Cement News tagged under: China Resources Cement
Moody's assigns definitive Aa1 to China Resources Cement bonds05 November 2012, Published under Cement NewsMoody's Investors Service has assigned a definitive Aa1 rating to the 5-year bonds issued by China Resources Cement Holdings Ltd. Moody's has removed the rating from provisional status upon the closing of the transaction. The rating outlook is negative. |
China Resources Cement to issue US$400m credit enhanced senior bonds28 September 2012, Published under Cement NewsChina Resources Cement said it has priced the US$400m 2.125 per cent credit enhanced senior bonds due 2017 following a book-building exercise conducted by DBS as sole global coordinator and bookrunner. The bonds will be issued at an issue price of 99.75 per cent and will bear an interest rate of 2.125 per cent per annum payable semi-annually in arrears. CR Cement currently intends to use the net proceeds of about US$389m for refinancing and general corporate purposes. In connection with t... |
Guangdong producers buy CO2 permits19 September 2012, Published under Cement NewsFour cement producers in China's Guangdong province have bought 1.3 million CO2 permits from the local government at CNY60/unit (EUR7.25), according to local press. China Resources Cement, Sinoma, Taipai and Yangchun Hailuo bought the permits in a bid to hedge their carbon exposure as they plan to expand cement production capacity by 25Mta over the next few years, newspaper 21st Century Business Herald reported on Tuesday. Under the Guangdong Emissions Trading Scheme (ETS), the biggest... |
China Resources Cement 1H net down 69%13 August 2012, Published under Cement NewsChina Resources Cement said its profit attributable to owners dropped 68.9 per cent YoY to HK$635m (US$81.9m) for the six months ended 30 June 2012. Turnover was up 9.8 per cent from a year earlier to HK$11.03bn. Consolidated gross margin was 20.8 per cent, representing a decrease of 12.3 percentage points from 33.1 per cent for the corresponding period last year. |
China: first half profit concerns09 July 2012, Published under Cement NewsWith 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 warning02 July 2012, Published under Cement NewsGansu 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... |
China Resources Cement's 1H profit likely to fall 21%27 June 2012, Published under Cement NewsChina Resources Cement has warned of a sharp drop in gross profit margin in 1H12 to 21 per cent from the 33 per cent last year as selling prices for cement products have fallen. "Starting from 2012, the market selling prices of cement products in China have continued to drop generally. Inevitably, the selling prices of the group's cement products have been impacted," it said in a statement on the Hong Kong stock exchange. |
China Resources Cement prices weaken in1Q201207 May 2012, Published under Cement NewsChina Resources Cement Holdings Ltd, the largest cement producer in South China, saw its average sales price decline 6% or RMB20/t Y-on-Y to RMB340/t in the first quarter of this year, noted Deputy Chairman Yu Zhongliang. Yu noted that the firm's gross margin narrowed to 20% during the low season. But he believes the company gross margin would reach 30% this year, as sales prices began to rebound at the beginning of April. Sales volume surged 33% from a year earlier in the first quarter ... |
China Resources 2011 sales rise, expansion plans06 March 2012, Published under Cement NewsChina Resources Cement Holdings, reported a rise in revenues for 2011 and outlined plans for further capacity expansion. The company, which is the largest cement producer in South China, earned HK$4.18bn in net profit attributable to shareholders last year, reflecting YoY increase of 105 per cent. Last year the company’s cement, clinker and concrete sales surged 49.4 per cent, 104.3 per cent and 28.4 per cent, respectively. Average cement sales prices increased 10 per cent to CNY369.5... |