Displaying items by tag: Dongwu Cement

China: Chen Xuanlin has resigned as the chief investment officer of Dongwu Cement. In a statement the company said that Chen wanted to, “to pursue his career development and concentrate on his own business engagement.”

China: Dongwu Cement recorded consolidated sales of US$25.9m in the first half of 2022, down by 26% year-on-year from US$34.8m in the first half of 2021. The company’s loss was US$2.54m, compared to a US$3.76m profit in the previous period. At 30 June 2022, Dongwu Cement’s cement segment’s borrowings were US$14.8m, down by 4.5% from US$15.5m at the beginning of the year.

China: Dongwu Cement has predicted a net profit of US$1.71m in the first half of 2020, down by 62% year-on-year from US$4.56m in the first half of 2019. Company chairman Liu Dong said the expected decrease was “primarily attributable to a decline in sales volume and sales price of the group’s products resulting from the outbreak of the coronavirus pandemic during the period.”

China: Dongwu Cement has appointed Liu Dong as chairman and Wu Junxian as chief executive officer (CEO) following the resignations of Xie Yingxia and Jin Chungen for personal and retirement reasons respectively.

Liu, aged 51 years, has been an executive director of Dongwu Cement since mid-2019. Since leaving university he worked as a diplomat for the Chinese government and the United Nations. From 2005 he has held a number of senior positions at companies including Orient Holdings Group, Huilitong Industry, Sunshine Oilsands, Orient International Resources Group, Global Mining and Sino-Sindh Resources. He holds over ten years’ experience in capital market and investor relationship sectors in Hong Kong and has a Master of Philosophy from the University of Cambridge.

Wu, aged 39 years, is an executive director of Dongwu Cement and the general manager of Suzhou Dongwu Cement. He joined the group in 2009, and has held various positions in Suzhou Dongwu such as assistant to general manager and deputy general manager. He became general manager of Suzhou Dongwu in 2013. Previously, Wu worked for Orient Holdings and Shanghai Keli Communications Technology. He holds a bachelor degree in management administration from Nanjing Audit University.

China: DongWu Cement’s net profit over the six months to 30 June 2019 was US$4.83bn, up by 20.6% from US$4.00bn over the same period of 2018. Its cement segment reported a net profit of US$5.37bn, up by 9.1% from US$4.92bn in the corresponding period of 2018.

In its financial statement, DongWu noted a year-on-year growth in China’s total cement output of 6.8% to 1.05Bnt in the first half of 2019, with prices also increasing by 4.1% to US$60.9/t, though growth rates have slowed.

Infrastructure developments have driven swelling demand, while compressed supply has brought the centrally organised economy’s cement reserves to a medium-low level.

China: Dongwu Cement sales rose by to US$77.4m in 2018 from US$53.3m in 2017. Its profit more than tripled to US$13.4m from US$3.7m. Its cement sales volumes grew by 5% to 1.45Mt. It attributed its sales and profit growth to increasing cement prices.

China: Dongwu Cement turnover has been boosted by rising cement prices in the first half of 2018. Its sales revenue rose by 60% year-on-year to US$31.9m in the first half of 2018 from US$19.9m in the same period in 2017. Its profit more than doubled to US$4.18m from US$1.47m. Its sales volumes of cement grew by 11% to 0.67Mt from 0.6Mt.

China: Dongwu Cement has forecast that its sales revenue will rise by 60% year-on-year to US$56.4m in 2017 from US$35.2m in 2016. It has attributed the boost to increased sales volumes and the price of cement, according to ET News. Its profit is forecast to more than double to US$10.7m from US$2.37m. The cement producer will release its full annual results later in March 2018.