Jidong Cement’s Q1 loss

In January-March 2016, China-based Jidong Cement reported a 34.28% year-on-year reduction in net profit with a loss of CNY 805 million (€110.27 million/US$123.87 million).
April 29, 2016 Read time: 1 min

In January-March 2016, China-based Jidong Cement reported a 34.28% year-on-year reduction in net profit with a loss of CNY 805 million (€110.27 million/US$123.87 million).

Its revenue during the period also declined by 4.58% to CNY 1.44 billion.

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China’s Jidong Cement to inject CNY 1.09 billion into subsidiary

Chinese cement and clinker maker and seller Tangshan Jidong Cement is tol inject CNY 1.09 billion (€159.77 million/US$175.56 million) into its wholly-owned subsidiary Tongchuan Company.

The newly-obtained capital will be spent by China-based Tongchuan Company on loans repayment.

Tongchuan Company generated a loss of CNY 179 million in net profit attributable to shareholders during January-June 2015. It generated a loss of CNY 188 million in net profit in 2014.

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