Cement News tagged under: Anhui Conch

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Anhui Conch announces management changes

21 June 2024, Published under Cement News

Anhui Conch Cement has announced the resignation of Zhou Xiaochuan as executive director, joint company secretary, and member of the ESG Committee, effective from June 19, 2024. Yu Shui has been appointed joint company secretary and authorised representative, and is nominated as a candidate for executive director, awaiting shareholder approval at an upcoming extraordinary general meeting, according to Anhui Conch.

Anhui Conch revenue up 7% YoY in 2023

22 April 2024, Published under Cement News

Anhui Conch Cement has beaten analyst expectations by posting revenue of CNY141bn (US$19.5bn). This marks a 6.8 per cent increase on the previous year. Net income in 2023 came in at CNY10.7bn, down 33 per cent on 2022, while the profit margin fell 12 per cent YoY in 2023. According to the company, the decline in margin was driven by higher expenses. Earnings per share in 2023 stood at CNY2.02, compared to CNY2.99 in 2022. 

Anhui Conch in 2Q23 totals CNY6.8bn

23 August 2023, Published under Cement News

Anhui Conch Cement ’s first-half net profit of CNY6.8bn   (US$932m) is lower than expected, falling 32 per cent YoY. The decline is due to lower average selling prices and weak cement demand.   Conch still outperformed the industry given that some of its peers delivered a sharper drop in earnings. Morgan Star has lower its 2023-25 earnings forecasts by 18-19 per cent.  While Morgan Star still expects a recovery for the sector, it forecast that this would be gradual, given China’s slu...

China starts CCUS focus

14 July 2023, Published under Cement News

This week China announced the launch of its largest carbon capture, utilisation and storage (CCUS) project for the cement sector to date. The China United Qingzhou Co Ltd's 200,000tpa "Carbon Dioxide Full Oxygen Combustion Enrichment and Purification Demonstration Project" can be considered one of China's early pioneering trials for CCUS. As the largest producer of cement in the world, China is not expected to achieve peak CO 2 emissions until 2027. However, with China's leading engineer...

Asian outlook on carbon capture, utilisation and storage

18 November 2022, Published under Cement News

This week Asia Cement announced that it would be employing TCRK's Arago Cement Process to utilise captured CO2, cement kiln dust and by-pass particles in the cement production process in South Korea from 2025. ICR reviews the opportunities for carbon capture utilisation and storage (CCUS) for cement producers in the Asian region. The Asia Cement Co project will include a fully commercial-scale deployment of TCRK CCUS technology. Initially it will target 30,000tCO 2 e per year, rising to 1...

Anhui Conch sees revenue fall 30% in 3Q22

31 October 2022, Published under Cement News

Anhui Conch has reported revenue of CNY29,052m (US$4006m) in the third quarter of 2022, down 29.6 per cent on the same period a year earlier, after adjustment. Net profit attributable to equity shareholders over the same period declined by 65.3 per cent to CNY2578m. This has been attributed to rising energy costs, particularly coal prices, and a decline in the sales price of the group’s products. Basic earnings per share have contracted from CNY1.40 in the 3Q21 to CNY0.49 in the same perio...

Chinese cement producers welcome construction boost

03 October 2022, Published under Cement News

Manufacturing activity in China has returned to growth with the country’s purchasing managers’ index for the manufacturing sector coming in at 50.1 in September, compared to 49.4 in the previous month, according to the National Bureau of Statistics. Any reading above 50 indicates expansion. The growth comes on the back of an easing of COVID-19 restrictions, recovering domestic demand and a package of macroeconomic stimulus policies.  The government's recent steps to stabilise prices, ease ...

Anhui Conch reports drop in profit in 2021

28 March 2022, Published under Cement News

China-based Anhui Conch saw its profit slip to CNY33.3bn (US$5.2bn) in 2021 when compared with CNY35.19bn in the previous year, according to Dow Jones Newswires. The company’s revenue in 2021 declined to CNY167.95bn, down from CNY176.29bn in 2020, as market demand softened. Anhui Conch said it expects to continue to face low market demand this year, as well as high raw material and energy costs.

Anhui Conch works with China Telecom and Huawei to roll out 5G smart plant

05 October 2020, Published under Cement News

A 5G end-to-end smart factory system developed by China Telecom and Huawei is enabling Anhui Conch to reduce its energy consumption and increased its productivity, resource utilisation and profitability, according to Conch Group Deputy General Manager, Hé Chengfa. It has taken two years to develop and implement the smart factory concept, with the first going into production in Chuzhou, Anhui province. "The cement factory has been transformed into a smart factory end-to-end," said Mr Hé...

Anhui Conch's 1H20 profit rises 5.3%

24 August 2020, Published under Cement News

Anhui Conch Cement's net profit rose in the 1H20, on the back of a resumption of construction projects in Asia and higher sales in western China. However, due to the COVID-19 pandemic, cement sales volumes fell across the regions the company operates in, except for west China. The cement company's net profit increased by 5.3 per cent to CNY16.09bn (US$2.33bn) during the period, the company reported. First-half operating revenue rose 3.3 per cent to CNY74.01bn. The company said it will se...