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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.
After Leaping 26% West China Cement Limited (HKG:2233) Shares Are Not Flying Under The Radar
Hong Kong stocks fluctuate | Cement stocks lead in gains, policies are expected to boost the growth rate of Infrastructure investment, and the Industry's outdated production capacity may accelerate its elimination.
Cement stocks are leading in gains. As of the time of writing, CNBM (03323) is up 6.77%, at 4.26 HKD; CR BLDG MAT TEC (01313) is up 4.58%, at 1.6 HKD; CONCH CEMENT (00914) is up 3.98%, at 22.2 HKD; WESTCHINACEMENT (02233) is up 2.96%, at 1.74 HKD.
West China Cement (HKG:2233) Investors Are up 8.6% in the Past Week, but Earnings Have Declined Over the Last Year
CICC's outlook for the construction Industry in 2025: Seeking stability and progress.
Focus on the centrally-owned construction enterprises with relatively stable fundamentals, which benefit from the new regulations on debt reduction and Market Cap management.
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