Displaying items by tag: Gansu Qilianshan

China: Gansu Qilianshan Cement plans to restructure its business. The group says that, should it proceed with its proposed restructuring, it will issue shares. Reuters News has reported that the restructuring may constitute a material asset restructuring.

China: Gansu Qilianshan Cement has announced that it expects to record a profit of US$208m in the first nine months of 2020, up by 41% year-on-year from US$147m in the corresponding period of 2019, according to Reuters. It said the results would be in line with its growth trajectory thanks to a significant increase in demand towards the end of the first half of 2020.

China: Gansu Qilianshan Cement Group made a net profit of US$147m in the first nine months of 2019, representing an increase of 89% from its nine-month profit to 30 September 2018 of US$78m. Operating income recorded a comparatively slow growth of 21% to US$737m from US$610 in the corresponding 2018 reporting period. The company attributed its profitable results to tactical divestments.

Kyrgyzstan: Gansu Qilianshan Cement and 8th Metallurgical Corporation have signed a memo on the joint construction of a cement production line project in Osh, Kyrgyzstan with contractor JBK. The three parties plan to spend US$130m building the cement line. The Chinese and Kyrgyzstan sides hold 80% and 20% of the project respectively.

National: The Ministry of Industry and Information Technology has released a third list of 58 companies, including cement companies, which should cut their excess production capacity by the end of 2013 as a part of the country's economic restructuring drive. The ministry said that local authorities must ensure that overcapacity is eliminated, rather than transferred to other regions.

Regional: South-eastern Fujian province produced 52.1Mt of cement in the first eight months of 2013, a year-on-year increase of 13.3%, according to data released by the local statistics bureau. Jiangxi Province produced 54.8Mt of cement in the first eight months of 2013, a year-on-year increase of 21.1%.

Central Hubei province saw cement output increase by 8.3% year-on-year to 60.3Mt in the first seven months of 2013.

North-west Shaanxi province saw cement output total 53.9Mt in the first eight months of 2013, a year-on-year increase of 9.3%.

Southern Hainan province has produced 10.5Mt of cement in the first seven months of 2013, a year-on-year increase of 26.3%. South-central Hunan province produced 9.47Mt of cement in August 2013, a year-on-year decrease of 2.8%.

Corporate: Gansu Qilianshan Cement Group plans to spend US$43.4m on acquiring a 100% stake in Longnan Runji Cement to expand into the Gansu province market. Runji Cement currently operates a 2500t/day dry-process cement plant.

Production: China saw cement output increase by 10.8% year-on-year to 237Mt in the first two months of 2013, according to recent data released by the National Bureau of Statistics.

45 companies in Xinjiang Uyghur Autonomous Region produced a total 466,000t of cement and 2.67Mt of clinker in the first two months of 2013, a year- on-year decrease of 9.28% and 37.27% respectively, according to sources quoted by China Business Newswire.

Guangdong Province produced 118Mt of cement in 2012.

Company news: China Shanshui Cement has reported that its net profit fell by 31.8% to US$245m in 2012. Its revenue fell by 4.2% to US$2.6bn in 2012. Total sales volume of cement and clinker rose by 3.5% to 56.9Mt. It attributed the decrease in net profit to the fall of selling prices as a result of decline in demand.

West China Cement has reported that its net profit rose by 44.9% to US$57.9m in 2012. Operating revenue grow by 10.5% to US$566m. The company saw cement sales rise by 22.2% to 14.3Mt.

Fujian Cement has reported a slump in net profit of 76.9% to US$4.63bn in 2012. Operating revenue fell by 13.7% to US$261m. The company expects to earn US$359m in operating revenue in 2013.

Gansu Qilianshan Cement Group sold 15.3Mt of cement and cement clinker in 2012, a year-on-year increase of 29.2%. Currently the company has a cement production capacity of 21.3Mt/yr and it aims to reach a capacity of 45Mt/yr by the end of 2015. Gansu Qilianshan Cement Group Co has announced in its annual report for 2012 that the company saw its net profit drop by 47.8% year-on-year to US$28m in 2012. The company's operating revenue rose by 17.28% year-on-year to US$684m in 2012.

Xinjiang Tianshan Cement Co Ltd has reported that it saw net profit drop by 71.8% year-on-year to US$51.3m in 2012. The company attributed the net profit drop to overcapacity in the cement industry in 2012. Tianshan Cement's operating revenue for 2012 fell by 6.99% year-on-year to US$1.24bn.

Shenzhen-listed cement producer, Sichuan Shuangma Cement Co has announced that it earned a net profit of US$1.37m in 2012, a year-on-year decline of 90%. The company's operating revenue for 2012 decreased by 8.3% on-year to US$301m.

China: Shares in China Resources Cement Holdings fell by as much as 5% on the Hong Kong stock-exchange today after the cement maker warned of a sharp fall in first-half earnings. Its losses demonstrate that weaknesses in the world's second-largest economy are starting to hit corporate profits. An increasing number of companies are feeling the pinch of a slowdown in consumer demand and the economy as a whole.

China's central bank cut its policy rates in June 2012 for the first time since the onset of the global financial crisis because economic data for April and May 2012 suggested that growth was weakening more than previously thought.

Yesterday, Gansu Qilianshan Cement, a small Shanghai-listed cement producer, forecast that its net profit would decrease by at least 50% year-on-year in the first half of 2012. In the first half of 2011 it made a net profit of US$38.9m.