Cement News tagged under: China
Anhui Conch first-half net profit rises, China16 August 2013, Published under Cement NewsAnhui Conch Cement Co Ltd reported a net profit of CNY3.06bn (US$500.6m) in the first half of 2013, a rise of 4.89 per cent rise compared to the same period of the year before. The company's gross profit margin rose 1.40 percentage points to 28.49 per cent in the period, due mainly to lower raw material cost. Operating revenue rose 14.73 per cent YoY to CNY23.59bn in the first half, boosted by an increase in the sales volume of cement and clinker. Sales of cement and clinker total... |
Taiheiyo Cement ordered to close Nanjing plant, China15 August 2013, Published under Cement NewsTaiheiyo Cement Corp has been ordered by the Chinese city of Nanjing to close a local production facility by the end of next year due to pollution concerns. Shutting the Nanjing plant would reduce Taiheiyo Cement's Chinese output capacity by 30-40 per cent, The Nikkei reported on Wednesday. Japan's number one cement producer will ask the city to reconsider. If Taiheiyo Cement does not follow the order, the local partner with which it has a joint venture will likely be penalised, with t... |
Asia Cement first-half profit surges, China15 August 2013, Published under Cement NewsAsia Cement reported a surge in profit attributable to shareholders for the six months ended 30 June 2012 thanks to an increase in the sale cementitious products and declining coal prices. Profit rose by 110 per cent YoY to CNY256m (US$41.9m). Revenue rose 3.4 per cent to CNY3.18bn and gross profit was CNY584m, representing a gross profit margin of 18 per cent. |
Eastern China prices beat expectations14 August 2013, Published under Cement NewsCement prices in eastern China have increased during July, beating analysts expectations for some parts of the region. Prices continued rising and rebounds in Zhejiang, Fujian, Jiangxi and Guizhou were far beyond market expectation. Last week (5-9 August 2013), the average cement price in China increased 0.85 per cent from the previous week, according to data from the Digital Cement. Prices in Anhui, Jiangxi, Hubei and Guangdong increased CNY20-30/t. Cement prices in eastern China ar... |
China Resources Cement 1H13 profit rises12 August 2013, Published under Cement NewsChina Resources Cement (CRC) said yesterday that its net profit attributable to shareholders of the company increased 80.35 per cent YoY to HK$1.15bn (US$148.29m) in the first half of this year. Basic earnings per share were at 17.6 HK cents, and an interim dividend of 3.5 HK cents was declared. The firm's turnover rose 16.5 per cent YoY to HK$12.86bn in the first half. Gross profit jumped 29% YoY to HK$2.97bn in the period, and gross profit margin was about 23.1 per cent in the period, u... |
Gansu Qilianshan's net profit surges, China12 August 2013, Published under Cement NewsGansu Qilianshan Cement Group Co Ltd earned a net profit of CNY110m (US$18m) in the first half of 2013, a YoY rise of 314 per cent. The cement producer saw operating revenue advance 24.57 per cent YoY to CNY2.31bn, with basic earnings per share of CNY0.18. |
JPMorgan sells stake in Anhui Conch, China06 August 2013, Published under Cement NewsJPMorgan Chase & Co sold 3.89 million H-shares (translating to a 0.3 per cent stake) in Anhui Conch Cement Co Ltd on 29 July 2013, decreasing the stake to 10.91 per cent, according to the Hong Kong Stock Exchange. JPMorgan sold the stake at HKD22.95/share and for a total of HKD89.28m (US$11.5m). . |
Fitch revises West China Cement outlook05 August 2013, Published under Cement NewsFitch Ratings has revised West China Cement Limited's (WCC) Outlook to Negative from Stable reflecting continued weak average selling prices (ASP) in the cement producer's core cement markets of Shaanxi and Xinjiang. If this trend persists, the company may face challenges in repaying its outstanding US$400m notes due in January 2016, cautions the ratings agency. Continued weak ASPs have compressed WCC's gross profit to CNY47/t (US$7.67) in 2012 from CNY76/t for 2011. The ASP was CNY238/t i... |
Standard & Poor’s downgrades China Shanshui Cement, China02 August 2013, Published under Cement NewsStandard & 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 '... |
BBMG Corp issues profit warning, China18 July 2013, Published under Cement NewsBBMG Corp announced yesterday that it expected its net profit to fall not more than 15 per cent YoY in the first six months of this year, due to pricing pressures. The company's net profit was CNY1.39bn in the first half of 2012. The company's sales of cement and clinker increased 9.1 per cent YoY to 16.38Mt in the first half. Concrete sales volumes jumped 33.2 per cent YoY to 5.46Mm3 in the period. The company had earlier reported a loss of CNY61.21m for the first quarter of this yea... |