Cement News tagged under: China
China Resources Cement 9M profit up 216%23 October 2017, Published under Cement NewsChina Resources Cement reported a 215.9 per cent rise in profit attributable to owners for the 9M17 to HKD2648.6m (US$ 339.4m) . Turnover increased 16.4 per cent to HKD20,344.9m in the first nine months. The consolidated gross profit saw a 36 per cent YoY advance to HKD6023.6m. The consolidated gross margin was 29.6 per cent, representing a rise of 4.3 percentage points over 25.3 per cent reported in 9M16. The increases in consolidated gross profit and gross margin were mainly attri... |
Xinjiang cement industry returns to profit19 October 2017, Published under Cement NewsThe cement industry in Xinjiang province is faced with higher rates of overcapacity than any other part of China, making losses in three consecutive years. However, sector reform is expected to return the industry to profit, according to a government official. Cement makers in Xinjiang have taken on a staged approach to operation, under which they stop production during the winter heating period and pick back up in the spring, which has played a positive role in reducing overcapacity. ... |
China will impose new environmental tax from 1 January 201804 October 2017, Published under Cement NewsBusinesses in China are being urged to prepare themselves for a new environmental tax for the start of next year. China will abandon its current system under which polluters are charged locally in favour of the nationwide environmental protection levy to reduce air, soil and water contamination, reports South China Morning Post. The new regime will see firms that cause pollution taxed under a uniform set of national rules rather than the fees being collected at the local level. For instance... |
Anhui Conch25 September 2017, Published under Cement NewsAnhui Conch saw its shares rise by five per cent earlier this month on the back of analyst predictions of a rise in cement prices. Limited supplies and an uptick in construction activity is expected to drive up all building material prices, including cement, in the closing quarter of this year. According to some analysts, cement prices in China the 4Q17 could surpass the high seen in the second quarter of this year. China’s average cement price rose by 0.3 per cent in the opening half of ... |
CNBM & Sinoma merger could complete by year-end12 September 2017, Published under Cement NewsChina National Building Material Group Co (CNBM) said that it will complete merging with China National Materials Group Corp (Sinoma) by December or early next year. The announcement came after nine subsidiaries of the two groups suspended trading last week. Various media outlets, quoting business insiders, indicated they were accelerating the merger. The merger was first unveiled in August last year after the State Council, or China’s Cabinet, approved the deal. The exchange ratio has ... |
S&PGR upgrades Anhui Conch Cement06 September 2017, Published under Cement NewsS&P Global Ratings (S&PGR) today raised its long-term corporate credit rating on Anhui Conch Cement Co. Ltd. (Conch Cement) to 'A' from 'A-'. The outlook is stable. "We raised the rating on Conch Cement because we expect the company to continue to lower its financial leverage over the next 12-24 months owing to a likely improvement in its operating efficiency and a disciplined approach to investment and expansion," the rating's agency said. In its base case, S&PGR expect Conch Cement's ... |
China Tianrui attributable profit surges29 August 2017, Published under Cement NewsChina Tianrui Group Cement Co said its profit attributable to owners for the six months ended 30 June 2017 surged 175 per cent YoY to CNY489m (US$74m). Revenue amounted to CNY3785m, an increase of 22.3 per cent from a year earlier. Gross profit grew 51.3 per cent YoY to CNY1174m. Gross profit margin increased to about 31 per cent in the first half of 2017 from 25.1 per cent in the same period of 2016. The increase in gross profit margin was primarily due to the significant increase in the... |
Anhui Conch Cement Co revenue up 33.1%22 August 2017, Published under Cement NewsAnhui Conch Cement Co Ltd said revenue for the first six months ended 30 June 2017 increased by approximately 33.1 per cent YoY to CNY31,907.92m (US$4794m). Profit attributable to equity shareholders amounted to CNY6.7bn, representing an increase of approximately 100.64 per cent over the corresponding period of last year. The company attributed the boost to a ‘significant’ increase in prices and continued discipline with production and operation costs. During the period the group real... |
West China Cement sees improved operating environment17 August 2017, Published under Cement NewsWest China Cement Ltd and its subsidiaries reported on an improving operating environment in the first half of 2017 with sales volumes in the Shaanxi province remaining stable while volumes in the Xinjiang and Guizhou provinces registering slight increases. Total group sales volumes of cement and clinker were 8.76Mt, up from the 8.39Mt recorded in 1H16. group’s capacity as at 30 June 2017 has reached 29.2Mt of cement. The group said it has maintained a strong market position in its s... |
Cement imports surge in Costa Rica16 August 2017, Published under Cement NewsThe import of cement into Costa Rica has skyrocketed in the past two years, according to El Financiero Costa Rica. In 2014 the Latin American country imported 10,418t of cement but in 2016 this figure had increased more than tenfold to 107,294t. The steep rise has been particularly noted since 2015, when the Ministry of Economy, Industry and Commerce (MEIC) changed the regulations regarding hydraulic cements, changing storage conditions and the flexibility of the marketing period. ... |