During the reporting period, the revenue generated by Conch Material Technology's sales to Conch Cement accounted for approximately 52.5%, 41.6%, 31.8% and 30.7% of the former's total revenue for the period, respectively. Conch Material Technology has been the company's largest customer during the reporting period.
In addition, as of June 30, 2024, the company's trade and other receivables reached 879 million yuan, accounting for 36% of total assets. The amount of accounts receivable is large, but the payment period is mainly russia telegram data within 1 year.
The trade receivables turnover days increased from 68.8 days in fiscal year 2021 to 99.7 days in the six months of 2024, mainly due to longer credit terms granted to certain customers and an increase in overdue trade receivables.
In addition, the capacity utilization rate of Conch Material Technology is not high, among which the capacity utilization rate of cement admixtures and amine products has declined; from 2021 to January-June 2024, the capacity utilization rate of cement admixtures decreased from 68% to 32.6%, and the capacity utilization rate of amine products decreased from 97% to 36.1%.