Shanghai Electric Group and Conch Cement deepen cooperation in green hydrogen energy sector.
Shanghai Electric Group and Anhui Conch Group have announced the strengthening of multi-sector cooperation, with the chairmen of both sides holding talks and reaching a consensus. The areas of cooperation include energy equipment, automation production lines, green hydrogen energy, and digital applications, with expectations to continue expanding the cooperation based on a long-term good foundation of collaboration.
Express News | Shanghai Electric Group and China Resources Group plan to collaborate in multiple sectors.
Express News | Goldman Sachs: Raises target price for Conch Cement to HK$16, maintains 'Neutral' rating.
ANHUI CONCH CEMENT(914.HK):NOT ATTRACTIVE ENOUGH THOUGH WE EXPECT BETTER EARNINGS FOR 2H
Goldman Sachs raises target price for Conch Cement (00914.HK) to HKD 16, outperforming expectations for mid-term performance.
Goldman Sachs released a report stating that Conch Cement (00914.HK) had a 42% year-on-year decline in recurring profits after excluding one-off items in the first half of the year, reaching 3.85 billion Chinese yuan, which exceeded the bank's expectations. The bank has raised its profit forecast for the company from 2024 to 2026 by 5% to 11% to reflect the rebound in cement unit gross profit, offsetting the impact of declining cement and clinker sales volume. Goldman Sachs mentioned that due to the continued decrease in market demand leading to a decrease in shipments, there will be significant improvement in unit profit and overall profit recovery, and it is expected that Conch Cement's unit gross profit will be maintained at the lower limit of the historical range, but will be higher than its main peers.
Anhui Conch Cement Company Limited Beat Analyst Estimates: See What The Consensus Is Forecasting For This Year
Conch Cement (600585): Profit is still relatively low, looking forward to industry supply-side efforts.
The company achieved a net income attributable to the parent company of 3.33 billion yuan in the first half of the year, a year-on-year decrease of 48.56%. The company released its 24th interim report, achieving revenue/net income attributable to the parent company of 45.57/3.33 billion yuan in the first half of the year, a year-on-year decrease of 30.44%/-48.
Conch Cement (600585): Leading performance is better than the industry, widening the profit gap.
The company released its 2024 interim report: 2024H1 achieved operating revenue of 45.566 billion yuan, a year-on-year decrease of 30.37%. Net profit attributable to shareholders was 3.326 billion yuan, a year-on-year decrease of 48.59%. Non-recurring net profit attributable to shareholders was 31.85
Conch Cement (600585): Performance meets expectations, with configuration value supported by DCF valuation.
Event: The company released its 2024 interim report, achieving revenue of 45.566 billion yuan, a year-on-year decrease of 30.44%, and net income attributable to parent company of 3.326 billion yuan, a year-on-year decrease of 48.56%; among which Q2 achieved revenue of 242.3
Express News | Tianfeng Securities: In the long term, there may be two types of conditions for the excess reversal of high dividends.
Conch Cement (600585): Resilient operation shows increasing contributions from non-cement and overseas.
Investment highlights: The company released its 2024 interim report, achieving revenue of 45.566 billion yuan, a year-on-year decrease of 30.4%, and net income attributable to shareholders of 3.326 billion yuan, a year-on-year decrease of 48.6%. Among them, Q2 achieved revenue of 2
Conch Cement (600585): Demand weakness puts pressure on performance, waiting for the economic recovery.
Event: The company's revenue in H1 2024 was 45.566 billion yuan, a decrease of 30.44%; net income attributable to the parent company was 3.326 billion yuan, a decrease of 48.56%; and net income attributable to the parent company after deducting non-recurring items was 3.185 billion yuan, a decrease of 48.25%.
Hang Seng Index fell by 182 points, Meituan's performance was under pressure, nongfu spring dropped by ten percent.
The market continues to watch the US PCE inflation data and Nvidia (NVDA.US) quarterly earnings. The Hong Kong stock market fell, with the Hang Seng Index opening 26 points lower. It rose 4 points in the early stage and reached a high of 17,879 points before falling again. In the afternoon, it fell 215 points, reaching a low of 17,659 points. It closed the day down 182 points or 1.1% at 17,692 points. The H-share index fell 80 points or 1.3% to 6,225 points. The Hang Seng Tech Index fell 55 points or 1.6% to 3,445 points. The total trading volume of the market for the day was 93.93 billion yuan. Several blue-chip companies announced their performance. Anta Sports (02020.HK) earned a net profit increase of 63% in the first half.
Feng Liuxin has recently joined two companies, and the latest news from Yang Dong, a conscientious fund manager in the industry, has arrived.
The disclosure of the mid-year report of listed companies is gradually coming to an end, and the positions of private institutions with a hundred billion yuan are emerging. Feng Liu has newly entered two companies. Gao Yi Linshan No.1 Yuanwang Fund has newly entered the top ten circulating shareholders of Conch Cement. It holds 17.5 million shares, with a market value of 0.413 billion yuan at the end of the period. It has newly entered Chenguang Biotech, a natural extract production supplier, with a holding of 7.5 million shares and a market value of 0.063 billion yuan at the end of the period. Previously disclosed data showed that Feng Liu increased his holdings of Hikvision, Shengyi Technology, Angel Yeast, and Xinxiang Richful lube additive in the second quarter of this year. He reduced his holdings of Ningxia Baofeng Energy Group and Beijing Shunxin Agriculture. The holdings of LB Group Co., Ltd. and Jonjee Hi-Tech remained unchanged.
Hong Kong stocks fluctuate | Cement stocks generally decline, with the industry's performance under pressure in the first half of the year and the downward pressure on cement demand still existing.
Cement stocks are generally declining. As of press time, CNBM (03323) fell 6.67%, to HKD 2.24; Asia Cement (China) (00743) fell 5.86%, to HKD 2.09; Dongwu Cement (00695) fell 2.42%, to HKD 1.61.
UBS: Maintains a "neutral" rating on Conch Cement (00914) with a target price raised to HKD 17.7.
UBS Group downgraded its profit forecast for Conch Cement from this year to 2026 by 7% to 9%.
UBS Group: Raises target price of Conch Cement to HKD 17.7, maintains 'neutral' rating.
Gelonghui, August 28th | UBS Group stated that conch cement's second-quarter net profit dropped 53% year-on-year to 1.8 billion yuan according to Chinese accounting standards, falling short of the bank's expected 2 billion yuan. The mid-term net profit is 36% of the market's annual profit forecast, lower than the 63% and 62% of the previous and last year. The bank has lowered its profit forecast for conch cement from 2021 to 2026 by 7% to 9%, reflecting the downward forecast of cement prices. The target price has been raised from HK$17 to HK$17.7, representing a 0.45 times price-to-book ratio forecast for next year, maintaining a "neutral" rating. Regarding the company's self-produced cement and clinker business, based on second-quarter sales volume remaining roughly flat year-on-year, the bank expects conch cement
Anhui Conch Cement's H1 Attributable Profit Declines 48% on Lower Revenue; Hong Kong Shares Slide 5%
UBS Group raised the target price of Conch Cement (00914.HK) to 17.7 yuan, next quarter's performance fell short of expectations.
UBS Group stated that Anhui Conch Cement (00914.HK) second-quarter net profit under Chinese accounting standards fell by 53% to 1.8 billion yuan, lower than the bank's expected 2 billion yuan. Mid-term net profit is 36% lower than the market's full-year profit forecast, and lower than the 63% and 62% of the previous and last year. The bank lowered its profit forecast for Conch Cement from 7% to 9% for this year to 2026, reflecting a downward revision in cement price forecasts, with the target price revised from 17 yuan to 17.7 yuan, representing a forecast P/B ratio of 0.45 for next year, and maintaining a "neutral" rating. As for the company's self-produced cement and clinker business, second-quarter sales volume is roughly flat year-on-year.
UBS Group raised the target price of Conch Cement (00914.HK) to 17.7 yuan, second-quarter performance below expectations.
UBS Group raised the target price of Conch Cement (00914.HK) to 17.7 yuan, second-quarter performance below expectations.
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