade receivables and loans, with measures in place to control this risk by only engaging with reputable clients[46] - The company faces risks related to macroeconomic fluctuations in China, which may impact cement demand due to uncertainties in credit demand and GDP growth[91] Research and Development - New product development includes the introduction of low-heat slag cement, which has received recognition from the Shaanxi provincial government for its technological advancements[81] - Research and development expenses increased by 30%, reflecting the company's commitment to innovation and product development[84] Employee Development - The company emphasizes the importance of employee development through competitive compensation, performance evaluation programs, and training initiatives[92] - Employee benefits expenses rose to RMB 591,000,000 in 2019 from RMB 437,400,000 in 2018, indicating a focus on attracting and retaining talent[43]