Cement News tagged under: China

RSS feed

Jidong Cement completes private bond placement, China

01 February 2012, Published under Cement News

Tangshan Jidong Cement announced today that it has finished a CNY1.91bn (US$302.8m) private placement to a Hong Kong-based investment company, China Business Newswire reports. Tangshan Jidong Cement Co issued more than 134.75 million new shares to the Hong Kong company at RMB 14.21 apiece. The shares account for 10% of Tangshan Jidong Cement Co's enlarged share capital.

Jiangxi unit receives tax rebates, China

01 February 2012, Published under Cement News

Jiangxi Wannianqing Cement announced on Tuesday that one of its units recently received CNY23.9m of tax rebates. The money will be counted into the unit's earnings in the first quarter of 2012, and CNY15.54m of the total shall be counted into the net profit of Jiangxi Wannianqing Cement Co, China Business Newswire reports.

China cement output rises 16.1%

23 January 2012, Published under Cement News

China’s cement outpur rose 16.1 per cent YoY to 2.06bnt, the National Development and Reform Commission (NDRC) said on its website. The news comes despite the government tightening the property market which dampened demand to some extent, according the NDRC.

Allied Cement: market challenges ahead, China

19 January 2012, Published under Cement News

Allied Cement of China, which made its debut on the main board of Hong Kong’s stock exchange yesterday, said it faces slowing demand growth for its products on the back of the economic slowdown and a credit squeeze in China. During a ceremony to mark the company’s listing, its managing director Ng Qinghai said demand in the Yangtze River Delta (East China), Allied Cement’s main market, would increase approximately 5-10 per cent this year. This is slower than the 12 per cent registered last...

Anhui Conch acquisition, China

19 January 2012, Published under Cement News

Anhui Conch Cement plans to acquire Anhui Conch Venture Capital’s no 4 and 5 energy saving equipment factories, and relevant land use rights, for a total of CNY22m, reports Shanghai Securities News, citing a company filing. According to the filing, the cement maker plans to set up an equipment storage centre, which will boost production and lower procurement costs. The factories purchased will be mainly used for storage, said the firm.

Tongli Cement expects 83% rise in net profit

18 January 2012, Published under Cement News

Chinese cement producer, Henan Tongli Cement, expects an 83 per cent rise in net profit for 2011 at CNY235m, up 83 per cent YoY. Earnings per share for the Henan Province-based producer are reported to be CNY0.93. Source: China Daily Newswire

Citigroup lowers target price for two Chinese producers

13 January 2012, Published under Cement News

Citigroup has lowered its target price for Anhui Conch and China Resources Cement. Conch’s target price has been lowered to HK$37.5 from HK$28.2 and maintained its buy call. The research house expects a price cut of CNY20-30/t and a cost hike of abut CNY10/t as lower utilisation drives fixed costs up. Meanwhile, the target price for China Resources Cement has been cut to HK$5.53 from HK$5.88 and maintained its ‘neutral’ rating. The house noted that management sounds comfortable on demand...

Goldman Sachs downgrades Taiwan Cement target price

12 January 2012, Published under Cement News

The target price for Taiwan’s leading producers, Taiwan Cement Company International (TCC) has been lowered by Goldman Sachs from HK$4.51 to HK$4.27. It has maintained its “buy” rating on the producer. The house has downgraded its earnings estimates across the Taiwan cement sector by an average of six per cent due to weaker China cement prices as sluggish demand has ensued following the government tightening measures. Goldman Sachs believes the next few months will be critical for Taiw...

Xinjiang Tianshan public issue to fund six projects, China

12 January 2012, Published under Cement News

Xinjiang Tianshan Cement Co, based in Northwestern China’s Xinjiang Uygar Autonomous region, plans to raise up to CNY2.8bn (US$443m) through a public offering to fund six projects. The company plans to issue up to 120m new shares at a price of CNY20.64/share. Some CNY2.48bn from the offering will be used to construct five cement productions lines and one grinding facility in Xinjiang. These new investments will bring Xinjiang Tianshan Cement’s total number of lines to 16.  Total capaci...

Defining the future

21 October 2011, Published under Cement News

Ahead of Cementtech 2011, Xiangzhong Kong, Secretary General of the China Cement Association (CCA), talks to ICR about the prospects for the domestic cement market and outlines the key policies which will define the Chinese cement industry over the coming five years and beyond. ICR: How will the Chinese economy perform in 2011 compared with 2010? CCA: China’s economy will continue its stable development trend in 2011. The government is very concerned about livelihood issues an...