Conch Group, one of the world's top 500 building materials companies in China, lost again!

Fortune Chinese released the latest Fortune 500 list simultaneously with the world. The total revenue of Fortune 500 companies

this year is about 41.7 trillion US dollars, more than one third of global GDP, an increase of about 1.8% over last year. The listing threshold (minimum sales revenue) increased from $32.1 billion to $32.2 billion. The combined net profit of all listed companies increased by about 0.4% year-on-year to about $2.98 trillion.

Among them, China Building Materials Group Co., Ltd. ranked 351st. In the

list, China Resources Co., Ltd., which includes cement business, ranked 67th, and China Energy Construction Group Co., Ltd. ranked 228th.

It is noteworthy that Conch Group, which entered the list of the world's top 500 for five consecutive years from 2019 to 2023, continued to fail this year. Conch Cement is the core enterprise of Conch Group. The annual report of Conch Cement in 2024 shows that the operating income in 2024 is 91.03 billion yuan, down 35.51% year on year; the net profit attributable to shareholders of listed companies is 7.696 billion yuan, down 26.19% year on year.

In addition, Saint-Gobain from France and CRH from Ireland ranked 302 and 457 respectively.

At present, the cement industry is facing the double test of energy saving, environmental protection and industrial intelligence upgrading. In order to implement the relevant policy requirements and accelerate the green low-carbon transformation and high-quality development of the cement industry, China Cement Network is scheduled for September 23-24. The 14th China Cement Energy Conservation and Environmental Protection Technology Exchange Conference and the 6th Intelligent Summit Forum were held in Zibo, Shandong Province. This conference will bring together industry experts, enterprise representatives and many industry stakeholders to gather group wisdom and promote energy-saving, environmental protection and intelligent transformation and upgrading of the cement industry. During

the meeting, we will also organize a visit to the demonstration project of Qingzhou Zhonglian Cement Co., Ltd. with an annual output of 200000 tons of carbon dioxide oxy-fuel combustion coupled carbon capture.