Gansu Qilianshan hit by declining prices, China

Gansu Qilianshan Cement Group Co said that its net profit attributable to shareholders plunged 89 per cent YoY to CNY26.49m (US$4.2m) in the first half of this year due to a sharp fall in selling prices

Basic earnings per share for the period were CNY0.06, less than CNY.52 it booked in the corresponding period of last year.

According to a statement filed with Shanghai Stock Exchange, the company saw its operation revenue reached CNY1.86bn for the period, reflecting a YoY increase of 10 per cent.

From January to June, Qilianshan Cement produced a total of 5.93Mt of cement, while the sales of cement and clinker amounted to 6.34Mt.