Shangfeng Cement intends to increase the capital of its wholly-owned subsidiary by 400 million yuan.

2024-09-14 14:18:38

In order to further improve and optimize the financial structure of Ningbo Shangrong Logistics Co., Ltd. and promote sustainable development, the capital source of this capital increase is the company's own funds, which will not adversely affect the company's financial and operating conditions, and will not damage the interests of the company and its shareholders.

Shangfeng Cement announced in the evening of September 13 that the company intends to increase its capital by 400 million yuan to Shangrong Logistics, a wholly-owned subsidiary, with its own capital. The registered capital of Shangrong Logistics will be increased from 30 million yuan to 430 million yuan.

In order to further improve and optimize the financial structure of Ningbo Shangrong Logistics Co., Ltd. and promote sustainable development, the capital source of this capital increase is the company's own funds, which will not adversely affect the company's financial and operating conditions, and will not damage the interests of the company and its shareholders.

All can be viewed after purchase
Correlation

In order to further improve and optimize the financial structure of Ningbo Shangrong Logistics Co., Ltd. and promote sustainable development, the capital source of this capital increase is the company's own funds, which will not adversely affect the company's financial and operating conditions, and will not damage the interests of the company and its shareholders.

2024-09-14 14:18:38

As a result of the war, Ukraine's cement industry has fallen from its peak and is looking for exports to survive. In 2021, the output was 11 million tons, which dropped sharply to 5.4 million tons in 2022, and then slowly climbed to 8 million tons in 2025, but there is still a gap. The structure of demand has changed, infrastructure and defense projects have become big buyers in the short term, and domestic consumption has shown signs of weakness. Excess capacity is balanced by exports, and the proportion of export volume will rise to 21% in 2024. With the increase of market concentration and the monopoly of production capacity by several large kilns, CRH is expected to bring capital and enhance competitiveness to the industry if the acquisition is successful.