Does the move of "cement brother" Anhui Conch Cement Company Limited(600585) mean that peers should hold together to keep warm?
Following the subscription of China West Construction Group Co.Ltd(002302) , another announcement was made on Anhui Conch Cement Company Limited(600585) on February 10, which will participate in the subscription of A-share non-public offering of Tianshan cement with its own capital of nearly 1 billion yuan. The subscription number is 74074100 shares, accounting for 0.86% of the total share capital after Xinjiang Tianshan Cement Co.Ltd(000877) This non-public offering, becoming the third largest shareholder of the listed company, and the share lock period is 6 months. In December 2021, Anhui Conch Cement Company Limited(600585) also announced to participate in the subscription of China West Construction Group Co.Ltd(002302) non-public offering shares with its own funds of 1.76 billion yuan, becoming the second largest shareholder of the latter in one fell swoop.
Anhui Conch Cement Company Limited(600585) said that (participating in fixed growth) is to focus on the main business of cement and promote the company to improve quality and efficiency. Xinjiang Tianshan Cement Co.Ltd(000877) as a large cement enterprise in China, conch has a strong influence in the cement industry. Equity cooperation with conch is conducive to the continuous strengthening, optimization and expansion of the company's main cement industry, as well as the healthy and orderly development of the cement industry.
"The purpose of participating in Xinjiang Tianshan Cement Co.Ltd(000877) is to send a signal to the market - you have me and I have you. Against the background of the current slowdown in the extension development of the cement industry, this is more conducive to the coordination and unification of the whole market and the promotion of industrial policies. Cement enterprises should hold together to keep warm and unify policies to jointly promote the healthy development of the industry." Insiders close to Anhui Conch Cement Company Limited(600585) told the reporter of Securities Daily.
invested 2.76 billion yuan to participate in peer fixed growth
Xinjiang Tianshan Cement Co.Ltd(000877) the report on non-public offering of shares was disclosed on February 10. The company finally decided to issue 314616900 shares to 16 investors at an issue price of 13.50 yuan / share, with a total fund-raising of 4.247 billion yuan. After deducting the issuance expenses, it will be used to supplement working capital, repay debts and pay the expenses of restructuring relevant cement enterprises under China building materials.
Many peers participated in the subscription. In addition to Anhui Conch Cement Company Limited(600585) subscription of 999 million yuan, Tangshan Jidong Cement Co.Ltd(000401) wholly-owned Hebei Jinyu Dingxin Cement Co., Ltd. subscribed 499 million yuan, and Gansu Shangfeng Cement Co.Ltd(000672) wholly-owned Zhejiang Shangfeng building materials Co., Ltd. subscribed 299 million yuan. Wuhu Xinda leveraged investment management partnership (limited partnership) controlled by China Xinda subscribed 399 million yuan; CAITONG fund subscribed 213 million yuan, Guotai Junan Securities Co.Ltd(601211) and e fund subscribed 185 million yuan respectively. In addition, the subscription objects include Harvest Fund, ubsag, Nord fund, Guoxin Investment and other institutions.
This is not Anhui Conch Cement Company Limited(600585) the first time to participate in peer fixed growth! On December 22, 2021, Anhui Conch Cement Company Limited(600585) announced that it would subscribe for China West Construction Group Co.Ltd(002302) nearly 252 million shares at a subscription price of 7 yuan / share. After the transaction, the shareholding ratio of Anhui Conch Cement Company Limited(600585) was 16.3%, becoming the second largest shareholder of China West Construction Group Co.Ltd(002302) .
An industry analyst told reporters: "Since 2016, when the cement industry recovered its high outlook, the whole industry has made significant profits, and the positive cycle has been maintained for six years. From the overall situation from 2021 to now, the cement price remains high, but the production capacity and demand have reached the ceiling. At present, the cement market fluctuates and turns, and there is likely to be a new cycle, which requires enterprises to be more united to deal with double carbon The challenge of goals. " He further said, "If conch's participation in the subscription of China West Construction Group Co.Ltd(002302) fixed increase is for the coordinated development of its main business and expand its own concrete business, this participation in Xinjiang Tianshan Cement Co.Ltd(000877) fixed increase is of deeper significance. The high operation of cement price also makes the market differentiation between regions more and more serious, Anhui Conch Cement Company Limited(600585) is mainly concentrated in high-priced South and East China, while Xinjiang Tianshan Cement Co.Ltd(000877) under China Building Materials Co., Ltd The regional market is broader. The greatest significance of conch holding Tianshan is to balance the impact of cement price difference between regions. "
form closer development with capital as the link
On the one hand, the carbon peak scheme and road map of the national cement industry will be officially introduced, on the other hand, the output and demand of the whole industry tend to be stable, and the extension development space of the main industry is limited. In this context, leading cement enterprises have gathered together to explore the road of transformation and development.
In 2021, Anhui Conch Cement Company Limited(600585) which has always been low-key began to stir the capital market. The company first increased its holdings of Jilin Yatai (Group) Co.Ltd(600881) by 5%, and then became the fifth largest circulating shareholder of Gansu Shangfeng Cement Co.Ltd(000672) .
"In the future, as long as cement enterprises issue additional conch, they will basically participate. If conch issues additional conch, I believe other cement enterprises will also participate." The aforementioned insiders said that only when we support each other can we form closer development.
In recent years, Gansu Shangfeng Cement Co.Ltd(000672) has carried out multi-directional cooperation with companies under conch group. In 2021, Shangfeng building materials and conch new materials jointly established conch Tongling new materials and other joint ventures in Tongling, Anhui Province; Shangfeng building materials and Anhui Conch Cement Company Limited(600585) also jointly participated in the China building materials new materials industry fund jointly initiated and established by the national mixed ownership restructuring fund, the national industrial transformation and upgrading fund and China building materials. With capital as the link, Anhui Conch Cement Company Limited(600585) and Gansu Shangfeng Cement Co.Ltd(000672) accelerated the construction of cooperative projects. On January 28, Anhui Conch Cement Company Limited(600585) and Gansu Shangfeng Cement Co.Ltd(000672) signed a contract for the joint construction of cement clinker production line in Andijan, Uzbekistan. Among them, conch International Holdings under Anhui Conch Cement Company Limited(600585) holds 51% of the equity of the joint venture, and Gansu Shangfeng Cement Co.Ltd(000672) holds 49% of the equity of the joint venture together with Uzbek joidam company, the former shareholder of the joint venture project. The three parties plan to jointly promote the project construction.
The cooperation between Anhui Conch Cement Company Limited(600585) and CNBM is also deepening, such as Triumph Science & Technology Co.Ltd(600552) a listed company of CNBM. Conch group said on February 6 that it would continue to strengthen cooperation with Triumph Science & Technology Co.Ltd(600552) in new materials and new energy. In addition, Gansu Shangfeng Cement Co.Ltd(000672) also announced on January 21 that it had signed a strategic cooperation agreement with Sungrow Power Supply Co.Ltd(300274) subsidiary sunshine new energy to jointly implement a series of photovoltaic energy storage projects.
"No turning!" According to the aforementioned insiders, the extension growth space of the main cement industry has reached the boundary, and only a new track can be selected (the enterprise can continue to develop and grow). This requires a time difference between investment and growth. Invest first and then grow. During the 14th Five Year Plan period, conch group will invest a total of 200 billion yuan in four aspects: Cement main industry chain, new energy, new materials and digital industrialization, so as to consolidate the main industry and form new advantages.
