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Citic sec consumer building materials 2025 investment strategy: Profit margin and valuation level usher in mean reversion.
With the policy of "promoting the stabilization of the real estate market" as the core goal, achieving this goal is of great significance for the valuation repair of the consumer building materials sector.
HK stocks surged, with cement stocks leading the gains. Cement prices in October continued to rise compared to previous month, institutions said there is still a significant room for recovery in cement PB ratio.
Cement stocks rose at the front, as of the deadline, CNBM (03323) rose by 7.96%, closing at 3.39 Hong Kong dollars; BBMG Corporation (02009) rose by 6.33%, closing at 0.84 Hong Kong dollars; Conch Cement (00914) rose by 5.35%, closing at 21.65 Hong Kong dollars; huaxin cement (06655) rose by 3.31%, closing at 7.8 Hong Kong dollars; westchinacement (02233) rose by 3.13%, closing at 1.32 Hong Kong dollars.
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.
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.
Shenyin Wanguo: Profit decline narrows in the building materials industry in Q3 2024, significant improvement in profit for the cement sector.
In the third quarter, the building materials industry achieved revenue of 175.45 billion yuan, (yoy-9.0%, qoq-8.3%), net income attributable to the parent company was 6.45 billion yuan (yoy-32.0%, qoq-17.0%), gross margin in the third quarter was 18.2% (yoy-0.9pct, qoq-0.3pct), net margin was 4.09% (yoy-0.9pct, qoq-0.03pct).
Hong Kong stock abnormal | Cement stocks rose today, with new revised capacity replacement implementation methods accelerating capacity clearance and stabilizing demand-side growth efforts.
Cement stocks rose across the board today. As of the time of publication, CNBM (03323) rose by 6.05% to HK$3.68; cr bldg mat tec (01313) rose by 5.39% to HK$2.15; westchinacement (02233) rose by 3.42% to HK$1.21; huaxin cement (06655) rose by 2.96% to HK$8.7.
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