Cement News tagged under: China
Tongli Cement to see restricted shares become tradable13 September 2012, Published under Cement NewsOn 11 September Henan Tongli Cement Co Ltd, a Shenzhen-listed cement producer, said that 96.24 million of its restricted shares will be tradable on 13 September. The shares account for 29.31 per cent of its share capital. |
Chinese stocks boosted on approved government infrastructure projects11 September 2012, Published under Cement NewsChina cement firms are outperforming the broader market on hopes that the government's recently approved infrastructure projects will boost their earnings; Anhui Conch Cement is up 3.8 per cent at CNY15.64 and Xinjiang Tianshan Cement is 9.6 per cent higher at CNY8.79. Last week, China's National Development and Reform Commission (NDRC) approved new subways, highways and other projects estimated at around US$156bn. The projects will be positive for steelmakers, cement producers, construct... |
China Tianrui Group to issue CNY500m notes10 September 2012, Published under Cement NewsChina Tianrui Group Cement Co has said it will issue CNY500m (US$78.9m) worth of medium-term notes with a maturity of three years in the interbank market on 17 September. The company, a leading clinker and cement producer in Henan and Liaoning provinces, said in a statement that the notes will be issued at face value, and the coupon rate determined in the process of book-building. Both value and payment due date is set on 18 September 18, and the to-be-issued notes tradable 19 September. A... |
West China Cement chairman shares buy positive - DB07 September 2012, Published under Cement NewsDeutsche Bank (DB) says according to Hong Kong Stock Exchange filings West China Cement’s chairman, Zhang Jimin, has been buying back shares for the last few weeks since Aug. 16 (7.2 million shares at a weighted average price of HK$1.20/share). It adds, Zhang's shareholding has increased by 15 bps to 38.53% of the total issued share capital. "We believe the chairman will continue buying shares at current levels given it appears he finds the current valuation attractive. More importantly, w... |
Huaxin sees 82.3 per cent slide in 1H12 net profit, China06 September 2012, Published under Cement NewsHuaxin Cement said net profit for the first half of 2012 fell 82.3 per cent YoY to CNY95.92m (US$15m). Operating revenue slid 1.53 per cent YoY to CNY5.49bn with basic earnings per share of CNY0.1. Huaxin Cement is 41.6 per cent controlled by Holcim. Last year, the Chinese producer continued its acquisition policy and purchased three works in the Hubei province with a combined capacity of 5Mta, giving Huaxin Cement a capacity of 58.5Mta which has increased further since year end. |
Yu Shiliang announced as new Sinoma chairman, Chairman06 September 2012, Published under Cement NewsFollowing the sudden death of Sinoma chairman Tan Zhongming on Sunday, the company has announced that vice chairman Yu Shiliang will succeed him as chair. Tan, who was in his late 50s, reportedly died of a heart attack while in France for a company roadshow. However, a statement by Sinoma said that he passed away “due to illness.” The state-owned company is one of China's five biggest cement producers. Tan was also a director of Sinoma's Shanghai-listed subsidiary, Sinoma International... |
S&P lowers West China Cement corporate rating, China04 September 2012, Published under Cement NewsStandard & Poor's Ratings Services lowered its long-term corporate credit rating on West China Cement Ltd. (WCC) to 'B+' from 'BB-'. The outlook is negative. The research house also lowered the issue rating on the China-based cement manufacturer's senior unsecured notes to 'B+' from 'BB-'. S&P said in a statement: “We lowered the rating to reflect our view of WCC's weakened liquidity position, given the company's low cash balance and high short-term debt. WCC's cash balance fell to CNY173m... |
Taiwan producers invest further in China04 September 2012, Published under Cement NewsDespite recording a decline in first-half net profits Taiwain-based cement producers Taiwan Cement and Asia Cement, have underlined their confidence in the Chinese market by planning to invest over TWD1.8bn (US$60m) in their respective operations. Asia Cement reported 1H net profit of TWD4.088bn (US$136.27m) in net profits in the first half, with earning per share falling 30 per cent YoY to TWD1.27 (US$0.042). Meanwhile, TCC’s net profits decreased 2.5 per cent YoY to TWD$3.95bn (US$131.67... |
Sichuan Shuangma Cement 1H net profit slumps, China03 September 2012, Published under Cement NewsShenzhen-listed producer, Sichuan Shuangma Cement Co, reported a 112.95 per cent loss in net profit for the first half of 2012 to CNY11.64m (US$1.8m) China Business Newswire reports. In the six months to June, the company’s operating revenue was down 6.21 per cent to CNY885m. Basic losses per share stood at CNY0.02. |
Iberian impairments push Cimpor into a loss31 August 2012, Published under Cement NewsCimpor’s first half turnover declined by 5.5 per cent to €1086.8m, as the deterioration in Spain, Portugal and China could not be compensated for by improvements elsewhere. EBITDA was down by 15.3 per cent to €267.4m. The deterioration on the Iberian peninsula led to provisions of €270m being taken in respect of the Spanish assets and a further €20m against the downstream assets in Portugal, giving a total value adjustment charge of €407.2m compared with €117m. This led to a trading loss ... |