Cement News tagged under: China

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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.

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...