SHANGFENG CEMENT(SZ:000672) Sou Hu Cai Jing·2025-05-12 19:15Group 1 - The stock price of Shangfeng Cement (000672) closed at 8.49 yuan on May 12, 2025, down 0.82% with a turnover rate of 1.4% and a trading volume of 136,200 shares, amounting to a total transaction value of 115 million yuan [1][2]. - On May 12, the capital flow for Shangfeng Cement showed a net outflow of 5.42 million yuan from main funds, accounting for 4.71% of the total transaction value, while retail investors had a net inflow of 4.21 million yuan, representing 3.65% of the total [2][4]. - The company announced a joint venture with ZETH International to construct a cement clinker production line in Kyrgyzstan, with a registered capital of 200 million yuan, where Shangfeng will contribute 58% and ZETH 42%, with an estimated investment of approximately 120 million USD [2][4]. Group 2 - The construction project has faced delays since its initiation in 2015 due to changes in the Kyrgyz government and complex approval processes, and it has not yet commenced operations [2][4]. - As of December 31, 2024, the total assets of the Shangfeng-ZETH joint venture were approximately 179.5 million yuan, with negative equity of about 54 million yuan, revenue of 284,807 yuan, and a net loss of approximately 5.47 million yuan [2][4]. - The project is subject to various risks, including legal environment risks, completion of compliance procedures, extended construction timelines, and disputes among shareholders [2][4].