West China Cement

What West China Cement does

West China Cement Limited (HKEX: 2233) is a publicly listed cement manufacturer and distributor founded in 1991 and headquartered in Changan, China. The company produces and sells cement under two proprietary trademarks, Yao Bai (尧柏) and Yaobaishuini (尧柏水泥), serving primarily infrastructure projects (highways, bridges, railways, roads) and residential building construction across North Western China. Its customer base is distributed across the regional construction value chain, with no publicly disclosed named anchor customers, and the business model is a traditional B2B commodity producer-distributor structure in which revenue scales with regional cement volumes and pricing.

The company's core technology is conventional cement manufacturing and distribution; the product portfolio is a single commodity category sold under two regional brands. Distribution is executed through an established North Western China logistics network, where high cement transport costs provide structural protection from outside competition. In 2026, West China Cement materially broadened its footprint through the R2.5 billion acquisition of South African cement competitor AfriSam Holdings Proprietary Limited, subject to Competition Commission conditions including a three-year retrenchment moratorium and local production capacity requirements, adding South Africa and Mozambique to its served geographies.

The revenue model is straightforward unit-volume × price cement sales into construction end-markets, supplemented by debt capital markets activity in 2026 (a US$300M 10.500% Senior Notes due 2029 issuance with concurrent tender for the 4.95% 2026 Notes). FY2025 reported revenue implies a $1B–$5B scale band after adjusting for the apparent unit-scaling issue in the source dataset, with a FY2025 Positive Profit Alert signaling year-over-year earnings recovery versus a 2024 trough. The concurrent announcement of a potential asset disposal indicates active portfolio reshaping alongside the African expansion. The company files monthly securities movement returns and annual ESG reports to the Hong Kong Stock Exchange.

Name

West China Cement

Legal name

West China Cement Limited

Website

https://westchinacement.com

Company type

Public

Founded year

1991

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

West China Cement (HKEX: 2233) is a Chinese cement manufacturer and distributor founded in 1991, producing cement under the Yao Bai (尧柏) and Yaobaishuini (尧柏水泥) brands primarily for infrastructure and residential construction in North Western China, with a 2026 expansion into South Africa via the AfriSam acquisition.

Ownership category

akta.pro rank

Product category

Cement Manufacturing

NAICS

Cement Manufacturing (327310)

SIC

Cement, Hydraulic (3241)

akta.pro primary industry

Cement Manufacturing (Portland, Blended & Specialty) (IMADAAAG)

akta.pro secondary industries

Cementitious Binders & Additives (Fly Ash, Slag, Silica Fume, Lime) (IMADAAAH), Mortar, Grout & Masonry Cements (IMADABAL)

Keywords

• Cement manufacturing
• Cement distribution
• Construction materials
• Infrastructure cement
• Building materials

Headquarters

HQ city

Changan

HQ country

China

HQ region

Asia

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Infrastructure, Personnel, Others

Core offering

West China Cement manufactures and distributes cement sold under the Yao Bai (尧柏) and Yaobaishuini (尧柏水泥) trademarks, primarily serving large-scale infrastructure construction (highways, bridges, railways, roads) and residential building projects in North Western China. Following its 2026 acquisition of South African peer AfriSam Holdings Proprietary Limited, the company has extended its cement manufacturing and distribution footprint into South Africa and Mozambique.

Product overview

West China Cement Limited (WCC) is a leading cement manufacturer and distributor in North Western China. The company operates as a single unified product business, producing and selling cement under its proprietary brands Yao Bai (尧柏) and Yaobaishuini (尧柏水泥). The cement products are primarily used in the construction of infrastructure projects such as highways, bridges, railways, and roads, as well as residential buildings.

Differentiator

Problem solved

Functional benefit

Brands

• 尧柏 (Yao Bai): Cement brand trademark
• 尧柏水泥 (Yaobaishuini)

Products and services

• Yao Bai (尧柏) cement Cement sold in North Western China under the Yao Bai (尧柏) trademark, primarily used in infrastructure projects (highways, bridges, railways, roads) and residential building construction.
• Yaobaishuini (尧柏水泥) cement Cement sold in North Western China under the Yaobaishuini (尧柏水泥) trademark, primarily used in the construction of highways, bridges, railways, roads and residential buildings.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• AfriSam Holdings Proprietary LimitedcoreStrategic or Co-development Partner · 2 April 2026West China Cement acquired AfriSam Holdings Proprietary Limited for R2.5bn (approximately 2.5 billion South African Rand). The acquisition was approved by the South African Competition Commission subject to conditions including a three-year moratorium on retrenchments and requirements to maintain AfriSam's local production capacity. This represents a significant geographic expansion into the African market.

Scale indicators1 record

Recent moves6 records

Expansion highlights4 records

Direct peers

• Anhui Conch Cement: Largest cement producer in China, listed in Hong Kong and Shanghai, with overlapping exposure to infrastructure and residential cement demand and a similar portland/blended cement product portfolio.
• China National Building Material (CNBM): State-affiliated cement and building materials giant operating across mainland China; directly comparable in scale, cement product range, and infrastructure-project end markets.
• PPC Ltd: Leading South African and African cement producer; comparable cement product range and end-market exposure, and now a fellow South African market participant alongside WCC's AfriSam subsidiary.
• Huaxin Cement: Chinese cement producer with central China footprint and growing overseas (Central Asia, Africa) operations; closely comparable given its dual China-domestic and international expansion strategy.
• Tangshan Jidong Cement: Major northern Chinese cement manufacturer with overlapping regional exposure to North China infrastructure cycles and similar cement-only product focus.
• BBMG Corporation: Beijing-based integrated cement and building materials producer serving northern Chinese infrastructure projects; comparable in product mix and end-market exposure.
• AfriSam Holdings: South African cement, aggregate, and readymix producer now wholly owned by WCC; directly comparable in cement manufacturing and South African infrastructure end markets.

Broad incumbents

• Holcim: Global cement and aggregates major with strong presence in emerging markets; provides a benchmark for international cement majors pursuing portfolio optimization and decarbonization.
• Heidelberg Materials: Global building materials heavyweight with vertically integrated cement, aggregates, and readymix operations; comparable for international capital-markets access and large-scale cement manufacturing economics.

Emerging players

• Dangote Cement: Africa's largest cement producer with pan-African footprint; comparable as a cement-led operator expanding into multiple African markets, though with much larger scale and broader geographic reach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/west-china-cement-limited-

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about West China Cement