Cement News tagged under: China
Asia Cement profit falls, China29 October 2012, Published under Cement NewsAsia Cement (China) said that revenue for the first nine months of 2012 was CNY4.73bn (US$757m), a decline of 19.83 per cent from a year earlier. Gross profit declined 58.5 per cent to CNY696m and gross profit margins fell 15 per cent, down by 13 percentage points compared to the same period of last year. Net profit attributable to shareholders fell 84.8 per cent YoY to CNY147m for the first nine months of the year. Its basic and diluted earnings per share were CNY9.4 cents. |
JP Morgan expects improved China pricing environment29 October 2012, Published under Cement NewsJP Morgan has raised its target price for BBMG Corp to HK$6.5 from HK$5.5 and maintained its “neutral” rating and sees improved trading conditions in the second half of 2012. It said that the Chinese company’s nine month results were in line with expectations with the weakness due to sluggish demand and a tough pricing environment throughout the industry. JP Morgan expects the pricing in the second half of 2012 will be better as new capacities coming on line will be lower and the rece... |
Henan Tongli Cement nine-month net profit declines, China26 October 2012, Published under Cement NewsHenan Tongli Cement Co Ltd reported a net profit of CNY138m (US$22m) for the first three quarters of 2012, a YoY decline of 6.86 per cent. Operating revenue during the period climbed 4.19 per cent YoY to CNY3.13bn. The Shenzhen-listed cement producer said net profit for the third quarter slumped 30.28 per cent YoY to CNY41.16m, while operating revenue grew 18.64 per cent YoY to CNY116bn. |
Anhui Conch 3Q12 net down, China25 October 2012, Published under Cement NewsAnhui Conch Cement said its net profit attributable to equity shareholders dropped 66.75 per cent YoY to CNY1.02bn (US$163m) for the third quarter ended 30 September 2012. Operating revenue was CNY11.69bn, representing a 7.6 per cent decline from a year earlier. Operating profit dropped 69 per cent to CNY1.23bn. For the first three quarters of 2012, net profit fell about 57 per cent YoY to CNY3.94bn. |
Tianshan Cement net profit declines, China23 October 2012, Published under Cement NewsXinjiang Tianshan Cement Co Ltd, a Shenzhen-listed cement producer, reported a net profit of CNY343m (US$54.9m) in the first nine months of 2012, representing a YoY decline of 64.85 per cent. Operating revenue during the period was down by 4.45 per cent YoY to CNY6.1bn. Net profit for the third quarter plunged 62.94 per cent YoY to CNY220m. |
BofAML says China cement industry trends turned positive18 October 2012, Published under Cement NewsChinese cement stocks have rebounded 20 per cent since early September, and Bank of AmericaMerrill Lynch believes the industry outlook tends to turn positive as new production capacity is expected to plunge starting from 2013. The demand for and production capacity of cement are set to be more balanced after excessive production capacity in the third quarter. Moreover, cement demand will recover moderately along with the improvement in property sales. (Source: AA Stocks Financial News). |
Anhui Conch Cement sees strong September sales and output growth, China17 October 2012, Published under Cement NewsThe start of peak seasonal demand in China has boosted Anhui Conch's September sales and output as average prices register weekly gains. A China Securities Journal report said on Wednesday, which cited a number of brokers, said that subsidiaries of the cement giant have been running at full capacity, and some of their output in September has hit new high. In addition, some subsidiaries have exceeded the target output and sales tasks for September and the third quarter of this year. Its Hu... |
Sichuan Shuangma Cement expects net loss in 9M12, China16 October 2012, Published under Cement NewsSichuan Shuangma Cement Co Ltd, a Shenzhen-listed producer and distributor of cement, said that it will post a net loss of CNY5m to CNY10m (US$0.8m-1.6m) in the first three quarters of 2012, compared with a net profit of CNY 123m in the same period of 2011. |
S&P rates China Tianrui senior unsecured notes 'B'08 October 2012, Published under Cement NewsStandard & Poor's Ratings Services today assigned its 'B' issue rating to a proposed issue of U.S. dollar-denominated senior unsecured notesby China Tianrui Group Cement Co. Ltd. (B+/Stable/; cnBB/). The agency also assigned its 'cnBB-' Greater China regional scale rating to the proposednotes. The proposed issue is rated one notch lower than the corporate credit rating on Tianrui because of priority liabilities at its operating company in China. S&P said the proposed issuance does n... |
Chinese prices climbs for third time in September28 September 2012, Published under Cement NewsCement price in the south China has just climbed for the third time in September, according to local press reports. Traditionally, the fourth quarter is the peak season for south China cement industry with quarterly demand accounting for more than one third of full-year demand. It has been reported that the clinker inventories of leading cement firms in south China like Anhui Conch, and TCC Int’l Holding have already dropped below 55 per cent. |