Displaying items by tag: China Shanshui Cement

China: China Shanshui Cement recorded sales of US$1.92bn during the first nine months of 2023, down by 15% year-on-year from US$2.25bn during the first nine months of 2022. Reuters has reported that the company made a US$25.7m loss during the period, compared to a profit of US$139m in the corresponding period of 2022.

China: China Shanshui Cement has warned investors of an anticipated net loss during the first half of 2023. Dow Jones Institutional News has reported that the group expects to record a '145 - 150%' year-on-year decline in its profit compared with first-half 2022 levels. It attributed this to a fall in the price of its cement throughout the period.

China: The first nine months of 2022 brought a 6.1% year-on-year decline in China Shanshui Cement's sales to US$2.3bn, from US$2.45bn in the first nine months of 2021. Its net profit was US$142m, down by 43% year-on-year from US$248m.

China: China Shanshui Cement’s first-half sales fell by 2.5% year-on-year to US$1.5bn. The producer’s net profit for the half was US$70.6m, down by 60% from US$178m.

China: China Shanshui Cement has forecast full-year consolidated operating revenues for 2021 of US$3.88bn, up by 18% from 2020 levels. Its profit meanwhile dropped by 13% to US$437m.

China: China Shanshui Cement has increased its nine-month consolidated sales by 15% year-on-year to US$2.75bn in 2021 from US$2.40bn. It net profit in the period fell by 24% to US$279m from US$365m.

China: China Shanshui Cement recorded a consolidated net loss of US$38.7m, down by 34% year-on-year from US$59.0m. ET Net News has reported that its operating sales increased by 70% to US$481m.

China: China Shanshui Cement’s revenue grew by 19% year-on-year to US$2.63bn in 2018 from US$2.2bn in 2017. Its profit from operations nearly doubled to US$563m from US$295m. It reported growth in most of its operating regions, with the exception of Xinjiang Region, where revenue fell slightly to US$71.1m. It attributed its overall sales revenue growth to raised prices.

China: Chong Cha Hwa has resigned as a non-executive director from China Shanshui Cement due to physical trauma suffered during the ‘illegal’ occupation of the Jinan properties of its Shandong Shanshui in early April 2017. Chong said that the occupation had impeded him from carrying out his duties.

China: Shareholders of China Shanshui Cement have voted to keep Chairman Zhang Bin at a meeting on 13 October 2015 amid a fight for control of the nation's seventh-largest cement maker that has been ongoing since April 2015.

China Shanshui Cement held an extraordinary general meeting during which a proposal from its largest shareholder, Tianrui International Holding Co, to get rid of Zhang was rejected after receiving a 99.9% no vote. Tianrui International, which has a 28.16% interest, has been trying to change Shanshui's management and had another failed attempt in July 2015.

Shareholder clashes may become more common in China as President Xi Jinping encourages the culling of weaker companies in industries that are grappling with overcapacity. Two of Shanshui's other shareholders, China National Building Material Co and Taiwan's Asia Cement, which combined hold 37.6%, said in September 2015 that they will make a joint conditional cash offer to acquire all the outstanding shares they don't already control. The duo reiterated on 9 October 2015 they're still considering that course of action.
China Shanshui Cement had also initially called the extraordinary general meeting to vote on the appointment of Li Liufa, a founder of China Tianrui Group Cement Co, as Chairman of China Shanshui Cement. But China Shanshui Cement said on 12 October 2015 that it hasn't yet received a notice regarding that, making the proposed appointment no longer applicable.
Shareholders voted 95.1% in support of the removal of Zhang Caikui, Zhang Bin's father, as an Executive Director at the 13 October 2015 meeting. Li Cheung Hung and Wu Xiaoyun also had 99.9% of votes cast for their removal. Li was the Joint Company Secretary of China Shanshui Cement while Wu is a professor of the University of Nankai.