Displaying items by tag: Gansu Qilianshan

China: China National Building Material (CNBM) says that its subsidiary Gansu Qilianshan Cement has issued shares. Reuters has reported that CNBM stated the reason for the issuance is ‘asset acquisition’ as part of the group’s on-going restructuring.

China: Gansu Qilianshan Cement followed the general downward trend in Chinese cement producers’ results in the first half of 2023. Reuters has reported that the company recorded a net profit of US$32.6m, down by 53% year-on-year from first half of 2022.

China: Gansu Qilianshan recorded a net profit of US$110m in 2022, Reuters has reported. The figure corresponds to a drop of 20% year-on-year from US$138m in 2021.

China: The State-owned Assets Supervision and Administration Commission (SASAC) has granted its subsidiary China Communications Construction Company (CCCC) approval to restructure. Reuters has reported that, under the plans, the company will transfer supporting finances to China National Building Material (CNBM) subsidiary Gansu Qilianshan Cement. Additionally, there will be a spin off and listing of CCCC subsidiaries CCCC First Highway Institute and CCCC Second Highway Institute.

China: China National Building Material subsidiary Gansu Qilianshan Cement recorded an operating income of US$581m in the first half of 2022, up by 20% year-on-year from US$485m. Despite this, the producer's net profit during the half declined by 16% to US$73.7m.

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.