Cement News tagged under: Anhui Conch

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Chinese companies ink Indonesian plant agreement

26 September 2014, Published under Cement News

Two Chinese companies signed an agreement on Thursday to jointly invest in an Indonesian cement factory as part of investment cooperation measures agreed by the two countries in 2013. State Development and Investment Corp (SDIC) and Anhui Conch Cement Company (Conch) will fund the project of building production lines and relevant facilities of the factory located in West Papua Province. After the construction is completed, the factory will have a capacity of 3Mta, serving for Indonesia'...

Anhui Conch issues positive profit alert, China

03 July 2014, Published under Cement News

Yesterday, Anhui Conch said it expects first-half net profit up about 90 per cent YoY compared to CNY3.06bn (US$492.75m) a year earlier. The advance is being attributed to increased product sales and prices. Dow Jones cited a report by Barclays which says higher sales and lower coal prices are responsible. "We expect the share price to react positively" Thursday but the stock may "then fall back on ongoing seasonal weakness in cement prices," Barclays says. This may persist throughout the...

Capital Group buys a 9.25% stake in Anhui Conch

07 May 2014, Published under Cement News

The Capital Group Co spent HKD159.21m (US$20.53m) to acquire 5.55m shares in Anhui Conch Cement Co Ltd on 30 April, sources reported, citing the Hong Kong Stock Exchange. After the purchase, the USA investor holds a combined 120.20m shares (a 9.25 per cent stake) in the Anhui province-based Chinese cement producer.

Conch full-year net profit rises 48.3%

26 March 2014, Published under Cement News

Anhui Conch Cement Co reported a 48.3 per cent YoY increase in profit attributable to shareholders during 2013 to CNY9.38bn (US$1.5bn) from CNY6.33bn a year ago. Turnover increased 20.75 per cent to CNY55.26bn from CNY45.77bn in 2012. In accordance with PRC Accounting Standards, the group’s revenue amounted to CNY55.3bn, a YoY increase of 20.28 per cent.  Sales by region Clinker and cement sales amounted to 228Mt, representing growth of 21.95 per cent YoY. Sales volumes in East and Cent...

Conch expects strong rise in 2013 profit

15 January 2014, Published under Cement News

Anhui Conch, the leading cement producer in China by market value, said it expects a 50 per cent rise in net profit attributable to shareholders for 2013. In 2012, the company posted a net profit of CNY6.31bn (US$1.043bn) with basic earnings per share of CNY1.19.  According to a statement filed with the Shanghai Stock Exchange, the company said the improved performance in 2013 was due to steady growth in consumption and a reduction in new capacity coming onto the market.  Over the ...

Anhui Conch and Asia Cement sign strategic partnership deal

08 January 2014, Published under Cement News

Anhui Conch and Taiwan producer Asia Cement have signed a strategic partnership to explore overseas markets and share expertise in environmentally-friendly technologies. The two companies are yet to divulge the details of their planned co-operation. However, it is understood they will explore opportunities in sharing green technologies, management expertise, market and product expansion and cost control. They will also tap possibilities for Anhui Conch to enter the Taiwan market and joi...

Anhui Conch

20 December 2013, Published under Cement News

China’s stocks rose to their highest level since October earlier this month led by materials including cement. Anhui Conch posted a 3.4 per cent rise to CNY18.47 in the first week of December as cement prices in many parts of China continued to climb. China’s cement prices rose 0.8 per cent week-on-week at the end of November, followed by a 0.5 per cent rise in the opening week of this month, marking the eight consecutive week of increase. In Zhejiang, Anhui, Jiangsu, Hubei and Guangdong pri...

Anhui Conch Cement Co

02 December 2013, Published under Cement News

Anhui Conch has reported a 14.76 per cent rise in revenue in 9M13 to CNY37.01bn (US$6.08bn), compared to the same period last year. Operating profit has also increased from CNY4.3bn to CNY6.6bn and net profit has risen almost 40 per cent to CNY5.6bn. During 3Q13 the group’s operating profit, total profit and profit attributable to equity shareholders increased by 141.6 per cent, 132.92 per cent and 128.37 per cent, respectively, compared to the same period last year. This has been mainly ...

Anhui Conch Cement Co

28 October 2013, Published under Cement News

Pingliang Conch Cement, a subsidiary of Anhui Conch Cement Co Ltd, has been awarded special funds of CNY3m (US$492,802) in recognition of its energy saving achievements. The award made by the Environmental Protection Bureau of Gansu Province marks the company’s successful use of denitration and denitrification technology to meet national, provincial and municipal energy conservation standards. During 2013 the company has invested in a number of energy saving technology innovations. By Aug...

JP Morgan lifts stake in Anhui Conch

25 October 2013, Published under Cement News

JPMorgan Chase & Co purchased 2.05 million shares (a 0.16 per cent stake) in Anhui Conch Cement Co Ltd on 17 October, increasing the stake to 12.12 per cent, according to the Hong Kong Stock Exchange. After the purchase, JPMorgan bought the shares HK$26.95/ share and for a total of HK$ 55.25m (US$7.13m).