BBMG, one of the largest building materials manufacturers on the mainland and a leading property developer in Beijing, has announced profits in all its business segments.
BBMG operates four core businesses, including cement, modern building materials, property development and property investment and management. All sectors recorded revenue growth for the 12 months that ended on December 31 last year, thanks to the rapid expansion of the property market on the mainland.
'The company coped with the changing conditions proactively, worked out business strategies effectively, capitalised on development opportunities accurately, and leveraged on our strengths in strategic planning, industrial chain, management integration, technology and branding,' says Jiang Weiping, chairman of BBMG.
The company benefited from the economic stimulus packages introduced by the central government to tackle the global financial crisis and promote domestic economic development.
The results have encouraged the company to boost its market share through mergers and acquisitions, and re-organise its cement operations this year.
'According to market forecasts, the global economy is expected to recover gradually, while the mainland economy will continue to maintain fast growth,' Jiang says. 'We will continue to seize market opportunities arising from favourable policies introduced by the government in order to further expand strategic businesses in Beijing to other areas such as Hebei province, Tianjin and Chongqing.'