BBMG

Date:09-22-2009 BBMG (HKG:2009) announced interim results for the 6 months ended 30 June 2009. Turnover was up 6.9% YOY to RMB5.1 billion. Net profit grew 63.8% YOY to RMB732 million. The earnings per share was RMB0.26. The management didn't declared a interim dividend

2009/09/01 17:03 (Infocast News) BBMG Corporation (02009) executive director and chief financial officer Wang Hongjun said today the company's current land reserve, totalling 3.88 million square metres, will be able to satisfy the company's development needs in the coming two to three years. During the first half of this year, the company invested more than RMB1 billion to add 1.26 million square metres of land. In the second half, it plans to pay RMB1.5-2.0 billion for land acquisition, he said. The company's existing land sites are mainly in Beijing, Hangzhou and Hohhot. The company intends to use RMB3.67 billion as capital expenditure in the second half of this year. The capital expenditure does not include the spending for land acquisition, he said.

2009/09/01 17:30 (Infocast News) Asked the impact of excess cement production capacity in China on BBMG Corporation (02009), the company's chairman, Jiang Weiping, said an excess in the country's total cement production capacity does not necessarily mean a regional excess. This, together with the RMB4 trillion economic stimulation package, the good development of the Beijing real-estate market and the development of the Bohai Rim, have created strong demand for cement in Beijing, he said. He expects the trend to last in the second half of this year. Beijing has a cement demand of 20 million tonnes while the production capacity is currently only 10 million, representing a 50% difference between supply and demand, executive director and president Jiang Deyi added. Jiang expects BBMG's cement production capacity to exceed 20 million tonnes by the end of this year and to exceed 30 million tonnes by the end of next year. Jiang also said the company had no plan for listing shares on the A-share market. http://www.finanznachrichten.de/nachrichten-aktien/bbmg-corporation.asp#14833750