China’s reports sound performance in January-May

China’s reports sound performance in January-May
Published: 01 September 2008

China’s cement output increased nine per cent to 514Mt, and sales revenue soared 23.6 per cent to CNY160.7bn in January-May, according to Guangzhou Metal Trading Center.

The average price increased 10.1 per cent in May due to the growing coal cost and market demands.

The profit posted CNY8.41bn in January-May, up 65.4 per cent year on year.

Huaxin Cement posted 31 per cent increase in operating revenue to CNY2.725bn, and 74 per cent increase in net profit to CNY190m in its first half report.

In view of increasing demand, the investment in fixed assets soared 56.6 percent to CNY25.9bn in January-May, up 16.5 percentage points over January-March, but posted an actual increase rate of less than 50 per cent after excluding the price hike of raw materials.

The additional cement production capacity is expected to be 157Mt, and the net production capacity will be 90Mt, much lower than the demands.