Lusaka, Zambia, 28th March 2024 –Chilanga Cement Plc a member of Huaxin Group has demonstrated resilience and strength in its business model, reporting a solid financial performance for the year ended 31 December 2024, despite a challenging operating environment.

Despite increased competition, the El Niño-induced drought, and load shedding, Chilanga Cement continued to expand its market presence both locally and in export markets. The Company recorded a 34% increase in sales revenue, reaching K2,720 million, compared to K2,030 million in 2023. Profit before tax also rose by 16% to K743 million, up from K640 million in the previous year.

In recognition of this strong performance, an interim dividend of K1.5 per share was proposed and paid in 2024, compared to K1 per share in 2023. The Board of Directors has further proposed a final dividend of K2 per share at the Annual General Meeting today, bringing the total dividend payout to K3.5 per share for 2024, up from K2.5 per share in 2023.

Speaking at the AGM, held today at Intercontinental Hotel, Board Chairman Mr. Muna Hantuba commended shareholders for their continued trust in the company and applauded management for their innovation and operational improvements.

“2024 was certainly full of surprises – a fluctuating national economy, the El Niño-induced drought, and load-shedding. Despite these setbacks, Chilanga Cement emerged strong, demonstrating resilience in the face of adversity,” he said.

Meanwhile, Chief Executive Officer Mr. Chai Jianping reaffirmed the company’s commitment to delivering shareholder value.

“Through hard work and careful planning, with a focus on maximizing output, we remain resolute in 2025 and will continue to improve across all areas,” he said.

Chief Financial Officer Mr. Ezron Lesa highlighted the company’s commitment to investment and diversification beyond cement, announcing the upcoming launch of dry mortar and a waste shredder under the Eco Unit, reinforcing Chilanga Cement’s focus on sustainability and long-term growth.

Shareholders commended Chilanga Cement, under the Huaxin Group, for its continued operational improvements, strong financial performance, and diversification into lime and dry mortar, which will be launched later this year.

Chilanga Cement remains committed to innovation, quality, and operational excellence, ensuring sustained growth and value for its shareholders in the evolving cement industry.

For media inquiries, please contact:

Gift Danga (Mr)

Corporate Affairs and Communications Manager

Tel: +260211 367 561

zambia.communication@huaxincem.com