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Express News | Tianfeng: The supply-side reform of the Cement industry is gradually entering the second phase, and industry profits are expected to emerge from a relatively low point.
Express News | Gansu Shangfeng Cement and others have established a new company in Ningbo with a registered capital of 20 million yuan.
Shangfeng Cement: Report for the third quarter of 2024
Gansu Shangfeng Cement Injects Capital Into Unit
Gansu Shangfeng Cement (000672.SZ): intends to increase capital to Shangrong Logistics by 0.4 billion yuan.
Gansu Shangfeng Cement (000672.SZ) announced on September 13 that, in order to improve the financial structure of Ningbo Shangrong Logistics Co., Ltd. (hereinafter referred to as "Shangrong Logistics") and promote its sustainable development, Gansu Shangfeng Cement Co., Ltd. plans to increase the capital of Shangrong Logistics, a wholly-owned subsidiary, by 0.4 billion yuan using its own funds. After this capital increase, the registered capital of Shangrong Logistics will increase from 30 million yuan to 430 million yuan.
Gansu Shangfeng Cement (000672): Main business reduces costs and stabilizes foundation, while two wings develop steadily.
1H24 performance meets the forecast, 2Q24 profit improvement compared to the previous quarter is significant. gansu shangfeng cement achieved a net income attributable to the parent company of 0.171 billion yuan in 1H24, representing a 67.9% year-on-year decrease, in line with the performance forecast (July 9 performance forecast).