Cement News tagged under: China

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China 1Q cement output up 7.3% YoY at 398.1bt

24 April 2012, Published under Cement News

China produced 398.1Mt of cement in the first quarter of this year, an increase of 7.3% YoY, according to the latest data released by the National Development and Reform Commission (NDRC).

Anhui Conch net profit falls 43.61%, China

20 April 2012, Published under Cement News

Anhui Conch Cement said yesterday that its net profit dropped 43.64% YoY  to CNY1.25bn in the first quarter of this year, due to falling cement prices and rising production costs. Operating revenue was CNY8.86bn in the first three months, 4.9% less than in the same period of 2011. Cement sales, however, rose 10.3% YoY to 33Mt in the first three months, but its average sales price fell 13.8% YoY (7% QoQ) to CNY268/t. Earlier the company reported a net profit of CNY11.59bn for last year,...

China Shanshui launches US$400m bond, China

19 April 2012, Published under Cement News

China Shanshui Cement Group has launched a US$400m dollar bond to yield 10.5%, a person familiar with the matter told Dow Jones Newswires on Thursday. The planned five-year bond will be callable after three years, the person said. Initial price thoughts had suggested a yield in the "high 10s." Credit Suisse, Deutsche Bank, HSBC and JP Morgan are joint bookrunners and lead managers on the planned Rule 144a/ Reg S senior notes, which are provisionally rated BB-minus by Fitch Ratings and Sta...

Tianshan Cement first-quarter profit forecasts, China

18 April 2012, Published under Cement News

Xinjiang Tianshan Cement, based in Xinjiang Uyghur Autonomous Region, has forecast that its net profit widened to CNY133m (US$ in the first quarter of 2012 from CNY7.41, a year earlier. The company's net profit soared 124 per cent YoY to CNY1.13bn in 2011, China Business Newswire reports.

China Shanshui seeks to price dollar bond, China

17 April 2012, Published under Cement News

China Shanshui Cement Group Ltd is seeking to price a benchmark US dollar bond to yield in the "high 10s," a person familiar with the matter told Dow Jones Newswires on Tuesday. Credit Suisse, Deutsche Bank, HSBC and JP Morgan are joint bookrunners and lead managers on the planned Rule 144a/ Reg S senior notes, which are provisionally rated BB-minus by Fitch Ratings and Standard & Poor's Ratings Services.

Jidong Cement profit warning, China

17 April 2012, Published under Cement News

Tangshan Jidong Cement Co Ltd, a Hebei Province-based cement producer, predicted on 13 April that its net loss widened to CNY200-250m in the first quarter of this year from CNY11.27m a year earlier.

Sichuan Shuangma Cement Co net profit drops

17 April 2012, Published under Cement News

Sichuan Shuangma Cement Co net profit dropped 32.5% in 2011 to CNY162.65m (US$25.8m), from an adjusted 2010 net profit of CNY240.97m. The company's shares are down 1.4% at CNY8.48, but Dongxing Securities analyst Zhao Junsheng says he sees a longer-term upside. "The fall in profit was expected, and the overall cement sector is facing some pressure right now. If you look in the longer term, I expect to see some recovery" as regional demand for cement picks up, Zhao says. He maintains hi...

Asia Cement issues profit warning, China

16 April 2012, Published under Cement News

Asia Cement China said it expects the group to record a substantially lower net profit for the first quarter of 2012 compared to the same period of last year. The decrease is primarily attributed to seasonal and climatic factors and a decrease in the demand for cement leading to a drop in sales. The average selling price of Asia Cement’s product’s was also down in the first quarter of 2012 compared to 1Q11. (Source: ET News)

Tongli Cement posts 19.28% net profit fall, China

13 April 2012, Published under Cement News

Henan Tongli Cement Co Ltd said on 11 April that it reaped a net profit of CNY25.99m in the first quarter of 2012, down 19.28% on-year, China Business Newswire reports. Basic earnings per share were CNY0.1. Meanwhile, the company's operating revenue dipped 3.6% on-year to CNY869m,

Qilianshan Cement's rights issue plan approval, China

12 April 2012, Published under Cement News

Gansu Qilianshan Cement, has received approval from China Securities Regulatory Commission (CSRC) to raise as much as CNY1.68bn via a rights issue. The company plans to issue no more than 142 million new shares to all its shareholders at a ratio of three new shares for every ten existing shares. The proceeds from the issuance will be used to repay the company's short-term commercial paper and replenish working capital.