Cement News tagged under: Anhui Conch

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JPMorgan sells stake in Anhui Conch, China

06 August 2013, Published under Cement News

JPMorgan Chase & Co sold 3.89 million H-shares (translating to a 0.3 per cent stake) in Anhui Conch Cement Co Ltd on 29 July 2013, decreasing the stake to 10.91 per cent, according to the Hong Kong Stock Exchange. JPMorgan sold the stake at HKD22.95/share and for a total of HKD89.28m (US$11.5m). .

Anhui Conch

02 July 2013, Published under Cement News

Further details have been released on the US$17bn dam project involving Anhui Conch and the state-owned China Power Investment Corporation. The dams, which are being built in Indonesia’s North Kalimantan province on the island of Borneo, are part of a hydropower plant project designed to generate 7000MW of electricity by 2015. Work is due to begin in January 2014, subject to a feasibility study and environmental assessment impact study. In the first week of June, JPMorgan Chase & Co sold ...

JPMorgan sells 2.65m shares in Conch Cement

06 June 2013, Published under Cement News

JPMorgan Chase & Co sold 2.65 million shares in Anhui Conch Cement Co Ltd for a total of HKD70.2m (US$9m), according to the Hong Kong Stock Exchange. After the sales, JPMorgan still holds 218.54 million shares (a 16.82 per cent stake) in the Hong Kong-listed cement producer, China Business Newswire reports. The sale was completed on 29 May 2013.

Anhui Conch reports first quarter decline, China

23 April 2013, Published under Cement News

China’s second-largest cement producer by capacity, Anhui Conch Cement, reported a decline in first-quarter net profit but an improved pricing environment has begun to emerge in the company’s key regional markets. Conch said its net profit attributable to shareholders for the first three months of 2013 declined 22.18 per cent YoY to CNY972m. Operating revenue was CNY9.91bn, an increase of 11.8 per cent from a year earlier. On its outlook, Morgan Stanley said: "we still like Conch's...

Goldman positive on Eastern China markets

23 April 2013, Published under Cement News

Goldman Sachs said it remains positive on China's cement sector but continues to be regionally and stock selective. The investment bank expects further upside to cement prices in Eastern China, given its current lowest inventory across the regions, and least new capacity additions in the year, benefiting Anhui Conch and CNBM. However, Northern/Southern China's cement prices are already under pressure from high inventory/overcapacity. Goldman estimated NSP capacity to increase by 11 and 1...

Macquarie more positive on China cement sector

07 March 2013, Published under Cement News

Research house Macquarie is turning more positive on the cement sector and expects to see more signs of downstream demand recovery in mid-2013 following a recent market visit. Macquarie has lifted its target price for Anhui Conch to HK$30 from HK$17.5, and upgraded the stock to "neutral" from "underperform".  It has increased its 2013-14 earnings forecast by 8-11 per cent to factor in stronger consolidation-driven volume growth in the coming 2-3 years. Macquarie is It has also lifted i...

Nomura cautious on China demand growth and average prices

21 January 2013, Published under Cement News

Investment bank Nomura is bearish on China cement but is less positive than the market on 2Q13 and 2013 demand growth and potential average selling prices (ASP). The house has analysed 138 railway projects in China and found the net incremental cement consumption for 2013 for 2013 to be 16t less than last year. Normura also explored more reliable property new-starts data and concluded that cement demand from the property sector would fall 1.1 per cent YoY in 2013 to 615Mt. It believ...

Anhui Conch earnings outlook raised, China

26 October 2012, Published under Cement News

Despite Anhui Conch posting a 67 per cent YoY decline in third quarter net profit, Credit Suisse and Citigroup see an improved outlook for the Chinese cement major. Credit Suisse said that Conch’s results "were solid in the context of a very difficult quarter for the industry”. The house estimates unit gross profit to average at CNY80/t in 4Q12, leading to a potential net profit of CNY2.4bn. "We believe consensus downgrades have come to an end at this point, and estimate that the market is...

JPMorgan acquires 2.41m H-shares in Conch Cement

18 October 2012, Published under Cement News

JPMorgan Chase & Co purchased 2.41 million H-shares in Anhui Conch Cement Co Ltd, a major cement producer in China, at HK$ 24.28 per share, a total value of HK$ 58.62 million, media reported, citing information released by the Hong Kong Stock Exchange. After the purchase, JPMorgan will hold 197.21 million shares (or a 15.18% stake) in Conch Cement. (Source: China Business Newswire)

Anhui Conch Cement sees strong September sales and output growth, China

17 October 2012, Published under Cement News

The start of peak seasonal demand in China has boosted Anhui Conch's September sales and output as average prices register weekly gains. A China Securities Journal report said on Wednesday, which cited a number of brokers, said that subsidiaries of the cement giant have been running at full capacity, and some of their output in September has hit new high. In addition, some subsidiaries have exceeded the target output and sales tasks for September and the third quarter of this year. Its Hu...