Cement Operations
Since 2006, Prosperity was a major cement manufacturer and, on 30 April 2010, sold the majority of its cement interests in the PRC for a consideration of HK$ 3.8 billion (some $487 million) in cash.
Anhui Chaodong Cement Company Limited ("ACC")
Background
Prosperity holds a 33.06% interest in ACC.
ACC is listed on the Shanghai Stock Exchange under the listing code 600318 and, as at 24 June 2011, its closing share price was RMB 20.24 at which ACC’s market capitalisation was RMB 4.9 billion (approximately US$ 745.3 million), valuing Prosperity’s shareholding at approximately US$ 246.4 million.
Capacity
The second 2 million tonnes per annum clinker production line commenced normal production in January 2011, bringing the total designed saleable output of cement and clinker to 5.1 million tonnes per annum.
Performance
For the fiscal year ended 31 March 2011, ACC reported an attributable profit of US$ 2.2 million.
The first new clinker production line at ACC
TCC Liaoyang Cement Cement Company Limited ("TCC Liaoyang"), formerly Liaoning Changqing Cement Co. Limited
Background
TCC Liaoyang is a new cement and clinker facility located near Dengta City, Liaoning Province, northern PRC. Prosperity sold its 75% interest in TCC Liaoyang to TCC International Holdings Limited as part of the disposal of the majority of its cement assets in a transaction completed on 30 April 2010. On 1 September 2010, Prosperity completed the purchase of the 25% interest in TCC Liaoyang previously held by its former partner in the project. Following a share issuance, Prosperity's interest was diluted to 16.11%. At the same time, the name was changed from Liaoning Changqing Cement Co. Limited to TCC Liaoyang Cement Company Limited.
Capacity
TCC Liaoyang completed construction of a new 2 million tonnes per annum cement and clinker production line in April 2010 and normal production commenced on 2 July 2010.
Performance
From 1 September 2010 to 31 December 2010, TCC Liaoyang reported an attributable loss of $0.07 million.
The Cement Manufacturing Process
The Residual Heat Electricity Generation System (RHE)
