Cement News tagged under: China
Tianshan Cement to issue new shares, China02 February 2012, Published under Cement NewsXinjian Tianshan Cement, based in Northwestern China’s Xinjiang Uygur Autonomous Region, announced that 100 million of its new shares will be tradable on 3 February, China Business Newswire reports. The company said on 11 January that it would issue no more than 120 million new shares to raise up to CNY2.8bn. After the issuance the company has 488 million shares. |
Tebodin opens new China office02 February 2012, Published under Cement NewsConsultant and engineering company, Tebodin, has set up its third office in China, this time in Nanjing, in Eastern China, 300km from Shanghai. Tebodin (Nanjing) Engineering & Design Co, Ltd is the latest addition to Tebodin's global network consisting of approximately 50 offices active in 20 countries. It is the sixth office in Asia Pacific region together with Shanghai in China (2004), Chennai in India (2007), Ho Chi Minh City in Vietnam (2009), Guangzhou in China (2010), and Jakarta in... |
Jidong Cement completes private bond placement, China01 February 2012, Published under Cement NewsTangshan 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, China01 February 2012, Published under Cement NewsJiangxi 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 NewsChina’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, China19 January 2012, Published under Cement NewsAllied 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, China19 January 2012, Published under Cement NewsAnhui 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 profit18 January 2012, Published under Cement NewsChinese 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 producers13 January 2012, Published under Cement NewsCitigroup 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 price12 January 2012, Published under Cement NewsThe 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... |