Cement News tagged under: China Resources Cement

RSS feed

China Resources Cement issues profit warning for 2022

13 January 2023, Published under Cement News

China Resources Cement Holdings Ltd has issued a profit warning saying that it expects its profit attributable to owners of the company to contract by 74-78 per cent YoY in 2022. The fall is being attributed to a rise in the unit cost of sales of cement products by the group in 2022, compared to the previous year, along with lower sales volumes over the 12-month period. 2022 also saw lower average selling prices for cement and clinker in the regions in which the company operates, versus...

CR Cement opens new 10Mta aggregates line

23 December 2022, Published under Cement News

Production has begun at the new aggregates line of China Resources Cement ’s (CR Cement) subsidiary Guangxi Runhan New Materials in Guangxi Province, China. It marks the third large-scale aggregates project by CR Cement in Guangxi in the last two months following those in Shangsi and Tianyang. The 10Mta line, located in Nanning, officially commenced production on 21 December 2022 and marks an investment of CNY1.3bn (US$186m). Construction began in May 2022. The company says that the pro...

China Resources Cement releases profit warning

10 October 2022, Published under Cement News

China Resources Cement has issued a profit warning, stating that the company expects its profit attributable to the owners to contract by 64-66 per cent in the 9M22, compared to the same period a year earlier. The company is currently in the process of finalising its unaudited consolidated results for the opening nine months of this year, which are due to be published on 21 October, 2022.   

Chinese cement producers welcome construction boost

03 October 2022, Published under Cement News

Manufacturing activity in China has returned to growth with the country’s purchasing managers’ index for the manufacturing sector coming in at 50.1 in September, compared to 49.4 in the previous month, according to the National Bureau of Statistics. Any reading above 50 indicates expansion. The growth comes on the back of an easing of COVID-19 restrictions, recovering domestic demand and a package of macroeconomic stimulus policies.  The government's recent steps to stabilise prices, ease ...

China Resources reports turnover of HKD44bn in 2021

24 March 2022, Published under Cement News

China Resources Cement announced consolidated turnover amounted to HKD44bn (US$5.62bn) in 2021, representing an increase of 9.7 per cent over the previous year. Profit amounted to HKD7.8bn, or a decrease of 13.3 per cent when compared with 2020. External sales volumes of cement, clinker and concrete reached approximately 81.3Mt, 3.3Mt, and 14.8Mm 3 , respectively, in 2021. The capacity utilisation rates of cement, clinker and concrete production lines were 93.6, 100.6 and 40.9 per cent, r...

China Resources Cement reports 4% profit increase

16 March 2021, Published under Cement News

China Resources Cement has seen its profit attributable to owners rise four per cent YoY to HKD8.96bn (US$1.15bn) for 2020. The company also posted a turnover of HKD40.09bn in 2020, up 2.9 per cent YoY. Basic earnings per share reached HKD1.283, while a final dividend of HKD0.34 is expected to be distributed.

China Resources Cement records 11% rise in profit

24 August 2020, Published under Cement News

China Resources Cement saw its net profit rise 11 per cent YoY to HKD4.19bn (US$540.6m) for the first half of 2020. Revenue fell three per cent to HKD16.88bn, on the back of lower cement sales volumes. "The gradual stabilisation of infrastructure construction and the real-estate market, as well as the steady progress of urbanization and rural construction, will be conducive to the stable development of the cement industry," said the company.

China Resources Cement sees 8% increase in net profit

30 March 2020, Published under Cement News

China Resources Cement Holdings has reported an 8.1 per cent increase in net profit to HKD8.62bn (US$1.11bn) for 2019. Revenue inched up 0.4 per cent YoY to HKD38.96bn. The company attributed the improved profit margins to lower costs for cement sales. Since the company's principal business area is in mainland China, the yuan's weakness against the Hong Kong dollar in 2019 lowered the company's revenue in HKD terms.

China Resources Cement profit edges up 3% in 3Q

28 October 2019, Published under Cement News

China Resources Cement reported a 3.2 per cent YoY increase in 3Q profit to HKD9.31bn (US$1.19bn) in 2019 when compared with HKD9.02bn in the year-ago period. The company’s profit remained largely stable at HKD2.03bn in the 3Q19 when compared with HKD2.07bn in the 3Q18.

China Resources Cement sees 7% fall in net profit in 1H19

12 August 2019, Published under Cement News

China Resources Cement has reported a 6.5 per cent YoY drop in net profit to HKD3.77bn (US$480.8m) for the first six months of 2019, against HKD4.03bn in the corresponding period of last year. The company has attributed the results to falling sales of cement, clinker and concrete amid a slowing Chinese economy. Revenue declined six per cent to HKD17.41bn in the 1H19. The company has noted that it will continue to seek partnerships with domestic and overseas companies, according to a state...