Cement News tagged under: China

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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...

Deutsche Bank raises stake in Shanshui Cement, China

02 April 2012, Published under Cement News

Deutsche Bank acquired 33.09 million shares in China Shanshui Cement Group Ltd at HK$ 5.55 apiece and for a total of HK$ 184m last Friday, China Business Newswire reported, citing information released by the Hong Kong Stock Exchange. After the purchase Deutsche Bank's stake in Shanshui Cement increased by 1.18% to 9.36%.

China to tighten restrictions on capacity expansion

30 March 2012, Published under Cement News

China is to tighten restrictions on increases in new capacity in 2012 to manage surplus capacity, according to Liu Ming, an official of the National Development Reform Commission. Speaking on a cement industrial meeting, Liu said the main task at present is still to rein in the fast increase of cement production capacity since China would face overcapacity at national level during the period of 2011-2015. Liu said the government will encourage mergers and acquisitions in the sector and...

Credit Suisse lowers BBMG Corp target price

30 March 2012, Published under Cement News

Credit Suisse lowered its target price for BBMG Corporation to HK$9.6 from HK$11.9, and maintained its "outperform" rating. The research house said the China-based producer reported weaker FY2011 results and CS has therefore  revised down its earnings by 23% for 2012 to reflect the persistent pressure on cement margin. But it added that valuation remains undemanding at this point. Credit Suisse expects a moderate improvement in 2012 from the low base in 2H11.

China United Cement to issue bills

30 March 2012, Published under Cement News

China United Cement Group Co, a unit of China National Building Material Co, plans to issue CNY1bn worth of 365-day unsecured bills on the interbank market today. Coupon rate will be determined in the process of book-building and the bills will be issued at face value. Both value date and payment due date is on 31 March  and the to-be-issued bills tradable on April 1.?? Dagong Global Credit Rating Co Ltd has rated the issuer and bills AA+ and A-1, respectively. Agricultural Bank of Chi...

Fujian Cement reports marked rise in net profit, China

28 March 2012, Published under Cement News

Fujian Cement recorded CNY124m (US$19.66m) in net profit last year, up a staggering 1434 per cent YoY, China Business Newswire citing the company’s annual report released in March 2012. Operating revenue rose 38.3 per cent to CNY1.88bn with basic earnings per share of CNY0.33. The company, which is headquartered in the Fujian province of China, plans to distribute a cash dividend of CNY0.5 (before tax) for every 10 shares held.

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...