Comprehensive review: In 2025, BBMG Jidong will achieve an operating income of 24.501 billion yuan, a year-on-year decrease of 3.11%; the net profit attributable to the parent company will be 219 million yuan, turning losses into profits on a year-on-year basis (a loss of 991 million yuan in 2024). In 2025, Jinyu Jidong actively responded to the deep adjustment of the industry, continuously optimized the regional layout, strengthened cost control, and promoted the extension of the "cement plus" industrial chain. Benefiting from the decline in the price of raw materials and fuels such as coal, the implementation of internal cost reduction and efficiency enhancement measures, and the better operation of projects in South Africa, the company has successfully turned losses into profits. As the largest cement enterprise in the north, the company's market control in core areas such as Beijing, Tianjin and Hebei has been continuously strengthened, and its leading position in the industry has been further consolidated.
Figure 1 and 2: Revenue of BBMG Jidong in 2025, Trend
of profit Data source: Cement Big Data (https://data.ccement.com/)
Turned from loss into profit with resilience Continuous improvement
of operation quality In 2025, facing the severe situation of continuous decline in demand and intensified market competition in the domestic cement industry, Jinyu Jidong firmly promotes the key tasks of "ensuring efficiency, optimizing layout and stabilizing growth", and improves the quality of operation by optimizing production organization, strengthening cost control and deepening lean management. The sales volume of cement clinker of the Company was 83.45 million tons, representing a slight year-on-year decrease of 1.1%, significantly outperforming the industry as a whole. Its market share in core regions such as Beijing, Tianjin and Hebei maintained a stable and positive trend, and its leading position continued to be consolidated. Despite the decrease in the average selling price of cement clinker, the comprehensive cost of cement clinker decreased significantly throughout the year, benefiting from the decrease in coal price and the implementation of internal cost reduction and efficiency enhancement measures. Gross profit per ton was recorded at RMB48.3 per ton, representing a year-on-year increase of 24.9%. In 2025, the annual operating income was 24.501 billion yuan, down 3.11% from the same period last year. Thanks to the obvious increase in gross profit per ton of cement clinker, the company realized a net profit of 219 million yuan and successfully turned losses into profits (a loss of 991 million yuan in the same period in 2024).
Figures 3 and 4: Sales volume and gross profit
per ton of BBMG Jidong in 2025 Data source: Cement Big Data (https://data.ccement.com/)
In terms of other profit indicators, the comprehensive gross profit rate was 22.14%. Earnings per share was RMB0.08, representing a year-on-year increase of 121.62%; return on equity increased by 4.3 percentage points to 0.79%, representing a slight increase. The rate of three fees decreased by 1.1 percentage points to 17.78%, and the effect of cost control was obvious.
Table 1: Main operating data
of BBMG Jidong in 2025 Data source: Cement big data (https://data.ccement.com/)
Accelerate the construction of "cement plus" development pattern The industrial chain extension has achieved remarkable
results. In 2025, while strengthening the main cement industry, Jinyu Jidong continued to further promote the construction of the integrated industrial system of "cement plus" industrial chain extension, and the scale of extended industries such as aggregates and commercial mixing continued to expand. In terms of aggregate business, relying on the advantages of cement mine resources, the company continued to promote the construction of aggregate projects, and the production capacity and sales volume of aggregates increased steadily, with operating income of 1.976 billion yuan, an increase of 7.88% over the same period last year. In recent years, the company has accelerated the layout of concrete business, optimized the layout of commercial mixing stations, enhanced regional synergy, and produced more than 10 million cubic meters of concrete. In addition, the company actively expands the environmental protection industry, promotes the co-disposal of waste in cement kilns, while achieving economic benefits, actively fulfills its social responsibility, and helps to achieve the goal of "double carbon".
Figure 5: BBMG Jidong Aggregate Revenue Continues to Grow
Source: Cement Big Data (https://data.ccement.com/)
Overseas business is gradually developing and operating efficiency continues to improve
in 2024. Jinyu Jidong completed the acquisition of Jidong Mamba Cement Co., Ltd. and achieved "zero breakthrough" in overseas clinker production capacity, marking the success of Jinyu Jidong in opening up the international market. At present, Mamba Company, located in the north of South Africa, has an annual clinker production capacity of 870,000 tons and a cement production capacity of 1 million tons, with a total profit of over 100 million yuan in 2025. It has a good profitability and contributes a large profit to the company.
Market outlook: The domestic and overseas business performance is expected to grow
in 2026. Domestically, driven by national strategies such as the coordinated development of Beijing, Tianjin and Hebei and the construction of Xiongan New Area, the market demand in the core area of Jinyu Jidong is expected to remain relatively stable; In March 2026, the company intends to acquire 21% equity of Jinyu Concrete Group Co., Ltd. to speed up the construction of an integrated development pattern and enhance the profitability of the company. Abroad, it is expected that the company's overseas business will continue to improve and continue to contribute to profit growth. Overall, the operating performance of Jinyu Jidong in 2026 is expected to continue to improve and achieve growth. (This article does not constitute investment advice)
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