Cement News tagged under: China
Shanshui Cement announces 2013 gross profits of US$617.7m24 March 2014, Published under Cement NewsDuring 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... |
Congo Rep opens Dolisie cement plant24 March 2014, Published under Cement NewsDenis Sassou Nguesso, President of the Republic of Congo, inaugurated a new cement works in Dolisie, located in the south west province of Niari, on Saturday 22 March. The 0.3Mta works was financed and built by China-based Forspak International, who invested XAF34bn (US$71m). Forspak CEO, Pen An Ping, said the plant will contribute significantly towards satisfying the country’s demand for cement. According to the industrial development and private sector minister Isidore Mvouba, current c... |
West China Cement profit edges ahead21 March 2014, Published under Cement NewsWest China Cement reported a 3.6 per cent YoY rise in pre-tax profit to CNY475.08m (US$76.4m) for the year ending 31 December 2013, compared to CNY458.58m a year ago. Net income attributable to shareholders rose to CNY378.32m from CNY364.88m. Earnings per share were on a par with last year at CNY0.883. Revenue increased by 18.3 per cent to CNY4.17bn from CNY3.52bn in 2012. Cement sales volumes rose by 23.1 per cent last year to approximately 17.6Mt for the year from approximately 14.3M... |
Fujian full-year net profit declines19 March 2014, Published under Cement NewsFujian Cement earned a net profit of CNY19.05m (US$3.074m) in 2013, a YoY decline of 30.38 per cent. Operating revenue rose by 12.4 per cent YoY to CNY1.82bn. The company attributed the downward trend in net profit to plant closures while it carried out technology upgrade projects, as well as a decrease in cement prices. |
UBS raises China Resources target price, maintains ‘buy’ rating18 March 2014, Published under Cement NewsUBS has raised its target price for China Resources Cement to HK$7.3 from HK$6 and maintained its ‘buy’ rating. The research house expects the South China cement market to remain solid in 2014-15. Market quoted cement prices in Guangzhou and Nanning have been CNY110/t (32.8 per cent) and CNY90/t (33.3 per cent) higher YoY, respectively. UBS said the Chinese cement producer is negotiating with the local government about taxes and it could receive a rebate in 2014. It has upgraded Chi... |
Asia Cement (China) seeks M&A activity, strategic alliances17 March 2014, Published under Cement NewsAsia Cement’s China subsidiary is seeking mergers and acquisition opportunities, as well as the creation of strategic alliances, to raise production capacity and boost its competitive edge. Asia Cement (China) will target cement producers in China, including small and medium-sized firms in different regions. In early January, Asia Cement and its Chinese subsidiary singed a strategic partnership with Anhui Conch and China Conch Venture Holdings to explore opportunities in sharing green te... |
Asia Cement attributable profit surges14 March 2014, Published under Cement NewsAsia Cement (China) said its profit attributable to owners for the year ended 31 December 2013 surged 108 per cent YoY to CNY823m (US$133.8m). Its basic and diluted earnings per share were CNY52.9 cents. The revenue was CNY7.33bn, an increase of 9.7 per cent from a year earlier. Gross profit rose 44.1 per cent YoY to CNY1.62bn, a gross profit margin of 22 per cent, up from 17 per cent in 2012. The increase in gross profit was mainly attributable to the increase of production capacity... |
Gansu Qilianshan full-year profit surges13 March 2014, Published under Cement NewsGansu Qilianshan Cement Group Co Ltd earned a net profit of CNY465m (US$75.8m) in 2013, a YoY surge of 167.77 per cent, the company announced in a statement. Meanwhile, operating revenue grew 36.83 per cent YoY to CNY5.81bn. |
Xinjiang Tianshan net profit declines13 March 2014, Published under Cement NewsXinjiang Tianshan Cement Co Ltd reported a net profit of CNY280m (US$45.62m) in 2013, a YoY fall of 12.08 per cent, the company announced on 12 March. Meanwhile, operating revenue grew 2.75 per cent YoY to CNY7.91bn. |
China Resources net profit increases 43.6% in 201310 March 2014, Published under Cement NewsChina Resources Cement Holdings Ltd earned a net profit of CNY3.34bn (US$544m) in 2013, a YoY increase of 43.6 per cent, the company announced on Friday. Meanwhile, operating revenue grew 15.8 per cent YoY to CNY29.34bn. The Hong Kong-based cement producer attributes the upward trend in performance to decreasing manufacturing costs and coal prices. |