Cement News tagged under: BBMG Corporation
China: BBMG Corp’s CFO resigns04 September 2015, Published under Cement NewsWang Hongjun, BBMG Corp’s chief financial officer, has resigned his post due to 'work re-designation' without further elaboration. The Beijing-headquartered cement producer and property developer did not disclose the replacement of Mr Wang, adding Mr Wang had also ceased to be an authorised representative of the company. |
BBMG Corporation to acquire stake in Hebei Taihang Xuaxin, China30 April 2013, Published under Cement NewsBBMG Corporation has entered into an agreement to acquire a 66.67 per cent stake in Hebei Taihang Xuaxin Building Materials Co from BBMG Group Company Ltd. The transaction is valued at CNY131.88m (US$21.15m) in cash and will be paid by BBMG to BBMG Group Company within 15 days after the date of the equity transfer agreement. |
Macquarie more positive on China cement sector07 March 2013, Published under Cement NewsResearch 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... |
BBMG Corp sees fall in net profit on lower prices, China16 January 2013, Published under Cement NewsBBMG Corporation said its preliminary net profit attributable to shareholders dropped 26.48 per cent YoY to CNY2.52bn (US$405) in 2012 mainly due to a decline in selling prices for its products. The Chinese cement producer said basic earnings per share were CNY0.59, a decline of 27.16 per cent from a year earlier. Total operating revenue was CNY33.29bn, representing a YoY rise of 15.83 per cent. Operating profit fell 21.7 per cent to about CNY2.8 billion. |
JP Morgan expects improved China pricing environment29 October 2012, Published under Cement NewsJP Morgan has raised its target price for BBMG Corp to HK$6.5 from HK$5.5 and maintained its “neutral” rating and sees improved trading conditions in the second half of 2012. It said that the Chinese company’s nine month results were in line with expectations with the weakness due to sluggish demand and a tough pricing environment throughout the industry. JP Morgan expects the pricing in the second half of 2012 will be better as new capacities coming on line will be lower and the rece... |
Credit Suisse lowers BBMG Corp target price30 March 2012, Published under Cement NewsCredit Suisse lowered its target price for BBMG Corporation to HK$9.6 from HK$11.9, and maintained its "outperform" rating. The research house said the China-based producer reported weaker FY2011 results and CS has therefore revised down its earnings by 23% for 2012 to reflect the persistent pressure on cement margin. But it added that valuation remains undemanding at this point. Credit Suisse expects a moderate improvement in 2012 from the low base in 2H11. |