Cement News tagged under: North Asia
Asia Cement forecasts 75% fall in profit20 January 2023, Published under Cement NewsAsia Cement (China) Holdings Corp has issued a profit warning stating that its unaudited profit attributable to equity holders for 2022 is expected to decline by approximately 75 per cent YoY. This is being blamed on a fall in sales volumes and selling prices of the company’s products, along with an increase in the cost of coal, compared to 2021. Full results for 2022 will be published at the end of March 2023. |
China Shanshui Cement issues profit warning for 202218 January 2023, Published under Cement NewsChina Shanshui Cement has issued a profit warning, saying that it expects to report a fall in profit of at least 70 per cent in 2022. According to the company, attributable profit for the year is forecast to have contracted by at least 70 per cent, compared to the CNY2.78bn (US$410.8m) recorded in 2021. |
China Resources Cement issues profit warning for 202213 January 2023, Published under Cement NewsChina Resources Cement Holdings Ltd has issued a profit warning saying that it expects its profit attributable to owners of the company to contract by 74-78 per cent YoY in 2022. The fall is being attributed to a rise in the unit cost of sales of cement products by the group in 2022, compared to the previous year, along with lower sales volumes over the 12-month period. 2022 also saw lower average selling prices for cement and clinker in the regions in which the company operates, versus... |
BBMG warns of 59% profit fall in 202213 January 2023, Published under Cement NewsChina-based cement producer BBMG Corp has announced that it expects to report a 52-59 per cent YoY decline in net profit attributable to shareholders in 2022. Net profit for the year is forecast come in at CNY1200m-CNY1400m (US$177m-207m). Net profit attributable to shareholders after deducting non-recurring profit and loss is predicted to be around CNY350m-550m, representing a YoY fall of 120-132 per cent. Over the same period the company recorded consolidated sales volumes of cement and... |
Sangwon Cement to increase production in 202306 January 2023, Published under Cement NewsThe workers of the Sangwon Cement complex in North Korea are making innovations in cement production and implementing the decisions of the Sixth Plenary Meeting of the Eighth Central Committee of the Workers’ Party of Korea. On the basis of successes and experience gained last year, the cement plant has proactively conducted the organisational and political work to improve the main burner flame efficiency and to increased production in 2023. Precalciner improvements are also increas... |
CR Cement opens new 10Mta aggregates line23 December 2022, Published under Cement NewsProduction has begun at the new aggregates line of China Resources Cement ’s (CR Cement) subsidiary Guangxi Runhan New Materials in Guangxi Province, China. It marks the third large-scale aggregates project by CR Cement in Guangxi in the last two months following those in Shangsi and Tianyang. The 10Mta line, located in Nanning, officially commenced production on 21 December 2022 and marks an investment of CNY1.3bn (US$186m). Construction began in May 2022. The company says that the pro... |
Chongqing Sifang resumes operations12 December 2022, Published under Cement NewsChina-based cement producer Chongqing Sifang New Materials has resumed operations following the lifting of COVID-19 restrictions in the country, according to Reuters. Prolonged pandemic control measures in China, coupled with the monsoon season in the south, kept demand for construction materials weak in the second quarter of 202s, reported Fitch Ratings. Government stimulus packages plus the relaxing of restrictions has led to an uptick in demand in the second half of 2022. |
Dongwu Cement chief investment officer resigns05 December 2022, Published under Cement NewsMr Chen Xuanlin has resigned as non-executive director and chief investment officer of Dongwu Cement International, effective from 2 December 2022. According to the company, Mr Chen is leaving to “pursue his career development and concentrate on his own business engagement.” “Mr Chen has confirmed that he has no disagreement with the Board and there are no matters with respect to his resignation that need to be brought to the attention of the shareholders of the company and The Stock E... |
Asian outlook on carbon capture, utilisation and storage18 November 2022, Published under Cement NewsThis week Asia Cement announced that it would be employing TCRK's Arago Cement Process to utilise captured CO2, cement kiln dust and by-pass particles in the cement production process in South Korea from 2025. ICR reviews the opportunities for carbon capture utilisation and storage (CCUS) for cement producers in the Asian region. The Asia Cement Co project will include a fully commercial-scale deployment of TCRK CCUS technology. Initially it will target 30,000tCO 2 e per year, rising to 1... |
Universal Cement sees 3Q profits surge15 November 2022, Published under Cement NewsTaiwan-based Universal Cement Corp reported a 22.7 per cent YoY increase in revenue to TWD1783.1m (US$57.6m) in the third quarter of 2022 from TWD1453.2m in the same period a year earlier. Pretax profit advanced by 158 per cent from TWD240.1m in the 3Q21 to TWD618.7m in the 3Q22 while net profit surged 193.8 per cent YoY from TWD194m to TWD570m. |