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研报掘金丨中金:华新水泥拟收购尼日利亚千万吨产能,打造西非桥头堡

Research reports | Zhongjin: Huaxin Cement intends to acquire tens of millions of tons of production capacity in Nigeria, building a bridgehead in West Africa.

Gelonghui Finance ·  Dec 2 17:02

China International Capital Corporation research reports pointed out that Huaxin Cement (600801.SH) plans to acquire a cement capacity of tens of millions of tons in Nigeria, establishing a stronghold in West Africa. The impact of the significant depreciation of the Nigerian Naira in 2024 is relatively limited. The target company's asset-liability ratio at the end of 3Q24 is 43%, also at a relatively stable level. The company has been deeply cultivating five African countries (Tanzania, Zambia, Malawi, South Africa, Mozambique) for many years. On November 29, Mozambique Cement Company's 3,000-ton clinker daily production line was ignited for trial production. This time, it has once again taken over high-quality assets from the major shareholder at a fair price to create the first stronghold in West Africa. It is believed that the company has currently established a global strategy focusing on mergers and acquisitions for overseas development, striving to maximize its management and technological advantages, and to maximize control over the local market supply and demand situation, maintaining the competitiveness and profitability of local factories. The overall performance of overseas business is still expected to rise significantly.

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