Cement News tagged under: China Resources Cement
UBS raises China Resources target price, maintains ‘buy’ rating18 March 2014, Published under Cement NewsUBS has raised its target price for China Resources Cement to HK$7.3 from HK$6 and maintained its ‘buy’ rating. The research house expects the South China cement market to remain solid in 2014-15. Market quoted cement prices in Guangzhou and Nanning have been CNY110/t (32.8 per cent) and CNY90/t (33.3 per cent) higher YoY, respectively. UBS said the Chinese cement producer is negotiating with the local government about taxes and it could receive a rebate in 2014. It has upgraded Chi... |
China Resources net profit increases 43.6% in 201310 March 2014, Published under Cement NewsChina Resources Cement Holdings Ltd earned a net profit of CNY3.34bn (US$544m) in 2013, a YoY increase of 43.6 per cent, the company announced on Friday. Meanwhile, operating revenue grew 15.8 per cent YoY to CNY29.34bn. The Hong Kong-based cement producer attributes the upward trend in performance to decreasing manufacturing costs and coal prices. |
Guangdong Tapai Group and China Resources sign cooperation agreement18 February 2014, Published under Cement NewsGuangdong Tapai Group has reached an all-round strategic cooperation agreement with China Resources Cement Investment. According to reports by Sinocast, the two parties will strengthen partnership in production technologies, energy saving and emission reduction, marketing, procurement and logistics, new projects and corporate culture. |
CRC profit alert, China15 January 2014, Published under Cement NewsChina Resources Cement said the group's profit attributable to the owners of the company for the year ended 31 December 2013 is expected to be substantially higher compared with last year. The company attributed the performance to the higher sales volume of cement and clinker, and improved gross margin. |
China Resources Cement vice chairman of the board resigns24 December 2013, Published under Cement NewsYu Zhongliang has resigned from his position as vice chairman of the board, executive director and member of the executive committee of China Resources Cement (CRC), effective 1 January 2014. A statement released yesterday by CRC’s board directors said Mr Zhongliang has decided to step down “due to his pursuit of other work allocation by the China Resources Group.” |
Daiwa raises CRC target price, China17 October 2013, Published under Cement NewsDaiwa Research raised its target price for China Resources Cement (CRC) to HK$6.6 from HK$5.95, and retained its "buy" rating. The research house cited management noting that the market has been overly pessimistic on cement prices for south China, as many analysts seem to have misread the capacity growth in the region. While many production lines are pending to be built in the region, not all are able to get full approval, the research house said. With slower capacity growth and improv... |
Positive view on China Resources-Fujian Energy collaboration04 October 2013, Published under Cement NewsDaiwa Research holds positive view on China Resources Cement's agreement with state-owned Fujian Energy to jointly develop and expand the cement and concrete business in Fujian Province. The research house expects the alliance with Fujian Cement should further increase CR Cement's market share in the province. While Fujian Cement's earnings capability looks weak (it reported net losses for 2012 and 1H13), the house believes CR Cement could help improve Fujian Cement's operational efficienc... |
China Resources Cement 1H13 profit rises12 August 2013, Published under Cement NewsChina Resources Cement (CRC) said yesterday that its net profit attributable to shareholders of the company increased 80.35 per cent YoY to HK$1.15bn (US$148.29m) in the first half of this year. Basic earnings per share were at 17.6 HK cents, and an interim dividend of 3.5 HK cents was declared. The firm's turnover rose 16.5 per cent YoY to HK$12.86bn in the first half. Gross profit jumped 29% YoY to HK$2.97bn in the period, and gross profit margin was about 23.1 per cent in the period, u... |
UBS cuts China Resources Cement target price17 June 2013, Published under Cement NewsInvestment bank UBS has trimmed its target price for China Resources Cement (CRC) to HKD4.85 from HKD5.5. The company's stock, however, has been upgraded from ‘neutral’ to ‘buy’. It noted that CRC's share price has already pulled back by about 30 per cent from its first quarter peak level, and believes the negatives in the macro environment and the local cement market have already been largely factored in, ET Net News reported. CRC has been steadily climbing up the ranks of Chinese cement ... |
China Resources Cement in talks with Fujian Cement over joint venture29 May 2013, Published under Cement NewsTwo leading China-based cement producers, China Resources Cement and Fujian Cement, are reported to be in discussions to set up a joint venture grinding plant as well as a sales and marketing company, according to reports by local press. No agreement has been confirmed yet. China Resources Cement is also in discussions with Fujian Energy Group Company Ltd regarding cooperation with Fujian Building Materials Holdings Company Ltd, a subsidiary of Fujian Energy and the controlling shareholder... |