Sinoma International announced that recently, Sinoma Cement completed the registration procedures for the change of market supervision for further capital increase, and obtained the Business License renewed by the Market Supervision and Administration Bureau of Xicheng District, Beijing. With the approval of Beijing Xicheng District Market Supervision and Administration Bureau, the registered capital of Sinoma Cement was changed from 3.089 billion yuan to 10 billion yuan , and the shareholders subscribed the new registered capital according to the shareholding ratio. The company held 40% of the shares, corresponding to the subscription of the new registered capital of 2.764 billion yuan.
It is understood that on December 5, 2023, Tianshan announced that it would accelerate the pace of international development and jointly increase the capital of Sinoma Cement Co., Ltd. in cash with Sinoma International. After the completion of the
capital increase, the registered capital of Sinoma Cement will increase to 10 billion yuan, and Sinoma International and Tianshan Stock will hold 40% and 60% of Sinoma Cement respectively.
Tianshan shares said in the announcement that Sinoma Cement is the company's international business platform, and will carry out overseas investment in basic building materials under the principle of "competitive advantage, regional leadership and risk control" in accordance with the company's internationa l development strategy ; The introduction of Sinoma International as a shareholder can give full play to its advantages in international experience, localized operation, international talents, market frontier information, and comprehensive services such as engineering, transformation, operation and maintenance, spare parts and logistics, so as to better expand and develop projects.
The announcement shows that Sinoma Cement was established in 2003, its main business is cement and aggregate business, and its main assets are overseas subsidiaries. As of December 2023, Sinoma Cement has invested in three basic building materials production and operation projects abroad: the first is the Zambian Industrial Park Project invested in Zambia through the two-tier investment platform; the second is the Mengxin Cement Production Line Project invested in Mongolia through the Wulanchabu Investment Platform in Inner Mongolia; The third is the aggregate production line project directly invested by Sinoma Cement in Nigeria.
At present, the degree of overcapacity in China is further aggravated, and cement enterprises are actively transforming to find new ways out. In the long run, the urbanization rate, infrastructure and economic development level of some overseas countries and regions have great room for improvement, and the market demand potential is still relatively large. Under the support of the "one belt and one way" initiative, Chinese enterprises are still facing great opportunities to go out.
For the later development, China Building Materials, Conch Cement, Huaxin Cement and other large enterprises have expressed that they should continue to expand the international market and expand the global visibility and influence of Chinese cement enterprises.
Conch cement said that the next step will continue to help promote the high quality development of "one belt and one road", take effective investment as the orientation, take the cement industry and the industrial chain as the long-term industrial investment orientation, and focus on the countries and regions along the "one belt and one road", expand the breadth of investment projects in an orderly manner, improve the market layout, and promote it. Improve market competitiveness , steadily expand the depth of investment industry, strengthen cost control, and optimize the profit model. Li Yeqing, president
of Huaxin Cement, said that in the past 10 years, Huaxin has built or operated nearly 20 large cement plants and related industrial chain enterprises in 11 "one belt and one road" countries in Central Asia, Southeast Asia, South Asia, West Asia and Africa, with a total cement capacity of 20 million tons, and has achieved good social and economic benefits. In the future, Huaxin will take win-win cooperation as the cornerstone, continue to draw a bright picture of green and high-quality development in the "Belt and Road", and contribute to the benefit of the local people and the promotion of friendship among countries.
