Cement News tagged under: China
Tangshan Jidong to issue short-term bills, China08 March 2013, Published under Cement NewsTangshan Jidong Cement Co Ltd has announced that it plans to issue CNY1bn in unsecured short-term bills with a maturity of 365 days on the interbank market on 14 March. The coupon rate will be determined in the process of book-building and the bills issued at face value. Both value date and payment due date is on 15 March and the to-be-issued bills tradable on 18 March. China Lianhe Credit Rating Co Ltd has rated the issuer and bills AA+ and A-1, respectively. Ping An Bank Co has been ... |
Macquarie more positive on China cement sector07 March 2013, Published under Cement NewsResearch house Macquarie is turning more positive on the cement sector and expects to see more signs of downstream demand recovery in mid-2013 following a recent market visit. Macquarie has lifted its target price for Anhui Conch to HK$30 from HK$17.5, and upgraded the stock to "neutral" from "underperform". It has increased its 2013-14 earnings forecast by 8-11 per cent to factor in stronger consolidation-driven volume growth in the coming 2-3 years. Macquarie is It has also lifted i... |
China Resources in loan agreement06 March 2013, Published under Cement NewsChina Resources Cement has entered into an agreement relating to a HK$200m (US$25.8m) three-year term loan facility with a bank. Under the agreement, it shall be an event of default if China Resources (Holdings) Company Limited ceases to hold at least 51 per cent of the issued share capital of China ResourcesCement. CRH currently owns around 73.34 per cent interest in China Resources. |
Tianrui Cement's net profit falls 38.5% YoY06 March 2013, Published under Cement NewsChina Tianrui Group Cement announced that the company saw net profit reach CNY783m (125.9m) in 2012, a YoY decline of 38.5 per cent. The Henan Province-based clinker and cement producer said its operating revenue fell 8.1 per cent YoY to CNY7.59bn, with basic earnings per share of CNY0.33 |
China Resources Cement profit down by 44.4%05 March 2013, Published under Cement NewsChina Resources Cement (CRC) reported a 44.4 per cent loss in net profit attributable to shareholders last year to HK$2.32bn (US$299m). In 2012, the firm's turnover rose 9.1 per cent from a year earlier to HK$25.35bn. The sales volume of cement and clinker surged by 26.5 per cent and 36 per cent, respectively. The average cement price, however, decreased 12.23 per cent to CNY324.3/t while clinker prices were down clinker 16.1 per cent to HK$257.1/t. Looking ahead, Barclays says CR Cement'... |
Tongli Cements reports decline in 2012 profit01 March 2013, Published under Cement NewsHenan Tongli Cement has reported a 2.38 per cent decline in operating revenue for 2012 to CNY4.12bn (US$661m). The company's net profit for 2012 fell 31.79 per cent YoY to CNY164m, with basic earnings per share of RMB 0.5, according to reports in China Business Newswire. Tongli Cement plans to convert three shares from the capital surplus for every ten shares based on its share capital of 328 million shares. |
China Resources in proposed joint-venture agreement, China26 February 2013, Published under Cement NewsChina Resources Cement has entered into a two-year framework agreement with Zhihai Group Co Ltd to establish a joint venture. The new venture intends to acquire clinker production lines with a capacity of around 1.55Mta, cement grinding lines with amounting to around 4.3Mta and concrete batching plants with a total capacity of about 5.8Mm3. China Resources will hold the majority interest of the joint venture. It is expected that the acquisition of the assets/business will be completed ... |
Prosperity Minerals to dispose of its stake in TCC Liaoning, China08 February 2013, Published under Cement NewsProsperity Minerals has signed a conditional sale and purchase agreement with TCC International Holdings Ltd to sell its 16.11 per cent interest in TCC Liaoning for CNY144.5m (approximately US$23m). The company said in a statement that the completion of the disposal is subject to TCC International obtaining the necessary approvals from the Taiwan Investment Commission and its compliance with the listing requirements in Taiwan and Hong Kong Prosperity acquired its interest in TCC Liao... |
TCC International issues profit warning07 February 2013, Published under Cement NewsTCC International Holdings Ltd could be facing a 60 per cent drop in 2012 profit due to slowing demand and pricing pressures in China. The company, a subsidiary of Taiwan Cement, filed a profit warning to the Hong Kong Stock Exchange, forecasting that full-year 2012 net profit could drop significantly due to a supply glut and a decline in Chinese cement prices. TCC operates in several provinces in China including Guangdong, Fujian and Anhui. TCC said in a statement that in the first ha... |
China Tianrui to issue unsecured bills, China28 January 2013, Published under Cement NewsChina Tianrui Group Cement Co is to issue CNY2bn (US$321m) in unsecured bills with a maturity of 365 days on the interbank market on 31 January. The company, which is a leading clinker and cement producer in Henan and Liaoning provinces, said that the bills will be issued at face value, and the coupon rate determined in the process of book-building. Both value and payment due date is set on 1 February, and the to-be-issued bills tradable 4 February. All the proceeds from the issue will b... |