Cement News tagged under: Anhui Conch

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Morgan Stanley sees China recovery from 4Q12

17 September 2012, Published under Cement News

Morgan Stanley (MS) believes that the China cement industry showed some early signs for recovery, noting that prices have stopped declining on rising property construction following accelerating land sales. In addition,  land sale revenue can help governments on construction capital. Therefore, MS believes that cement demand has turned steady, and a recovery can be expected in 4Q12 - 2013. The Bank added that with the slump in earnings, the cement manufacturers reduced capital expenditu...

China: first half profit concerns

09 July 2012, Published under Cement News

With disappointing economic data emanating from China recently, a number of domestic cement producers have issued profit warnings for the first half of 2012 of between 30-50 per cent. While some of these manufacturers have reported improving market demand since the second quarter, pressure on cement prices is likely to persist.   An increasing number of Chinese companies across the board are feeling the pinch of a slowdown in the overall economy as investment, factory output and retail sale...

Gansu Qilianshan Cement issues profit warning

02 July 2012, Published under Cement News

Gansu Qilianshan Cement Group expected its first-half net profit to fall at least 50 per cent YoY and follows warnings from other industry peers. According to reports in China Knowledge, the company said in a statement filed with the Shanghai Stock Exchange that the sharp decrease in net profit was due to a significant YoY decline in cement price amid weak demand. Anhui Conch has also issued a similar profit warning, expecting a 50 per cent drop in first-half profit. China Resources Ce...

Anhui Conch issues profit warning, China

08 June 2012, Published under Cement News

Anhui Conch warned on Thursday that it expects net profit for the six months ending June to decrease "considerably" YoY because of weaker demand for cement. The company estimated the net-profit fall for the first half to be "more than 50%." The company said demand growth for cement has been declining since the beginning of 2012 and selling prices for cement products have dropped significantly from a year earlier owing to slower growth in China's fixed-asset investment. "Since the sec...

Daiwa reduces Anhui Conch price target, China

30 May 2012, Published under Cement News

Daiwa Research reduced its target price for Anhui Conch to HK$23 from HK$29.5, and downgraded the stock to "hold" from "outperform". The house said cement demand and selling prices in eastern China and along the Yangtze River, the key market for Conch, have been weaker than expected year-to-date. But Daiwa expects the situation to improve in 2H on the back of the central government's loosening policies.

Anhui Conch outlook

28 May 2012, Published under Cement News

HSBC has upgraded China-based Anhui Conch Cement to Overweight from Neutral, with an unchanged target price of HK$27.20. It tips "value emerging" for China cement sector, as recent price hikes in Hangzhou (in Zhejiang province) helps to stabilise cement prices in Eastern China. The house expects a gradual resumption of railway projects and acceleration of social housing construction to underpin demand in 2H12 Meanwhile, UBS has trimmed its target price for Conch to HK$31 from HK$36.5, an...

Citi cuts CNBM, Conch target price, China

11 May 2012, Published under Cement News

Citi Group has cut the target price of Chinese players CNBM to Sell and Anhui Conch to Neutral and outlines the latter's latest moves in terms of suspended and new capacity. “We think the industry affiliation in East China market is breaking down. Mills are restarting suspended production lines to recoup volume. Demand is recovering, as we expected, however not as fast as the supply resumption. Price pressure should materialize in the next one to two quarters,” the house said in a statem...

Anhui Conch net profit falls 43.61%, China

20 April 2012, Published under Cement News

Anhui Conch Cement said yesterday that its net profit dropped 43.64% YoY  to CNY1.25bn in the first quarter of this year, due to falling cement prices and rising production costs. Operating revenue was CNY8.86bn in the first three months, 4.9% less than in the same period of 2011. Cement sales, however, rose 10.3% YoY to 33Mt in the first three months, but its average sales price fell 13.8% YoY (7% QoQ) to CNY268/t. Earlier the company reported a net profit of CNY11.59bn for last year,...

Anhui Conch net profit up 87.8%, China

27 March 2012, Published under Cement News

Anhui Conch announced an 87.8% rise in net profit YoY to CNY11.59bn (US$1.8bn) on the back of higher prices and sales. This figure was in line with the company’s guidance released in January when it said it expected net profit to rise more than 80 per cent. Revenue in 2011 was up 41% to CNY48.65bn from CNY34.51bn. During the year, the company sold 158Mt of cement and clinker in 2011, up 15.22 per cent YoY. It also added 33.6Mt of clinker capacity in 2011, taking total volumes to 164Mt by...

Conch plans to start building Indonesian plant this year

15 March 2012, Published under Cement News

China-based Anhui Conch Cement said it plans to begin construction of a new cement plant in South Kalimantan, Indonesia, later this year. Following a meeting with a delegation from China's Anhui province, Indonesia’s Industry Minister MS Hidayat told the Jakarta Post: "The planned plant in South Kalimantan will be able to produce 2.5Mta of cement.” Conch is currently awaiting the completion of its land acquisition process and a license to be issued by the South Kalimantan administratio...