山水水泥2024年年报

(I). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2(II). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4(III). . . . . . . . . . . . . . . . . . . . . . . . .6(IV). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8(V). . . . . . . . . . . . . . . . . . . . . . . . . . .20(VI). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .38(VII). . . . . . . . . . . . . . . .47(VIII). . . . . . . . . . . . . .53(IX). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .63(X). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .93(XI). . . . . . . . . . . . . . . . . . . . . . . . . . . . .100(XII). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .106(XIII). . . . . . . . . . . . . . . . . . .107(XIV). . . . . . . . . . . . . . . . . . . . . . . . . . . . .108(XV). . . . . . . . . . . . . . . . . . . . . . . . . . . . .110(XVI). . . . . . . . . . . . . . . . . . . . . . . . . . . . .111(XVII). . . . . . . . . . . . . . . . . . . . . . . . . . .113 ( I ) ( I ) 5710.012024531 . 202485202453120245312024531 20245312024531 2024852024531202453120245312024531202485 ( I I ) . (1)China Shanshui Cement Group LimitedCSC(2)P.O. Box 31119 Grand Pavilion, Hibiscus Way,802 West Bay Road, Grand Cayman, KY1-1205,Cayman Islands(3)33191912(4)http://www.sdsunnsygroup.com(5)(6)(7)200874(8)(9)00691(10)(11)183171712–1716(12)(13)() 1. 2. ( I I I ) 3. 4. (1) 200642620079620087400691)100% Pioneer Cement 100%Pioneer Cement100% Pioneer Cement2005 114 20500 ( I V ) (2) #Pioneer Cement(25.49%)(75.00%)(75.00%)(45.00%)(99.00%)(70.00%)(25.00%)(25.00%)(18.10%) (3) ( I V ) ( I V ) ( I V ) 1. 2024 202418.259.5% 20241,54318.1310202453%20236 ( V ) 1. 3636537043385152241845 10% ( V ) 1. 20244567420%50-100200 3941.9% 620-30 2024355180-190 ( V ) 1. 20243692023348.4%377225.5% 2024 2024202425020% ( V ) 2. 14,509,866,00019.9% 20237,655,0003,512,00014.5%34.0%2023779,00025.5%2024 20238.268.23.0%18.6%20233.51.6% 2024461,4422023674,1611.0%20231.3% ( V ) 2. (2) 42,13014.2%2,82719.7% 2. (3) ( V ) 2. 85.6%3.83.82.00.21.11.0 2024965.39.7%872.020242023117.0114.220242023112.911.8%99.6 ( V ) 2. 20242,093,842,00020231,912,607,00014.4%202310.6%63% 236,679,000190,143,000 2024123139,610,00020231231259,750,000(i)(ii) 317,920,000279,593,00012.1% 1,535,013,0001,168,523,00023.9% ( V ) 2. 218,273,000215,934,0001.1% 172,567,000125,000,00027.6% 189,041,00020231,050,106,000861,065,00082.0% ( V ) 3. 202412311.8%30,222,319,000202330,773,414,0001.1%18,192,206,000202318,403,464,0002024123114.9%202313.5%2024123120231231 20241231 ( V ) 3. 202412315,365,460,0002023233,003,0003,797,750,00070.8%20241231654,000,000615,000,000 202412311,203,025,000 2434(b)(iii) ( V ) 3. 824,115,000 20241231 202412311,085,833,0002023190,096,00014.9%202412311,093,908,000 ( V ) 3. 538,173,000113,945,000 648,958,000982,651,000 27,992,0001,282,385,000 ( V ) 3. 202431926,295,00070%8 2024123124 2024123136 ( V ) 4.2025 (a) 202420252025 202520252025202520245%-7% 152,300202581,200202520252025 20242025 ( V ) 4.2025 (b) 2025 1. 2. ( V ) 4.2025 (b) 3. 4. 5. 6. 20241231 40 2024(IV)(V)20241231 106 20241231 ( V I ) 202551920255222025516183171712-1716 11039 202412312,738,982,000閲39 X1.20181011 ( V I ) 202412315,427,00020235,660,000 14 2024123130%30% ( V I ) 3.13 20245312024315 13.51B(1) 1.202482.20244297433.2024611 ( V I ) 3814A ()2024123114A 2024417 (a)(b)(c)(d) 14A20244172024429 ( V I ) 20241231 3000–740– •••• ( V I ) 14A.55 a. b.c. 201612282020 (1)(2)(3) ( V I ) 2024123116.35 (1)20207.5089.91(2)20168.5031.345(3)20207.50484.97115%73.473(4)91.22(5)30.42 202412319.23 14A.90 (X) C2 2025312 ( V I I ) . 20241231100,000,00010,000,000,0000.01 202412314,353,966,228 . (1) 20241231XV23336 ( V I I ) . (1) (1)L(2a)70%30%(2b)2016322791,000,00020216822019425201937160,462,00020227252023327220222242023220951,462,000951,462,000(3)201411182China Shanshui Investment Company Limited(4)428,393,000YuYuan Investment Corporation Limited317142,643,000(5)317(6)(7)Shen Neng International SPC – Green Planet SPShen Neng Investment Management Limited(8)202412314,353,966,228 ( V I I ) . (1) 20241231XV23336 (2) 20241231XV78352C3 . ( V I I ) . 2008614 10%260,336,000260,336,000 20115257,400,0007.832015127163,700,000CSI20,000,00023,600,0003.68 2015593HCMP593/2015CSI20152.073CSICSI2016162015817282015127 43,600,000 20115257,400,00017.03(3)1 2015127163,700,00073,800,000400,00017.03(3)1 2015127 ( V I I ) . 20241231170,436,00065.47%202412314,353,966,2283.91% 202412 3189,900,000202412 314,353,966,2282.06% (1)17.03A 89,900,0002025127 (i)(ii)(iii)(iv)(v) ( V I I ) . 202311 1.2.3. 121% 201152520115251020151276201512710 (i)(ii)5(iii) 1.00 200874201874 . ( V I I I ) 1. (2) (a) 55202485Pioneer Cement ( V I I I ) 1. (2) (a) 202062023220232202472024