Cement News tagged under: China
Huaxin Cement’s largest shareholder buys 18.61m B-shares21 September 2012, Published under Cement NewsChina-based cement producer Huaxin Cement said that its largest shareholder bought a combined 18.61m B-shares (or a 1.98 per cent stake in the company) between December 23rd, 2011 and 17 September 2012. After the purchases, its largest shareholder indirectly holds 391 million shares (201 million A-shares and 190m B-shares), or a 41.87 per cent stake in Huaxin Cement. (Source: China Business Newswire). |
China MIIT unveils 1st batch qualified cement production lines20 September 2012, Published under Cement NewsChina's Ministry of Industry and Information Technology (MIIT) has published its first batch of qualified cement production lines. There are 108 cement production lines at 68 companies included in the list which have met the industry's access requirements. Companies such as Jidong Cement, Tianshan Cement, Anhui Wanwei Updated High-Tech Material Industry, Conch Cemen, Huaxin Cement and Henan Tongli Cenment Corp are included in the list. Orient Securities believes that investors can focus o... |
Morgan Stanley sees China recovery from 4Q1217 September 2012, Published under Cement NewsMorgan Stanley (MS) believes that the China cement industry showed some early signs for recovery, noting that prices have stopped declining on rising property construction following accelerating land sales. In addition, land sale revenue can help governments on construction capital. Therefore, MS believes that cement demand has turned steady, and a recovery can be expected in 4Q12 - 2013. The Bank added that with the slump in earnings, the cement manufacturers reduced capital expenditu... |
Tongli Cement to see restricted shares become tradable13 September 2012, Published under Cement NewsOn 11 September Henan Tongli Cement Co Ltd, a Shenzhen-listed cement producer, said that 96.24 million of its restricted shares will be tradable on 13 September. The shares account for 29.31 per cent of its share capital. |
Chinese stocks boosted on approved government infrastructure projects11 September 2012, Published under Cement NewsChina cement firms are outperforming the broader market on hopes that the government's recently approved infrastructure projects will boost their earnings; Anhui Conch Cement is up 3.8 per cent at CNY15.64 and Xinjiang Tianshan Cement is 9.6 per cent higher at CNY8.79. Last week, China's National Development and Reform Commission (NDRC) approved new subways, highways and other projects estimated at around US$156bn. The projects will be positive for steelmakers, cement producers, construct... |
China Tianrui Group to issue CNY500m notes10 September 2012, Published under Cement NewsChina Tianrui Group Cement Co has said it will issue CNY500m (US$78.9m) worth of medium-term notes with a maturity of three years in the interbank market on 17 September. The company, a leading clinker and cement producer in Henan and Liaoning provinces, said in a statement that the notes 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 18 September 18, and the to-be-issued notes tradable 19 September. A... |
West China Cement chairman shares buy positive - DB07 September 2012, Published under Cement NewsDeutsche Bank (DB) says according to Hong Kong Stock Exchange filings West China Cement’s chairman, Zhang Jimin, has been buying back shares for the last few weeks since Aug. 16 (7.2 million shares at a weighted average price of HK$1.20/share). It adds, Zhang's shareholding has increased by 15 bps to 38.53% of the total issued share capital. "We believe the chairman will continue buying shares at current levels given it appears he finds the current valuation attractive. More importantly, w... |
Huaxin sees 82.3 per cent slide in 1H12 net profit, China06 September 2012, Published under Cement NewsHuaxin Cement said net profit for the first half of 2012 fell 82.3 per cent YoY to CNY95.92m (US$15m). Operating revenue slid 1.53 per cent YoY to CNY5.49bn with basic earnings per share of CNY0.1. Huaxin Cement is 41.6 per cent controlled by Holcim. Last year, the Chinese producer continued its acquisition policy and purchased three works in the Hubei province with a combined capacity of 5Mta, giving Huaxin Cement a capacity of 58.5Mta which has increased further since year end. |
Yu Shiliang announced as new Sinoma chairman, Chairman06 September 2012, Published under Cement NewsFollowing the sudden death of Sinoma chairman Tan Zhongming on Sunday, the company has announced that vice chairman Yu Shiliang will succeed him as chair. Tan, who was in his late 50s, reportedly died of a heart attack while in France for a company roadshow. However, a statement by Sinoma said that he passed away “due to illness.” The state-owned company is one of China's five biggest cement producers. Tan was also a director of Sinoma's Shanghai-listed subsidiary, Sinoma International... |
S&P lowers West China Cement corporate rating, China04 September 2012, Published under Cement NewsStandard & Poor's Ratings Services lowered its long-term corporate credit rating on West China Cement Ltd. (WCC) to 'B+' from 'BB-'. The outlook is negative. The research house also lowered the issue rating on the China-based cement manufacturer's senior unsecured notes to 'B+' from 'BB-'. S&P said in a statement: “We lowered the rating to reflect our view of WCC's weakened liquidity position, given the company's low cash balance and high short-term debt. WCC's cash balance fell to CNY173m... |