Cement News tagged under: China

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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.

Fitch revises China Shanshui Cement Outlook

11 April 2012, Published under Cement News

Fitch Ratings has revised China Shanshui Cement’s Outlook to Positive from Stable. The Outlook reflects an “improved competitive landscape in Shandong, Shanshui’s core market and the company’s reduced capex plans,” Fitch said in a statement. Discipline to stablise selling prices by adjusting production levels by key Chinese cement industry improved in 2011, especially in regional markets with strong concentration like the Shandong Province, Fitch notes. The top two cement producers in thi...

China’s cement makers fall on demand worries

11 April 2012, Published under Cement News

Chinese cement companies fell sharply on worries about sluggish demand as China’s investment growth is slowing, Dow Jones reports. Thanks to production limits imposed by the government, cement prices are stabilising, says Huatai United Securities in a note. The house says: “Further rises in cement prices will be capped because it’s almost certain that China’s investment in infrastructure and property sector will slow this year.

China Shanshui to issue senior notes, China

10 April 2012, Published under Cement News

China Shanshui Cement said it proposes to conduct an international offering of senior notes and would commence a series of roadshow presentations beginning on or around 11 April 2012 to institutional investors in Asia, Europe and the United States. Deutsche Bank, HSBC and J.P. Morgan have been appointed as joint lead managers and joint bookrunners. The pricing of the notes, including the aggregate principal amount, the offer price and interest rates, will be determined through a book build...

Jidong Cement net profit rises 9%

06 April 2012, Published under Cement News

Tangshan Jidong Cement Co. Ltd, based in Hebei Province, China, has stated that its net profit rose 9%YoY to CNY1.53bn in 2011. Meanwhile, operating revenue surged by 42.15% to CNY15.73bn.

CNBM seeks CNY15bn listing, China

04 April 2012, Published under Cement News

China National Building Material (CNBM) China National Building Material (CNBM), hopes to list in Shanghai this year, according to local press reports. The company hopes to raise CNY15bn from its Shanghai A-share listing, said Nomura analyst Luo Yang, but cautioned: "They are too optimistic. CNY10bn  should be the maximum, given the market." The state-owned firm has applied to the China Securities Regulatory Commission for an A-share listing in Shanghai and is awaiting its approval, sa...

Taiwan Cement ‘cautiously optimistic’

03 April 2012, Published under Cement News

Taiwan Cement Corp (TCC), which is fast-expanding in the China cement market, expects demand to pick up gradually this year in its two main markets, after it reported a 20 per cent decline in 4Q12. Speaking to the Tapei Times, chairman Leslie Koo, said:  “We are cautiously optimistic about the business outlook [this year] after a below-trend fourth quarter when the unfavorable macroenvironment softened demand and pushed down selling prices.” Political uncertainty over the leadership re...

Allied Cement net profit drops, China

03 April 2012, Published under Cement News

Allied Cement Holdings Ltd, based in Shandong Province and Shanghai, said net profit declined 54.8 per cent YoY in 2011 to HK$ 76.16m. However, sales increased 60.7% YoY to HK$ 725m with basic earnings per share standing at HK$ 0.21. (Source: China Buisiness Newswire)

Jiangxi Wannianqing Cement net profit rises, China

02 April 2012, Published under Cement News

Jiangxi Wannianqing Cement Co Ltd reported a 230 per cent YoY rise in net profit year due to an increase in sales volumes and higher selling prices. China Business Newswire reported that the company's net profit hit CNY506m (US$80m) last year, with basic earning per share reaching CNY1.28. The Shenzhen-listed company plans to distribute a cash dividend of CNY2.6 (before tax) for every 10 shares held. Jiangxi Wannianqing Cement produced 14.91Mt of cement and 12.36Mt of clinker in 2011, up ...

China: broad recovery in demand anticipated

02 April 2012, Published under Cement News

Analysts said Thursday that Chinese cement and building-material firms are seeing a broad recovery in demand and have forecast cement prices to rise throughout the year, as warmer weather helps kick-start stalled activity. Broking-house UOBKayHian said that management of Anhui Conch Cement Co both issued an upbeat assessment of the market outlook this year, bolstering the view that demand firmed during in the January–February period. UOB said rising construction activities after the Chines...