Cement News tagged under: China
Ultra-fine low-carbon cementitious material developed25 April 2024, Published under Cement NewsResearchers at Anhui Southern Cement Co, China, have developed an ultra-fine low-carbon cementitious material that can be used to improve the properties of concrete and cement. The new material is made from slag powder and fly ash, waste products from the steel and coal industries. This study found that replacing cement with new materials can effectively improve the mechanical properties of concrete. In the cement production process, replacing 15 per cent of cement raw materials with ne... |
Anhui Conch revenue up 7% YoY in 202322 April 2024, Published under Cement NewsAnhui Conch Cement has beaten analyst expectations by posting revenue of CNY141bn (US$19.5bn). This marks a 6.8 per cent increase on the previous year. Net income in 2023 came in at CNY10.7bn, down 33 per cent on 2022, while the profit margin fell 12 per cent YoY in 2023. According to the company, the decline in margin was driven by higher expenses. Earnings per share in 2023 stood at CNY2.02, compared to CNY2.99 in 2022. |
Tianrui stock crash linked to margin call19 April 2024, Published under Cement NewsThe 99 per cent drop in the stock of China Tianrui Group Cement Co last week triggered a margin call for a major shareholder and wiped out nearly all of its market value. About 4.53 per cent of the company's stock was "forcibly sold in the open market due to the unusual price drop" on 9 April, the company said in a filing. The 133.1m shares were held in the margin accounts of controlling shareholder Yu Kuo Co, which is indirectly owned by non-executive director Li Liufa and his spouse, re... |
West China Cement welcomes new CEO17 April 2024, Published under Cement NewsWest China Cement has announced the resignation of Mr Wang Fayin as an executive director of the company, effective from 16 April 2024. It has also named Ms Wang Rui as the new executive director and chief executive officer, also with effect from 16 April 2024. Ms Wang is vice-chair and party secretary of the general branch of Yaobai Special Cement Group Co Ltd, a wholly-owned subsidiary of West China Cement. She has held that role since January 2023 and is responsible for overseeing t... |
China Tianrui Group Cement shares drop 99%10 April 2024, Published under Cement NewsChina Tianrui Group Cement Co Ltd shares fell 99 per cent to around HKD0.05 (US$0.006) on 9 April, pushing its market capitalisation to HKD141m. About 281m, a third of the company’s shares, changed hands during the sell-off. Of this total, more than 80m shares were traded in the last minutes of the closing auction. The Cayman Island-incorporated company said trading in its Hong Kong-listed shares would be suspended at 9.00h local time on 10 April pending an announcement related to insider in... |
China starts public consultation on emissions accounting and verification guidelines09 April 2024, Published under Cement NewsChina is carrying out a public consultation on drafting guidelines regarding emissions accounting and verification for the country’s cement sector until 15 April 2024. This would lay the foundation for the sector’s inclusion in the national compliance carbon market, according to the Ministry of Ecology and Environment. The consultation document only provides instructions for companies how to calculate and report their emissions and for provincial governments to carry out verifications. It ... |
CNBM reports 10% YoY revenue drop04 April 2024, Published under Cement NewsCNBM has reported revenue of CNY210.2bn (US$29.1bn) in 2023, down 10.1 per cent on the previous year. This was primarily attributed to a fall in the group’s basic building materials segment, which was partially offset by an increase in revenue in its engineering technical services segment and an uptick in its new materials segment. Profit attributable to equity holders of the company contracted 52.5 per cent over the same period to CNY3.86bn, while EBITDA declined 14.3 per cent to CNY33.8b... |
Huaxin Cement net income picks up in 202302 April 2024, Published under Cement NewsChina-based Huaxin Cement posted revenues of CNY33.8bn (US$4.671bn) in 2023, up 11 per cent when compared with the previous year. Net income edged up by 2.3 per cent YoY to CNY2.76bn in 2023, but the company’s profit margin slipped to 8.2 per cent from 8.9 per cent as the company saw an increase in expenses. Earnings per share (EPS) increased to CNY1.33 in 2023 from CNY1.30 in 2022. While the company’s revenue was in line with analyst predictions, EPS missed analyst estimates by one per... |
Anhui Conch sees profit decline in 202321 March 2024, Published under Cement NewsAnhui Conch Cement has reported turnover of CNY140,999m (US$19,588m) in 2023. This compares to CNY132,021m in the previous year. Gross profit declined from CNY27,190m in 2022 to CNY22,364m in 2023, while profit before tax contracted from CNY20,232m to CNY13,869m over the same period. According to the company, profit for the year came in at CNY11,018m in 2023, down from CNY16,357m in 2022. |
West China Cement Ltd announces a 65% drop in net profit20 March 2024, Published under Cement NewsWest China Cement Ltd has reported a 65.3 per cent decrease in its net income from CNY1214.8m (US$168.7m) in 2022 to CNY421.3m in 2023. This came as sales revenue rose slightly by 6.3 per cent rise in sales revenue, from CNY8489.1m to CNY9,020.9m, over the period. As a result, the company’s earnings per ordinary share fell to CNY0.077, down 65.6 per cent from CNY0.224 the year before. Following West China Cement’s poor financial performance, the company has vowed to implement cost c... |