On March 9, Asia Cement (China) Holding Company officially released the audited annual results announcement for the year ended December 31, 2025. As a core enterprise in the production and sales of cement, concrete and related products in China, Asia Cement (China) withstood the downward pressure of the industry in 2025 and successfully turned its performance into profit.
The announcement shows that in 2025, Asia Cement (China) realized annual revenue of 5.109 billion yuan, a decrease of 13.19% compared with 5.885 billion yuan in 2024, with a decrease of 776 million yuan; The net profit of the group during the year was 89.126 million yuan, compared with a loss of 263 million yuan in the same period in 2024, an increase of 352 million yuan over the same period last year, completely reversing the loss situation of the previous year. Among them, the profit attributable to the owners of the company reached 85.724 million yuan, while the loss attributable to the owners of the company in the same period in 2024 was 264 million yuan. The profit performance achieved a qualitative leap, with a basic profit per share of 0.055 yuan, completely saying goodbye to the trend of loss per share of 0.168 yuan last year.
In order to repay the support of shareholders, the board of directors of the company proposes to distribute a final dividend of 3 cents per share, which is expected to be formally distributed on July 10, 2026 after the approval of the shareholders'meeting. This is also a positive signal released by the company to the market after turning around its losses, demonstrating the confidence of the management in the follow-up operation.
In view of the year-on-year decline in revenue, the announcement clearly pointed out that it was mainly due to the double decline in sales volume and average selling price of the Group's products in 2025. In 2025, the overall demand of the domestic cement industry continued to be weak, real estate investment was still in the downward channel, infrastructure investment rarely fell, combined with the rainy weather in the middle and lower reaches of the Yangtze River, southwest and other core markets, the construction progress of the project slowed down, the demand for cement terminals continued to be depressed, and the overall volume and price of the industry fell into the norm. From the perspective of
regional market, the cement demand in the middle and lower reaches of the Yangtze River, which is the core layout of the company, is low throughout the year, the market shows a trend of "high before and low after", and several rounds of price increase plans have not been implemented; although the Sichuan region shows a "V-shaped" trend, the market gradually recovers in the second half of the year, but the overall demand for the whole year is still less than that of the previous year. In this industry environment, the cement sales volume of Asia Cement (China) declined year on year, and the product price declined synchronously due to the intensified market competition, which directly led to the decline in revenue.
Despite the decline in revenue, Asia Cement (China) has achieved a significant reversal in profitability by virtue of precise cost control and operation optimization, which is also the biggest highlight of this performance. In 2025, the gross profit of the company reached 699 million yuan, a significant increase from 593 million yuan in 2024, and the gross profit rate increased from 10% in 2024 to 14%, an increase of 4 percentage points, which became the core driving force for turning losses into profits.
Profit improvement is mainly due to two major factors: First, the cost of core raw materials declined, the overall price of coal market fell in 2025, the company's fuel costs were significantly reduced, the cost of sales decreased by 17% year-on-year, the decline far exceeded the decline in revenue, directly increasing gross profit space; Second, the internal operation efficiency was improved, the company strictly controlled the administrative expenses, and the annual administrative expenses decreased by 5% compared with the same period last year. At the same time, the financing cost benefited from the decline in the average borrowing interest rate, which decreased by 33% compared with the same period last year. Multiple cost optimization measures combined to effectively offset the impact of the decline in volume and price. In the
face of fierce competition in the domestic market, Asia Cement (China) will take the initiative to adjust its business strategy in 2025, while stabilizing the core regional market. Officially start the clinker export business, open up overseas incremental channels, and ease the pressure on the domestic market. At the same time, the company closely follows the industry policy guidance, actively responds to the industry's "anti-involution" call, strengthens regional industry coordination, optimizes inventory management, and alleviates the contradiction between supply and demand in the market.
For the 2026 development plan, the company said that it would continue to adhere to the business strategy of high efficiency, high quality and high environmental protection, continue to promote cost reduction and efficiency enhancement, improve customer service; at the same time, consolidate the core market share, maintain overseas export channels, and further develop overseas business. Although there is still downward pressure on the demand of the cement industry in 2026, with the start of the "15th Five-Year Plan", infrastructure investment is expected to gradually recover, and the supply and demand pattern of the industry may be gradually optimized. The company will seize the policy opportunities, meet the challenges of the industry, and continue to create value for shareholders and the industry.
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