Qilianshan Q1 net profit up 54.6%

On April 20, Gansu Qilianshan Cement Group Co., Ltd. announced the seasonal report of 2010 Q1. During the reporting period, the company achieved a net profit of RMB 73.03 million, representing an increase of 54.58 % as compared with that in 2009.

By the end of the reporting period, the total asset of Qilianshan increased RMB 784.03 million as compared with that of the beginning of the year. It is mainly benefited from the increase of long-term and short-term loan, purchasing shares of Lanshi Zhongzhuang in order to increase the Long-term equity investments, and developing new projects.

At the beginning of March 2010, Cheng County Hegangu 3000 t/d cement production line project invested by Qilianshan completed the construction and put into operation. The cement products were put on the market, marking that the cement output of Qilianshan has been achieved over 10 million-tonnes level. The company has formed a M&A team in order to speed up the reorganization of regional market, which is able to further enhance its leading position in Gansu, Qinghai and Tibet and also strengthen Sinoma s control of cement market in the Northwest region.