Displaying items by tag: China Tianrui Group Cement

China: China Tianrui Group Cement has appointed Li Liufa as its chair. He succeeds Li Xuanyu in the role, who has resigned due to “other work commitments.”

Li Liufa is the founder of Tianrui Group. He has been a non-executive director of China Tianrui Group Cement since 2011 and became a member of its nomination committee in 2018. He is responsible for our group’s overall strategic planning and the management of its business. Li was the head of Shanshui Cement from 2015 to 2018. He has also held representative positions for Henan province to the National People’s Congress on a number of occasions between 2003 to 2018. Li holds an executive master of business administration from Peking University. Li Liufa is the father of Li Xuanyu.

China: Shares of China Tianrui Group Cement plummeted by 99% in just 15 minutes before Hong Kong’s stock market closed on 9 April 2024, according to Reuters. This led to a decrease in the market value of the company, to US$17m from US$1.86bn. The cause of the sudden drop remains unknown and trading in Tianrui shares is suspended pending an announcement on ‘inside information’.

In the 2023 financial year, the company recorded a net loss of US$45.8m, compared to its US$62m net profit in 2022. This downturn is partly attributed to the struggles in China's property sector.

China: China Tianrui Group Cement's sales were US$1.09bn in 2023, down by 32% year-on-year from US$1.60bn. Reuters has reported that the company recorded a full-year loss of US$87.6m, where previously it recorded a profit of US$62m in 2022.

China: China Tianrui Group Cement has signed a new loan facility agreement. Reuters has reported the value of the loan as US$23.1m.

China: China Tianrui Group Cement settled a term loan facility on 9 January 2023. Reuters has reported the value of the facility as US$30m.

China: Tianrui Group Zhengzhou has repaid its previously outstanding loan facility. Reuters News has reported that parent company China Tianrui Group says the company has withdrawn a new US$15.5m loan.

China: China Tianrui Group Cement says that it has secured a loan worth US$14.4m. Reuters has reported that a Chinese bank granted the loan, which will support capital expenditure projects in the current fiscal year.

China: China Tianrui Group Cement has secured a new agreement with Ruiping Shilong for the supply of its clinker. The company announced that under the new arrangement, valid until 31 December 2021, it will buy clinker at a rate possibly exceeding the US$74m/yr cap stipulated in the 1 April 2019 agreement which covered the same period.

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.