Italcementi Group, an Italian-listed cement company, has faith in West China Cement despite a US short-seller's report alleging fraud at the mainland cement producer, said Ma Weiping, Italcementi's chief representative in West China Cement.Wednesday, 24 October, 2012, 4:01am
West China Cement expects better profits and revenue in the second half, after a dismal first half.
The cement producer's net profit plunged 64.6 per cent to 148.5 million yuan (HK$181.6 million) in the first half, while revenue dropped 7.2 per cent to 1.59 billion yuan. Net profit was 15 per cent below consensus forecasts, according to a CIMB report by Kevin You and Jeannette Sim.17 Aug 2012 - 2:36am
Zhang Jimin, chairman of West China Cement, is caught in a war of words with US short seller Glaucus Research Group that threatens to upset the Chinese company's deal with Italy-listed firm Italcementi Group.15 Aug 2012 - 11:29pm
West China Cement's stock went on a roller-coaster ride yesterday, after the mainland cement producer denied allegations of fraud by US short seller Glaucus Research Group.15 Aug 2012 - 11:20pm
Shares in mainland cement maker West China Cement were suspended from trading at the company's request yesterday, following the release of an analyst's report alleging the company was guilty of 'blatant fraud'.15 Aug 2012 - 11:15pm