Jidong Cement 07 net profits leaps 75%

Jidong Cement 07 net profits leaps 75%
Published: 14 March 2008

Tangshan Jidong Cement Co reports its net profits attributed to parent company reached CNY368m in 2007, surging 74.94% YoY.

In the annual report, the company’s total cement production capacity hit 25Mt by the end of 2007, and sold 17.8826Mt, growing 30.05%. The operating revenue was about CNY3.86bn, mounting 32.58%.

Based on the shining performance, Jidong Cement hopes the operating revenue in 2008 to hit CNY5bn and the increment will mainly come from capacity expansion. It announced in January 2008 that it would spend CNY 1.4bn building two new dry clinker production lines in Hunan Province, and each of them can produce 4500tpd of cement.

Plants in Beijing-Tianjin-Hebei Region, Jilin, Liaoning, Shanxi Provinces, and the Inner Mongolia Autonomous Region contribute the most production capacity of Jidong Cement and North China is expected to be the most important market to help the company achieve its CNY5bn sale goal.