Cement News tagged under: Anhui Conch

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Anhui Conch issues positive profit alert

26 July 2017, Published under Cement News

In its latest profit alert announcement, Anhui Conch Cement expects to have a significant improvement in results and record an increase of about 90-110 per cent in its net profit for the six months ended 30 June 2017 as compared to that for the corresponding period in 2016. Taking into account the holding of about 36.78 per cent equity interest in Conch Cement by Conch Holdings and the level of the Group's profit attributable to Conch Holdings for FY2015 and FY2016, the group is forecast ...

Shengli and Kaifa resign from Anhui Conch

07 July 2017, Published under Cement News

Qi Shengli, supervisor and chairman of the supervisory committee of Anhui Conch, has tendered his resignation from the company, according to a statement released on 30 June. His resignation will become effective upon the appointment of a new supervisor, the Chinese cement producer noted. In addition, Yang Kaifa has resigned as company secretary of Anhui Conch, effective 28 June 2017. Chiu Pak Yue Leo remains a company secretary. A replacement for Mr Yang is to be recruited. In the interim...

Anhui Conch attributable profit up 86%

27 April 2017, Published under Cement News

Anhui Conch Group’s net profit attributable to equity shareholders increased by 86.41 per cent YoY in the first quarter of this year to CNY2.153bn (US$312m). Operating profit rose by 139.4 per cent in the reporting period and total profits were up by 92.81 per cent. The increases were partly attributed to the YoY rise in sales volumes and selling prices of the group’s products. Revenues rose 28.58 per cent to CNY13.6bn in the first quarter of this year. Non-operating income decreased by...

China: new economic zone to boost cement companies' shares

06 April 2017, Published under Cement News

When the Shanghai stock market opens on Wednesday next week it is expected to see cement company shares rocket on the back of the announcement of a new Chinese economic zone outside Beijing at Xiongan New Area. The special economic zone will be three-times the size of New York with apartments and wetlands in northern Hebei province. The zone will be 100km southwest of Beijing and will cover 2000km 2 and will be similar to the economic ones in Shenzhen and Shanghai. Queues of potentia...

China: order and growth

06 March 2017, Published under Cement News

Following a drop in apparent cement consumption in 2015, China’s cement industry has been destocking ever since. As a result, the country’s cement market has started 2017 on a positive note with cement inventories reported to be decreasing. This resilience is supported by improved producer discipline, increased cooperation between top players and robust government investment in infrastructure and housing. By Addison Dai, DBS Vickers, Hong Kong. China’s cement plants, such as Heidelber...

Anhui Conch

19 October 2016, Published under Cement News

Shares in Anhui Conch are being shorted at a level five times higher than that seen earlier in the year, prompting concerns over the future of cement share prices. China’s cement demand is currently being driven primarily by the country’s property market, which some analysts say is starting to cool off after a period of extreme growth. According to figures from the National Bureau of Statistics, however, new construction starts in China rose by 14 per cent in September, marking the fastes...

China: Anhui Conch most shorted stock amid economic concerns

07 October 2016, Published under Cement News

Shares in Anhui Conch have become the most shorted on the Hong Kong stock exchange as doubts grow over the sustainability of China’s property boom, Bloomberg reports. Disagreements over the future path of the Chinese property sector have led to Anhui’s shares being shorted at a level five times higher than was the case earlier in the year. While some investors are betting that a cooling property market will bring down the cement firm’s share price, other analysts think the company’s prosp...

SDIC new projects in Indonesia

08 September 2016, Published under Cement News

State Development & Investment Corp (SDIC), China’s largest State-owned investment holding company by fund volume, has plans to expand its investment portfolio over the next five years, from cement factories to power plants, nickel ore mines and ports in Indonesia. The company recently began construction of the first phase of a new cement plant in West Papua last week, a 16-month project which represents a US$329m investment and aims to achieve a production capacity of 1.5Mta following co...

Indonesia: Chinese plant begins production in West Papua

30 August 2016, Published under Cement News

A new cement plant funded by China’s State Development and Investment Corporation (SDIC) has begun operations in the Indonesian state of West Papua, China Daily reports. The 1.5Mta plant was designed by Anhui Conch and forms part of SDIC’s wider investment strategy in Indonesia. The plant was built at a cost of CNY2.2bn (US$329m) over a 16-month period. Li Bing, vice president of SDIC, said: "Restrained by weak industrial and logistics foundations in certain parts of Southeast Asia, ma...

China: Anhui Conch profits down 29% for 1H2016

23 August 2016, Published under Cement News

In its trading statement for the first six months of 2016, Anhui Conch has reported that its net revenues fell one per cent YoY to CNY24bn (US$3.6bn), while profits slipped further, falling by 28.8 per cent to CNY3.4bn (US$506m). The company noted that while Chinese demand for cement continued to grow in the first half of 2016, intense competition and overcapacity had had a negative effect on profits. However, a 13.7 per cent fall in costs - driven by lower prices for raw material, power,...