Cement News tagged under: China
Fitch Ratings publishes Anhui Conch Cement’s Rating of 'A-'/Stable10 August 2015, Published under Cement NewsFitch Ratings has published Anhui Conch Cement Company Limited's (Conch) Long-Term Foreign-Currency Issuer Default Rating (IDR) and senior unsecured rating of 'A-'. The Outlook on the IDR is Stable. The rating's agency notes that Conch is one of the largest cement producers in China. Its principle business includes the manufacturing and selling of cement, clinker and aggregate products. Its credit assessment is driven by its geographically diversified operations, low-cost advantages, strong... |
China Resources 1H attributable profit falls 25.6%10 August 2015, Published under Cement NewsChina Resources Cement said its profit attributable to owners for the six months ended 30 June 2015 dropped 25.6 per cent YoY to HK$1530.2m. The basic earnings per share were HK23.4 cents. The turnover was HK$13,404m a decrease of 11.6 per cent from a year earlier. The consolidated gross margin was 25 per cent, representing a decrease of 6.9 percentage points from 31.9 per cent for the corresponding period last year, which was mainly attributable to the lower selling prices of cement and c... |
Asia Cement 1H profit plunges, China06 August 2015, Published under Cement NewsAsia Cement (China) said its profit attributable to owners for the six months ended 30 June 2015 plunged 97.4 per cent YoY to CNY9.85m, attributable to the decrease in average selling price of the company's products. The revenue was CNY3006m, a decrease of 23.1 per cent from a year earlier. The gross profit margin on revenue dropped to 14 per cent from 24 per cent. |
China: Shanshui Cement turn down share disposal offer30 July 2015, Published under Cement NewsShanshui Cement's chairman and general manager, Zhang Bin, has told the press that in response to the possible acquisition of company shares from CNBM and Asia Cement China, company shareholders have decided to decline the proposed disposal of shares. China Tianrui became the substantial shareholder of Shanshui Cement in April and proposed a change in the number of members in the board of directors. Afterwards, Asia Cement China and CNBM sent a letter and proposed for the entire acquisiti... |
China: Asia Cement gives 1H net profits warning27 July 2015, Published under Cement NewsAsia Cement said it expects to record a substantially lower net profit for the six months ended 30 June 2015 as compared with the same period in 2014. The decrease in net profit in first half of 2015 was primarily attributable to the decrease in average selling price of the company's products compared with that of the corresponding period of the previous year. It is expected the interim results announcement will be issued by the end of August. |
China Shanshui shareholders mull takeover bid22 July 2015, Published under Cement NewsChina Shanshui Cement Group Ltd said two of its largest shareholders are considering a takeover bid, Bloomberg reports. Asia Cement Corp of Taiwan and China National Building Material Co, which together own about 38 per cent of Shanshui Cement, are considering a general cash offer to acquire the shares they don’t already control, the companies said in a statement to Hong Kong’s exchange Tuesday. The proposal by Asia Cement and China National Building Material escalates the fight for contr... |
Sustained global cement demand growth expected21 July 2015, Published under Cement NewsGlobal cement consumption is expected to record sustained growth in 2015, with further gains forecast for 2016, according to analysis presented in the recently-released Global Cement Report Eleventh Edition. The report, which covers key cement market data for over 170 countries, reveals that total world consumption rose by 2.6 per cent in 2014 to 4140Mt, compared to the 7.7 per cent growth achieved in 2013. Global demand growth has been driven by the phenomenon of China, which has increased... |
China: Hubei ETS compliance deadline postponed13 July 2015, Published under Cement NewsChinese cement firms under Hubei's carbon market will be forced to spend millions of yuan to meet targets as authorities rejected pleas for leniency, but they now have more time to do so after the postponement of Friday's deadline, Reuters reports citing traders. Initially the 138 companies covered by the Hubei scheme, a third of which are cement firms, were supposed to hand over permits by 31 May 2015. The deadline was extended to 10 July, but 27 companies had still not got enough permits ... |
Conch reduces shareholding in two producers08 July 2015, Published under Cement NewsAnhui Conch Cement has sold its shares in Xinjiang Qingsong Building Materials and Chemicals Group and Tangshan Jidong Cement Co in the April-June 2015 period, according to Reuters. The disposals amounted to a net profit of US$217m, the report added. |
West China Cement appoints Liu Shan as director07 July 2015, Published under Cement NewsWest China Cement has appointed Liu Shan as non-executive Director. The appointment became effective on 1 July 2015. |