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Hong Kong stock concept tracking | Notices from multiple places including hunan and shaanxi indicate an increase in cement prices. The cement industry is experiencing positive changes in the fourth quarter (attached concept stocks).
In October, demand continues to recover, cement prices are rising. The main reasons for the price increase are driven by profit pressure and better implementation of off-peak production in the industry, leading to an improved supply and demand situation.
HSBC Research downgrades the target price of Conch Cement (00914.HK) to 27.4 yuan, while raises the target price of CR Bldg Mat Tec (01313.HK) to 2.4 yuan.
HSBC research report indicates that mainland cement prices continue to rise due to supply-side control and seasonal demand improvement, while new production capacity replacement regulations set stricter limits on excess production, helping accelerate industry consolidation. The bank expects that under continued supply control, profits will improve, preferring conch cement (00914.HK) h shares and cr bldg mat tec (01313.HK). HSBC research predicts that demand will continue to decline; however, there have been positive and sustainable changes on the supply side, mainly due to industry participants willing to cooperate to maintain reasonable gross margins. This will be for the fourth quarter of 2024 and 2025.
Guolian Securities: Cement "off-season not light" in 24Q3, price center may continue to rise
In the third quarter of 2024, in most regions, the staggered increase in cement intensity continues to increase, with the industry's supply and demand situation gradually improving. Cement prices continue to rise slightly, showing a certain "off-season not light" characteristic. Both industry profits on a month-on-month and year-on-year basis have improved.
Building materials cement stocks are weak. Conch Cement (00914) fell by 3.34%. In late October, the national cement market demand slightly weakened compared to the previous month.
Kingwu Financial News | Building materials cement stocks were weak, with Conch Cement (00914) falling by 3.34%, Huaxin Cement (06655) falling by 2.39%, Westchinacement (02233) falling by 1.6%, Asia Cement (China) (00743) falling by 1.26%, CNBM (03323) falling by 0.6%. GTJA stated that in late October, the national cement market demand slightly weakened compared to the previous month, mainly due to the northern regions entering the off-season one after another, about to start the winter staggered production cycle; demand in the southern regions remained stable in order to improve profits during the final demand period, continuing to drive prices up.
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Huishang Bank's revenue in the first 9 months was 29.655 billion yuan, a year-on-year increase of 2.66%; Asia Cement's revenue in the first 9 months was 4.119 billion yuan, a year-on-year decrease of 27.94%, resulting in a loss of 0.459 billion yuan.
Asia Cement (China) (00743) switched from a year-on-year profit to a loss of 0.459 billion yuan in the first three quarters of the year.
King's Finance News | Asia Cement (China) (00743) announced its performance for the nine months ended September 30, 2024. During the period, the company's net loss attributable to owners amounted to 0.459 billion yuan (RMB, the same below), reversing from a profit to a loss year-on-year; basic loss per share was 0.293 yuan. The group's revenue was 4.119 billion yuan during the period, a decrease of 27.94% year-on-year.
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