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HK stocks unusual movement | Cement stocks lead the gains, East China Cement significantly raises prices, industry cooperation expected to support profits in the second half of the year.
Cement stocks led the gains, as of the time of publication, CNBM (03323) rose by 8.62% to HK$3.15; BBMG Corporation (02009) rose by 6.85% to HK$0.78; Conch Cement (00914) rose by 4.47% to HK$22.2; Huaxin Cement (06655) rose by 4.03% to HK$7.74.
China National Building Material Expects to Swing to Loss in January-September; Shares Up 8%
UBS Group: Raised target price of cnbm to 3.2 Hong Kong dollars, expecting quarterly profit improvement in the third quarter.
UBS Group issued a research report stating that based on CNBM (03323) issuing a profit warning, they adjusted their profit forecast for the company. The earnings per share forecast for each year from this year to 2026 are adjusted to 14 cents, 28 cents, and 39 cents respectively. The valuation basis is extended to 2025, calculated at a predicted P/B ratio of 0.23 times, and the target price is raised from 3.1 Hong Kong dollars to 3.2 Hong Kong dollars with a "Neutral" rating. Previously, CNBM issued a profit warning, expecting a loss of approximately 0.7 billion yuan in the first three quarters due to a drop in commodity prices. UBS Group estimates that the company's loss in the first half of the year is 2.018 billion yuan, turning to a profit of 1.318 billion yuan in the third quarter.
Zhitong Hong Kong stocks early to know | China Pacific Insurance (02601) is expected to increase net income by 60% to 70% year-on-year in the first three quarters, and Horizon Hong Kong IPO plans to issue 1.355 billion shares.
The State Council Information Office will hold a press conference on promoting the stable and healthy development of the real estate market.
cnbm issues profit warning, expecting a loss of approximately 0.7 billion yuan attributable to equity holders for the first three quarters, with a year-on-year loss from profit.
Cnbm (03323) announced that the group is expected to hold unaudited equity for the first three quarters of 2024...
Express News | China National Building Material - Expected Result Due to Decrease in Sales Prices of Cement, Commercial Concrete, Others
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