Cement News tagged under: China
Fujian full-year net profit declines19 March 2014, Published under Cement NewsFujian Cement earned a net profit of CNY19.05m (US$3.074m) in 2013, a YoY decline of 30.38 per cent. Operating revenue rose by 12.4 per cent YoY to CNY1.82bn. The company attributed the downward trend in net profit to plant closures while it carried out technology upgrade projects, as well as a decrease in cement prices. |
UBS raises China Resources target price, maintains ‘buy’ rating18 March 2014, Published under Cement NewsUBS has raised its target price for China Resources Cement to HK$7.3 from HK$6 and maintained its ‘buy’ rating. The research house expects the South China cement market to remain solid in 2014-15. Market quoted cement prices in Guangzhou and Nanning have been CNY110/t (32.8 per cent) and CNY90/t (33.3 per cent) higher YoY, respectively. UBS said the Chinese cement producer is negotiating with the local government about taxes and it could receive a rebate in 2014. It has upgraded Chi... |
Asia Cement (China) seeks M&A activity, strategic alliances17 March 2014, Published under Cement NewsAsia Cement’s China subsidiary is seeking mergers and acquisition opportunities, as well as the creation of strategic alliances, to raise production capacity and boost its competitive edge. Asia Cement (China) will target cement producers in China, including small and medium-sized firms in different regions. In early January, Asia Cement and its Chinese subsidiary singed a strategic partnership with Anhui Conch and China Conch Venture Holdings to explore opportunities in sharing green te... |
Asia Cement attributable profit surges14 March 2014, Published under Cement NewsAsia Cement (China) said its profit attributable to owners for the year ended 31 December 2013 surged 108 per cent YoY to CNY823m (US$133.8m). Its basic and diluted earnings per share were CNY52.9 cents. The revenue was CNY7.33bn, an increase of 9.7 per cent from a year earlier. Gross profit rose 44.1 per cent YoY to CNY1.62bn, a gross profit margin of 22 per cent, up from 17 per cent in 2012. The increase in gross profit was mainly attributable to the increase of production capacity... |
Gansu Qilianshan full-year profit surges13 March 2014, Published under Cement NewsGansu Qilianshan Cement Group Co Ltd earned a net profit of CNY465m (US$75.8m) in 2013, a YoY surge of 167.77 per cent, the company announced in a statement. Meanwhile, operating revenue grew 36.83 per cent YoY to CNY5.81bn. |
Xinjiang Tianshan net profit declines13 March 2014, Published under Cement NewsXinjiang Tianshan Cement Co Ltd reported a net profit of CNY280m (US$45.62m) in 2013, a YoY fall of 12.08 per cent, the company announced on 12 March. Meanwhile, operating revenue grew 2.75 per cent YoY to CNY7.91bn. |
China Resources net profit increases 43.6% in 201310 March 2014, Published under Cement NewsChina Resources Cement Holdings Ltd earned a net profit of CNY3.34bn (US$544m) in 2013, a YoY increase of 43.6 per cent, the company announced on Friday. Meanwhile, operating revenue grew 15.8 per cent YoY to CNY29.34bn. The Hong Kong-based cement producer attributes the upward trend in performance to decreasing manufacturing costs and coal prices. |
Henan Tongli profit declines, China05 March 2014, Published under Cement NewsHenan Tongli Cement Co Ltd earned a net profit of CNY66.38m (US$10.83m) in 2013, a YoY decline of 59.58 per cent, China Business Newswire reported. Meanwhile, operating revenue decreased 2.89 per cent YoY to CNY4bn. The company attributed the downward trend in profit to low production capacity and a decrease in product price. |
China expected to announce relief measures to stimulate consolidation20 February 2014, Published under Cement NewsChina's State Council is expected to release specific measures to stimulate cement industry consolidation to address three key areas. A report published by China Perspective, states that HSBC anticipates that the government may strengthen financing support for the shakeup, including bank loans and equity placement or bond issuance from secondary market. Secondly, inefficient approval process may be simplified by the government, especially for cross-region deals. Finally, the governmen... |
China prices seen rising over 2014-1506 February 2014, Published under Cement NewsCement prices in China are expected to increase by 10 and five per cent in 2014 and 2015, respectively, according to research report by HSBC. As a result, higher prices as well as lower coal costs may offset rising costs from environmental protection monitoring, the bank expects. It expects gross profit in 2015 for cement companies to rise by 59 per cent compared to 2012. Over the next two years, the bank predicts the compound earnings growth of the cement sector would reach 35 per cent. C... |