China: Qinling Cement's losses widen 113.88% in 2014

China-based Shaanxi Qinling Cement will push for a major asset restructuring in 2015, after it reported a second-year loss of CNY 250mn (€37.75 million/US$39.91 million) in 2014. The losses widened 113.88% from a year ago, due mainly to lower output and sales and reduced average selling price of cement and higher expenses. The company's revenue declined 15.46% to CNY 674 million. Qinling Cement has disclosed that it targets to produce and sell 3.85 million tonnes of cement in 2015.
March 17, 2015 Read time: 1 min

China-based Shaanxi Qinling Cement will push for a major asset restructuring in 2015, after it reported a second-year loss of CNY 250mn (€37.75 million/US$39.91 million) in 2014.

The losses widened 113.88% from a year ago, due mainly to lower output and sales and reduced average selling price of cement and higher expenses.

The company's revenue declined 15.46% to CNY 674 million.

Qinling Cement has disclosed that it targets to produce and sell 3.85 million tonnes of cement in 2015.

Quarry Products

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Asia Cement 's net loss of CNY 264mn, January-September 2015

Asia Cement (China) Holdings Corporation reported that the company turned from a net profit of CNY 531 million (€76.36 million/US$84.07 million) during January-to-September 2014 to a net loss attributable to shareholders of CNY 264 million (€37.97 million/US$41.80 million) in the same period of 2015.

Net loss per share stood at CNY 0.168.

The loss resulted from the Renminbi devaluation and a decrease in the selling price of the company's products.

Gross profit was down by to CNY 611 million. Reven

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