Cement News tagged under: China
Anhui Conch Jan-Sept net profit rises 36.82%04 November 2013, Published under Cement NewsAnhui Conch Cement Co 's net profit in the first nine months rose 36.82 per cent YoY to CNY5.36bn (US$878.6m), the company said in its third-quarter report. Basic earnings per share were CNY1.02 during the period. Operating revenue rose 14.76 per cent YoY to CNY37.01bn in the first nine months, boosted by an increase in the sales volume and price of cement and clinker. At the end of September the company's net assets had increased 6.29 per cent from the end of last year to CNY51.98... |
Asia Cement nine month profit surges, China25 October 2013, Published under Cement NewsAsia Cement said net profit attributable to shareholders for the first nine months of the year rose by 166 per cent YoY to CNY391m (US$64.25m). Revenue rose by 3.9 per cent from a year earlier to CNY4.92bn. Gross profit increased by 29 per cent to CNY901m with margins of 18 per cent, up by three percentage points on a year earlier. For full-year 2013 the group anticipates a five per cent YoY rise in sales to 26Mt compared to 24.8Mt in 2012. It expects to continue benefitting from a declin... |
JP Morgan lifts stake in Anhui Conch25 October 2013, Published under Cement NewsJPMorgan Chase & Co purchased 2.05 million shares (a 0.16 per cent stake) in Anhui Conch Cement Co Ltd on 17 October, increasing the stake to 12.12 per cent, according to the Hong Kong Stock Exchange. After the purchase, JPMorgan bought the shares HK$26.95/ share and for a total of HK$ 55.25m (US$7.13m). |
Daiwa raises CRC target price, China17 October 2013, Published under Cement NewsDaiwa Research raised its target price for China Resources Cement (CRC) to HK$6.6 from HK$5.95, and retained its "buy" rating. The research house cited management noting that the market has been overly pessimistic on cement prices for south China, as many analysts seem to have misread the capacity growth in the region. While many production lines are pending to be built in the region, not all are able to get full approval, the research house said. With slower capacity growth and improv... |
China: new measures to curb overcapacity16 October 2013, Published under Cement NewsChina has announced new plans to curtail overcapacity that is persisting in a number of sectors and is offering fiscal incentives to encourage the removal of obsolete capacity. New projects will be banned in sectors experiencing overcapacity including the cement, steel, aluminium, glass, and shipbuilding, and new fiscal incentives will be provided to encourage companies to phase out extra obsolete capacity on top of the original goals by 2015, the State Council said in a statement dated 6 ... |
China production rises in first eight months14 October 2013, Published under Cement NewsChina's cement and clinker production totalled 1.52bnt and 888Mt in the first eight months of 2013, up 9.2 per cent and 5.2 per cent respectively from the same period of a year earlier, according to the China Cement Association. The southwestern and northwestern regions saw the fastest growth rates of 14.6 per cent and 15.4 per cent, while production in the northeast continued to decline, and production in the north remained unchanged compared with a year earlier, bucking the downward tr... |
Jianxi Wannianqing expects significant rise in 9M net profit10 October 2013, Published under Cement NewsJianxi Wannianqing Cement said it expects net profit to surge in the first nine months of this year compared to the same period of 2012 due to an increase in sales and lower production costs. The China-based producer expects a rise of 196-223 per cent YoY. It earlier reported a net profit of CNY132.56m for the first half of the year, up 129.02 per cent on the 1H12. Core business revenue jumped 26.13 per cent to CNY2.53bn. |
Positive view on China Resources-Fujian Energy collaboration04 October 2013, Published under Cement NewsDaiwa Research holds positive view on China Resources Cement's agreement with state-owned Fujian Energy to jointly develop and expand the cement and concrete business in Fujian Province. The research house expects the alliance with Fujian Cement should further increase CR Cement's market share in the province. While Fujian Cement's earnings capability looks weak (it reported net losses for 2012 and 1H13), the house believes CR Cement could help improve Fujian Cement's operational efficienc... |
HSBC cuts target price for China Shanshui Cement26 September 2013, Published under Cement NewsHSBC Research cut its target price for China Shanshui Cement to HK$3 from HK$4.2, and downgraded the stock from "overweight" to "underweight". The research house thinks expectations for better pricing in 2H (during the peak season) will disappoint given Shanshui's geographical exposure. Furthermore, HSBC forecast earnings to remain depressed in FY2014 due to persistently high tax expenses resulting from Shanshui's use of high-yield corporate bonds for offshore financing, as well as i... |
Gansu Qilianshan Cement expands into Gansu province, China17 September 2013, Published under Cement NewsGansu Qilianshan Cement Group Co Ltd plans to invest CNY265.59m (US$43.4m) to acquire a 100 per cent in Longran Runji Cement Co to expand into the Gansu province market. Runji Cement currently operates a 2500tpd dry-process line. |