Cement News tagged under: China

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Anhui Conch net profit up 87.8%, China

27 March 2012, Published under Cement News

Anhui Conch announced an 87.8% rise in net profit YoY to CNY11.59bn (US$1.8bn) on the back of higher prices and sales. This figure was in line with the company’s guidance released in January when it said it expected net profit to rise more than 80 per cent. Revenue in 2011 was up 41% to CNY48.65bn from CNY34.51bn. During the year, the company sold 158Mt of cement and clinker in 2011, up 15.22 per cent YoY. It also added 33.6Mt of clinker capacity in 2011, taking total volumes to 164Mt by...

TCC International reports 38% rise in revenues

26 March 2012, Published under Cement News

TCC International Holdings Limited together with its subsidiaries reported a 38.6 per cent rise in revenues on the back of exceptionally strong demand during the low season in the first half of 2011 and increase in product average selling price. For 2012, it plans to consolidate its position further through organic and vertical integration. Revenue increased from HK$8.1bn (US$1bn) in 2010 to HK$11.26bn in 2011 while net profit reached HK$2.88bn from HK$1.53bn the year before. The group...

China Shanshui revenues rise 42%, China

26 March 2012, Published under Cement News

China Shanshui Cement Group which operates mainly in the Shandong and Liaoning Provinces in China, said sales growth of 42.2% to CNY16,862m for the 12 months ended 31 December 2011. Gross profit surged by 99.2% to CNY5079m and profit attributable to equity shareholders of the Company soared 127.3% to CNY2225m. Basic earnings per share reached CNY0.79, up 125.7% compared with last year. Commenting on the peformance, Zhang Bin, Vice Chairman and General Manager of Shanshui Cement, said: ...

China: ready for a new era?

23 March 2012, Published under Cement News

The 13th China International Cement Industry Exhibition and Cement Conference 2012, which takes place between 28-30 March, is an opportunity for a full gathering of Chinese government officials and industry experts to discuss the state of the country’s cement sector. ICR will be in attendance and is keen to hear what might be expected in the next phase of China’s development. Although construction continues to grow, cement producers are expected to see competition for markets intensif...

Morgan Stanley bearish on China Building Materials Sector

22 March 2012, Published under Cement News

Morgan Stanley believes second quarter pricing for China’s building materials will still be lower than the first quarter as it expects 2Q demand seasonal recovery to be weaker than normal years due to the slowing construction pace of property developers. “We hold the view that developers will not reaccelerate construction activities until they have cleared their four-year high property inventories,” In addition, the supply side is facing pressure as well, especially from new capacity addi...

Asia Cement 2011 net profit rises, China

22 March 2012, Published under Cement News

Asia Cement (China) Holding Corp said its net profit rose by 162 per cent YoY in 2011 to CNY1.34bn (US$212.6m). Meanwhile, basic earnings per share stood at CNY0.86. Citigroup has upped Asia cement to Buy from Sell and raised its target price to HK5.36 vs HK$2.71. The house expects earnings should bottom with selling prices in central China down 10 per cent YoY and volumes almost frozen. The house adds that Asia Cement's FY11 dividend yield was 5%, providing good cash income, and the c...

China cement output rises 4.8%

20 March 2012, Published under Cement News

Cement production from China rose by 4.8 per cent in the first two months of 2012 to reach 216Mt. However, growth slowed by 4.3 percentage points from the same period last year, the National Development and Reform Commission (NDRC) reported. In February, the average cement price was CNY376.5/t down, down CNY31 from December 2011 but up CNY5.5/t YoY.

West China Cement buys stake in Shifeng Cement

16 March 2012, Published under Cement News

West China Cement has agreed to acquire a 55% interest in Shaanxi Shifeng Cement at CNY401.5m. The company has been granted an option to acquire a 10 per cent interest in Shifeng Cement for CNY73m. Shifeng Cement operates a 4500tpd clinker line with an annual capacity of 2Mta.

Credit Suisse: earnings downside risk in China cement sector

15 March 2012, Published under Cement News

Credit Suisse says that data points in the past two weeks further weakened in the Yangtze Delta (YZD) while southern/central sough demands remains stagnant, as continued weak demand in (YZD) and surrounding provinces and new supply pressure drove another CNY20-60/t price cut in the region. The house says that earnings remain vulnerable to downside risk, driven by weakening cement prices and potential disappointment in sales volume, with data at the end of February suggesting a 35-75 per c...

South Cement to issue CNY1.5bn in bills, China

13 March 2012, Published under Cement News

South Cement Co controlled by state-owned China National Building Materials Co, has announced plans to sisue CNY1.5bn worth of 365-day unsecured bills on the internet bank market on 15 March, according to reports by China Knowledge Press. The coupon rate will be determined in the process of book building. Both value date and payment due date is set on 19 March and the to-be-issued bills tradable on 20 March. Proceeds from the issuance will be used to repay bank loans and replenish workin...