Cement News tagged under: China Shanshui Cement Group

RSS feed

China Shanshui Cement Group posts CNY14.92bn turnover

26 June 2018, Published under Cement News

China Shanshui Cement Group has posted a turnover of CNY14.92bn for FY17. The figure represents a 32.2 per cent advance when compared with FY16, when the company’s turnover reached CNY11.28bn. Attributable profit for the period reached CNY767.9m, from a loss CNY738.3m in FY16.

CEO of Shanshui Cement Group resigns

20 March 2018, Published under Cement News

China’s Shanshui Cement Group has announced that its CEO and executive director, Li Heping, has resigned with immediate effect. Elsewhere, Liu Yiu Keung has stepped down from his role as chairman of the board and executive director of the company. Li Zhiqiang has also resigned from his position as vice chairman of the board and executive director. Following this, Li Liufa has been appointed as the chairman of the board and an executive director of Shanshui Cement.

HK Stock Exchange may propose delisting China Shanshui Cement

27 October 2017, Published under Cement News

China Shanshui Cement Group Ltd said the Hong Kong stock exchange would seek to delist the firm if it was not able to restore a minimum public float of 25 per cent of its issued share capital by the middle of next year. The cement producer has been embroiled in a bitter boardroom battle involving investors and executives, and has been suspended from trading in the past two-and-a-half years, according to Reuters. The stock exchange had warned the company that it would have until 30 ...

China Shanshui unit takeover

01 February 2016, Published under Cement News

China Shanshui Cement Group said it has taken over the headquarters of its main operating unit, Shandong Shanshui Cement Group Ltd, following a management dispute. The Chinese manufacturer "has smoothly taken over the headquarters and additional three factories” of the Shandong Shanshui Cement, with the assistance of the local police in the northern city of Jinan, it said in a filing dated 31 January. The firm, which defaulted on onshore debt last year, announced plans in January to repay...

China Shanshui begins legal proceedings against two former directors

04 December 2015, Published under Cement News

China Shanshui Cement Group said after trading hours Thursday that it has begun legal proceedings against former directors Zhang Caikui and Zhang Bin for alleged unlawful conduct and breach of fiduciary duties. Both Zhangs have been removed as directors of Shandong Shanshui, a unit of the Hong Kong-listed cement company, and the company has terminated their roles in the company for "their misconduct and negligence," it said in an exchange statement. (Source: Dow Jones)

Shareholders of China Shanshui Cement Group vote to keep chairman

15 October 2015, Published under Cement News

Shareholders of China Shanshui Cement Group Ltd have voted to keep Chairman Zhang Bin at a meeting in Hong Kong Tuesday, Bloomberg reports. The Shandong-based group held an extraordinary general meeting (EGM) during which a proposal from its largest shareholder – peer Tianrui International Holding Co – to get rid of Zhang was rejected after receiving a 99.9 per cent no vote, according to statement to Hong Kong stock exchange today. Tianrui International, which has a 28.16 per cent interest,...

Shandong Shanshui Cement issues 210 day bills

15 April 2015, Published under Cement News

Shandong Shanshui Cement Group Ltd, a subsidiary of China Shanshui Cement Group Ltd, announced that it issued CNY2bn (US$321.8m) unsecured super short-term bills with a maturity of 210 days on the interbank market on 14 April. The corporation said in a statement that the bills will be issued at the face value, and the coupon rate determined in the process of bookbuilding. Both value date and payment due date is set on 16 April, and the to-be-issued bills tradable on the 17 April. The pro...

Fitch Ratings revises China Shanshui Cement Outlook

08 January 2015, Published under Cement News

Fitch Ratings has revised China Shanshui Cement Group Ltd's Outlook to Negative from Stable. Meanwhile, Shanshui's Long-Term Issuer Default Rating (IDR) and senior unsecured ratings have been affirmed at 'BB'. The Outlook revision reflects Shanshui's slower-than-expected deleveraging process, mainly driven by weaker cash flow generation due to the lower cement average sell price (ASP). "We expect Shanshui to be able to sustain its financial leverage, measured by FFO adjusted net leverage r...

Shanshui Cement announces 2013 gross profits of US$617.7m

24 March 2014, Published under Cement News

During the 12-months ended 31 December 2013, China Shanshui Cement Group Ltd’s revenue reached CNY16,535m (US$2667.85m). Gross profit was CNY3829m while profit from operations reached CNY2557m. Profit attributable to equity shareholders of the company was CNY1017m. Basic earnings per share reached CNY0.36. The Board recommended the payment of a final dividend of HKD0.092/share (US$0.01/share) for the year ended 31 December 2013. Mr Zhang Bin, chairman and general manager of Shanshui Ceme...

Standard & Poor’s downgrades China Shanshui Cement, China

02 August 2013, Published under Cement News

Standard & Poor's Ratings Services has lowered its long-term corporate credit rating on China-based cement producer China Shanshui Cement Group Ltd to 'BB-' from 'BB' due to a weakening of the company’s financial strength against a backdrop of challenging operating conditions. The outlook is negative. The agency also downgraded the company's outstanding senior unsecured notes to 'B+' from'BB-'. At the same time, S&P lowered its long-term Greater China regional scale rating on Shanshui to '...