Cement News tagged under: China
China Tianrui Group Cement Co to issue CNY500m unsecured short term bills22 May 2015, Published under Cement NewsChina Tianrui Group Cement Co, a leading clinker and cement producer in Henan and Liaoning provinces, has announced that it will issue CNY500m (US$80.7m) unsecured short-term bills with a maturity of 366 days on the interbank market on May 26. 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 27 May, and the to-be-issued bills tradable on 28 May. ... |
Shandong Shanshui Cement to issue CNY900m 366-day bills14 May 2015, Published under Cement NewsShandong Shanshui Cement Group Ltd, the subsidiary of China Shanshui Cement Group Ltd, has announced that it will issue CNY900m 9US$145.1m) unsecured short term bills with a maturity of 366 days on the interbank market on 20 May. 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 21 May and the to-be-issued bills tradable on 22 May. The proceeds ... |
China Tianrui increases stake in China Shanshui Cement07 May 2015, Published under Cement NewsChina Tianrui Group Cement last month increased its stake in China Shanshui Cement to 28.16 per cent, more than Shanshui founder Zhang Caikui. Fitch Ratings deemed the move a change of control. It also downgraded Shanshui to BB-, three levels below investment grade, citing weak cement prices. "The Chinese authorities' approach to the sector is clear - they want consolidation," said Kalai Pillay, a senior director at Fitch Ratings in Singapore. In the case of Tianrui's part acquisition of... |
China's building materials output falls in 1Q1501 May 2015, Published under Cement NewsOutput of China's building materials sector fell in the first quarter of 2015 as the property market remained weak, the country's top economic planner indicated on Wednesday. The National Development and Reform Commission (NDRC) said national cement output was down 3.4 per cent YoY to 428Mt, while flat glass production fell six per cent. Prices of cement and flat glass both dropped in March. Compared with a month earlier, the factory price of cement shed 1.3 per cent, and that of flat... |
Cementtech 2015 underway in Beijing, China29 April 2015, Published under Cement NewsThe China International Cement Conference opened yesterday at the Hotel Nikko New Century Hotel in the Chinese capital Beijing, with sustainable development and over capacity remaining the pivotal theme for this 16th annual event. Cementtech 2015 opens in Beijing, China, with sustainability a key focus for this year's proceedings Conference proceedings were officially opened by Qiao Longde, conference chairman and president of the China Cement Association and China Building Mate... |
Conch's 1Q15 earnings fall 31%29 April 2015, Published under Cement NewsAnhui Conch reported 1Q15 net profit of CNY1.7bn (US$274m), down 31 per cent YoY. Sales declined 11 per cent YoY driven by almost a 20 per cent decline in average selling prices. Due to the weak seasonal recovery in cement price, Jefferies expect 2Q15 earnings could decline 30 per cent year-on-year as well. "Seasonal recovery in cement price has been happening slower than expected due to weak demand growth. Cement price continues to fall well into April and is now 10-25 per cent lower t... |
Asia Cement issues profit warning, China28 April 2015, Published under Cement NewsAsia Cement (China) said it expects to record a substantially lower – over 95 per cent – net profit for the first quarter of 2015 compared with the same period of last year. The expected decline is being primarily attributed to the decrease in average selling price of the company's products compared versus that of last year. Its quarterly results announcement will be issued by the end of April. |
China Resources Cement 1Q15 attributable profit drops 14% YoY28 April 2015, Published under Cement NewsChina Resources Cement said its profit attributable to owners for the three months ended 31 March 2015 dropped 14 per cent YoY to HK$660m (US$85m). Basic earnings per share were HK$0.101. Turnover was HK$6202m, a decline of 8.7 per cent from a year earlier. The consolidated gross margin for the reporting period was 25.9 per cent, representing a decrease of 5.9 percentage points from 31.8 per cent for the corresponding period last year. The decrease was mainly attributable to reduction in se... |
Fitch downgrades Shanshui to 'BB-'; on Negative Watch20 April 2015, Published under Cement NewsFitch Ratings has downgraded China Shanshui Cement Group Ltd's Long-Term Issuer Default Rating (IDR) and senior unsecured rating to 'BB-' from 'BB'. The ratings have also been placed on Rating Watch Negative. The downgrade is driven by our view that the current weak cement price in Shanshui's core markets will persist, and affect the company's ability to improve its financial performance. The Rating Watch Negative follows a public announcement that parties related to China Tianrui Group Cem... |
Citi Research raises target price for China Resources13 April 2015, Published under Cement NewsCiti Research raised its target price for China Resources Cement (CRC) to HK$5 from HK$4.5, and upgraded the stock to "neutral" from "sell". The research house lowered CRC's unit cost of cement and clinker by one per cent to HK$214/t in 2015, thus lifting 2015 GP/t to HK$96/t, taking into account the weak coal price. Citi also factored in a one per cent higher concrete price, revising up its unit GP to HK$97/m3 fromthe previous HK$93/m3. As a result, it adjusted 2015 earnings upward by ... |