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[Brokerage Focus] CITIC SEC indicates that the domestic Business in the Cement Industry is under pressure, while the overseas Business has become a key support for performance growth.
Jinwu Financial News | CITIC SEC stated that according to Cement Network, in 2024, China's cement production capacity will reach approximately 2.561 billion tons, while the output will only be 1.825 billion tons, marking a new low since 2010, with a capacity utilization rate of only 71.24%. The bank indicated that the domestic Cement Industry is facing the challenge of weak downstream demand, with increasingly fierce market competition and corresponding continuous decline in cement prices. Many cement enterprises are focusing their attention overseas, with Southeast Asia and Africa being popular destinations for these companies. The demand in Africa has significant growth potential, and the number of participants is relatively small, as well as higher global cement prices; Southeast Asia is the largest sea.
CITIC SEC: It is the right time for Cement to go global, and domestic companies are expected to increase market share due to strong cost advantages.
CITIC SEC released a Research Report stating that the domestic Cement Industry is facing challenges from weak downstream demand, with market competition becoming increasingly intense, and Cement prices continuously declining.
An Intrinsic Calculation For Anhui Conch Cement Company Limited (HKG:914) Suggests It's 25% Undervalued
Citigroup: Demand for Thermal Coal is nearing its peak, and it is expected that coal prices will decline in the next two years.
If there are no supply constraints, spot coal prices could drop to the level of long-term benchmark contract prices.
Hong Kong stocks movement | Cement stocks have widened their gains in the afternoon as cement companies in some regions have notified price increases. Capacity restriction policies are officially entering the implementation phase.
The cement stocks' gains expanded in the afternoon. As of the time of this report, CONCH CEMENT (00914) rose by 5.07%, selling at HKD 20.95; Huaxin Cement (06655) increased by 4.39%, priced at HKD 7.83; CR BLDG MAT TEC (01313) was up by 3.87%, at HKD 1.61; and WESTCHINACEMENT (02233) gained 3.05%, trading at HKD 1.69.
Hong Kong stock Concept tracking | Cement prices are being notified to increase in multiple regions, and the undervalued building materials Sector is expected to see a profit recovery (including Concept stocks).
After the Lantern Festival, with the rise in temperature and the gradual resumption of construction sites, some cement companies in certain regions have announced a price increase.
