Anhui Conch Cement 0914

Anhui Conch Cement 0914

Postby winston » Tue May 20, 2008 7:41 am

Anhui Conch sets up for Sichuan rebuild

Top Chinese cement producer Anhui Conch Cement (0914) plans to speed up capacity expansion in the aftermath of the most devastating earthquake to hit the country in decades, filling a need with Beijing expected to launch a multibillion-dollar reconstruction effort.

The company now plans to invest up to 5 billion yuan (HK$5.56 billion) to build three new plants in Sichuan province - one in the city of Guangyuan and two in Dazhou - with a total capacity of 12 million tonnes a year by 2010, executive director Guo Jingbin said.

"There will be a huge amount of reconstruction works after the earthquake, and this will boost demand for cement," Guo said. "Beijing will lift standards for building nationwide. We could see that old buildings and roads cannot survive a major tremor."

Anhui Conch also plans to expand to other parts of western China, including the city of Chongqing and the provinces of Gansu, Guizhou and Shaanxi. In all, its western expansion could boost the company's capacity by 50 million tonnes in the next three to five years and cost 15 billion yuan, Guo said.

Guo expects sales in the shorter term to rise about a fifth to more than 120 million tonnes in 2009 from more than 100 million this year. The firm sold 86.5 million tonnes of cement and clinker last year, exporting 15.8 percent. REUTERS
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Re: Anhui Conch Cement 0914

Postby winston » Fri Sep 12, 2008 4:27 pm

Not vested.

Conch Shares Slump on Speculation China Property Demand to Fall
By Lee Spears

Sept. 12 (Bloomberg) -- Anhui Conch Cement Co., China's biggest maker of the construction material, dropped for a third day in Shanghai to a two-year low on concern that declining demand for property in the country will hurt cement sales.

Conch fell as much as the exchange's 10 percent daily limit, and was down 8.7 percent at 22.79 yuan, the lowest since November 2006, as of the 11:30 a.m. trading break. The stock was the day's biggest decliner in the benchmark CSI 300 Index.

China's property market could be headed for a ``meltdown'' as home prices and sales slump, Morgan Stanley said today in a research note. Property demand in Chinese cities has dropped by as much as half since the government last year raised minimum downpayment requirements and increased rates on some mortgages to cool home prices, according to CSC Securities HK Ltd.

``Lower property prices indicates that real estate investment may be down in eastern China, which is a key market for Anhui Conch,'' said Jay Zhou, a Shanghai-based analyst at Sinopac Asia Securities Ltd. ``Cement demand may be adversely affected.''

Conch's Shanghai-traded shares are down 19 percent in the last three days compared with the 2.5 percent decline in the CSI 300.

The stock has plunged 61 percent this year, and Conch's Hong Kong-traded shares have slid 57 percent; both have outpaced losses in their respective markets. The Hong Kong shares fell 1.7 percent as of 12:12 p.m., declining for a fourth straight day to HK$29.
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Re: Anhui Conch Cement 0914

Postby winston » Mon Jan 12, 2009 2:41 pm

DJ MARKET TALK: CS Raises Anhui Conch Target To HK$48 From HK$35

1203 [Dow Jones] STOCK CALL: Credit Suisse raises Anhui Conch (0914.HK) target price to HK$48.00 from HK$35.00 on expectation 2009 unit EBITDA to rise to US$8.70/ton vs 2008's US$7.60/ton. Cuts FY08 EPS forecast by 3%, but raises FY09-10 EPS forecasts 8%, 1%.

Says cement remains favored sector in 2009 despite expecting demand to remain soft in 1H09 as tips 2H09 improvement in supply/demand on government's stimulus plan, relatively low net supply growth. Keeps stock at Outperform, tips as high-quality, large-cap play on Chinese cement sector. Shares down 5.5% at HK$35.05. (LES)
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Re: Anhui Conch Cement 0914

Postby winston » Thu Jan 15, 2009 10:46 am

BROKER CALL HK-listed Anhui Conch Cement target hiked to 48 hkd - Credit Suisse

BEIJING (XFN-ASIA) - Credit Suisse said it is hiking its target on Anhui Conch Cement Co Ltd to 48 hkd from 35. "Cement remains our most favoured sector for 2009, as supply/demand is set to improve in the second half. We expect strong net demand growth, driven by government's stimulus plan and relatively low net supply growth, with upside risk in the demand side," Credit Suisse said in a note. The call is "buy." Hong Kong-listed Anhui Conch opened today down 3.31 pct at 33.55 hkd.
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Re: Anhui Conch Cement 0914

Postby winston » Wed Feb 18, 2009 2:53 pm

DJ MARKET TALK: Macq Cuts Anhui Conch To Neutral; Execution Risks

1156 [Dow Jones] STOCK CALL: Macquarie cuts Anhui Conch Cement (0914.HK) to Neutral from Outperform, keeps target price at HK$40. House remains positive on overall cement story, as Conch remains one of best exposures to Chinese infrastructure cycle, but says risks now on downside in execution, regrowing Chinese economy; says current stock price factoring in large improvement in volumes, company now needs to deliver on this into 2H09 to maintain premium rating.

Adds, stock trading at 19X FY09 P/E; "we need to upgrade earnings in order to remain positive." Stock down 1.5% at HK$36.85, HSI down 1.4%
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Re: Anhui Conch Cement 0914

Postby winston » Wed Mar 18, 2009 2:02 pm

DJ MARKET TALK: MS Upgrades Anhui Conch Cement To Equalweight

1127 [Dow Jones] STOCK CALL: Morgan Stanley raises Anhui Conch Cement (0914.HK) to Equalweight from Underweight and raises target price to HK$38.00 from HK$30.00 on expectation of strong 2009 earnings growth of 50% on-year due to new capacity in West China, rising prices, and profits.

Says house recently met with major cement producers and property developers, notes producers believe despite tepid pricing and sales volume in January-February, pricing should bottom and start to pick up in late March or April. Shares +0.5% at HK$41.80.
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Re: Anhui Conch Cement 0914

Postby winston » Tue Mar 31, 2009 11:21 am

DJ MARKET TALK: Conch Best Bid HK$44.35 Pre-Mkt; Citi Tips Hold

0935 [Dow Jones] At pre-open Anhui Conch Cement (0914.HK) best bid at HK$44.35, ask same as Monday's close at HK$44.55; stock set to face more profit-taking with FY results coming out at lower end of market expectations, 10-day moving average at HK$44.04 likely tested.

Citigroup notes share price has run ahead of its target price of HK$38.50, tips stock to pull back near term on weaker-than-expected results, poor 1Q data; keeps Hold call as "we continue to like longer-term picture, but not current valuations."
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Re: Anhui Conch Cement 0914

Postby winston » Tue Mar 31, 2009 3:13 pm

Anhui Conch Cement (0914.HK) fell 4.6 percent to HK$42.50 after it said late on Monday it would increase capital expenditure to 8 billion yuan ($1.17 billion) in 2009 from 5.1 billion yuan in 2008 to boost construction of cement and clinker production lines.
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Re: Anhui Conch Cement 0914

Postby winston » Mon Apr 06, 2009 4:51 pm

Anhui Conch sees Q1 profit steady; volume sales up

HONG KONG, April 6 (Reuters) - Top Chinese cement maker Anhui Conch Cement (0914.HK) sold 15 percent more cement in volume terms in the first quarter of 2009 despite concerns over possible oversupply of the material, a senior executive said.

But its profit in the first quarter is expected to remain steady from the same period last year, executive director Guo Jingbin said on Monday.

The company (600585.SS), which posted a 5 percent rise in 2008 profit to 2.6 billion yuan ($380.4 million), said last week it planned to issue up to 9.5 billion yuan worth of corporate bonds in China, raising capital to repay loans and improve its financial structure.
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Re: Anhui Conch Cement 0914

Postby winston » Mon Apr 06, 2009 4:55 pm

Anhui Conch executive quits amid securities probe

HONG KONG, April 3 (Reuters) - Top Chinese cement maker Anhui Conch Cement (0914.HK) (600585.SS) said one of its senior executives was being investigated for dealings in the company's shares "which were alleged to be in breach of relevant rules".

Wang Jianchao resigned as deputy general manager on Friday, Anhui Conch said in a statement released through the Hong Kong stock exchange.

The statement contained no other details, except that the company would make further announcements when appropriate.

The company said earlier on Friday it planned to issue up to 9.5 billion yuan ($1.4 billion) worth of corporate bonds in China, raising capital to repay loans and improve its financial structure. [ID:nHKG36418]

It posted earlier this week a 5 percent rise in 2008 profit to 2.6 billion yuan. [ID:nHKG168750]
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