CNBM Ltd. Releases 2020 Annual Results
Facing the severe and complex domestic and international environment, especially the severe impact of the COVID-19 pandemic, CNBM Ltd. overcame the difficulties and achieved positive revenue growth. In 2020, CNBM Ltd. achieved revenue of 254.762 billion yuan, up 0.5% year-on-year, net profit of 21.645 billion yuan, up 17.5% year-on-year, net income attributable to parent of 12.553 billion yuan, up 14.4% year-on-year, net cash flow from operating activities of 64.230 billion yuan, up 1.4% year-on-year. CNBM Ltd. achieved sales of cement clinker of 389 million tons, commercial concrete of 112 million cubic meters, aggregates of 78.91 million tons, gypsum boards of 2.015 billion square meters, fiberglass yarn of 2.88 million tons, wind turbine blades of 17.32 GW, and engineering services of 39.915 billion yuan.
Cao Jianglin, Board Chairman of CNBM Ltd., believes that the industry will continue to be in the "dual platform period" in 2021, i.e. demand platform period and supply platform period. During the demand platform period, the demand for the building materials industry, especially the cement industry, is expected to remain basic. During the supply platform period, supply improvement is expected to be promoted through supply-side structural reform and carbon emission reduction; overproduction is expected to be addressed through off-peak production, environmental protection production restriction, self-discipline production restriction, etc.; overcapacity is expected to be reduced through strict reduction and replacement, ultra-low emissions, phase-out of 32.5 cement grade, etc.