Sinoma targets over RMB 150-billion revenue for 2015

Byswb

Updated Fri, 24 Dec 2010 00:00:00 GMT

China National Materials Group Corp Ltd or Sinoma Group, the parent firm of China National Material Co Ltd<1893>, aims to earn more than RMB 150 billion in operating revenue in 2015, according to a plan on Dec. 21 unveiled by Sinoma Group.

In 2015, Sinoma Group's gross profits are expected to exceed RMB 15 billion, and it hopes to have over RMB 150 billion in total assets at the end of the same year.

The state-owned group also hopes to have a 22% year-on-year growth in total assets as of Dec. 31, 2010, 42% growth in operating revenue and 43% growth in gross profits this year.

At present, Sinoma Group, which has an annual output capacity of 70.5 million tons of cement and 9 million cubic meters of concrete, aims to add a cement capacity of 28.5 million tons in 2010. In the same year, the company's accumulated power output will reach 220 gigawatt hours, which will reduce coal consumption by 80,000 tons and carbon dioxide emission by 200,000 tons.