Anhui Conch Cement 0914

Re: Anhui Conch Cement 0914

Postby winston » Fri Jun 06, 2014 2:43 pm

<Research Report>ANHUI CONCH (00914.HK) rated Buy, target lifted to $40 - BofAML
Apr 4, 2014

In the latest research report, BofA Merrill Lynch projected ANHUI CONCH (00914.HK) 1Q results may be better than expectation, as the net profit is estimated to grow 145%, while gross profit per ton is estimated to reach RMB95, against previous forecast of RMB75.

Though the sales yearly growth of 4.5% to 48.3 million tons may disappoint the market, the robust profit margin reflects the intention of maintaining the high cement price in the core market.

Meanwhile, Anhui Conch expressed that it will actively seek acquisition opportunities, which may result in upside potential for earnings.

Also, the cement demand may be boosted by the recently launched supporting policies.

The 2014 earning forecast was raised by 12% to RMB14.3 billion. The target price was lifted from $35 to $40, with Buy rating, BofA Merrill Lynch concluded.


Source: AAStocks Financial News
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Re: Anhui Conch Cement 0914

Postby winston » Fri Jun 06, 2014 2:47 pm

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<Research Report>ANHUI CONCH (00914.HK) downgraded to Neutral with target $35 - HSBC
Apr 2, 2014

HSBC Global Research downgraded ANHUI CONCH (00914.HK) to Neutral with target price kept at $35 to show improving sales prospect, lower coal costs and making better use of capacity expansion. The broker also lifted ANHUI CONCH earnings forecast by 3% for 2014.

ANHUI CONCH's management expected that the capital expenditure of RMB8.5 billion for 2014 is subject to upside risks, as the company is looking for investment opportunities inside and outside of China. This will also send the company's net gearing higher to 60%-65%.


Source: AAStocks Financial News
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Re: Anhui Conch Cement 0914

Postby winston » Wed Jul 02, 2014 6:52 pm

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ANHUI CONCH (00914.HK) sees significant growth in interim results
2014-07-02

ANHUI CONCH (00914.HK) +0.950 (3.571%) Short selling $9.22M; Ratio 5.674% issued positive profit alert, projecting significant growth in interim results for the 6 months ended 30 June, thanks to improvements in sales volume and selling price of products over the period.

Source: AAStocks Financial News
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Re: Anhui Conch Cement 0914

Postby winston » Thu Jul 03, 2014 6:17 pm

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ANHUI CONCH (00914.HK) reiterated Buy with target cut to $31 - BofA ML
2014-07-03

According to the latest research report by Bank of America Merrill Lynch, ANHUI CONCH (00914.HK) +1.550 (5.626%) Short selling $92.97M; Ratio 8.808% had issued positive profit alert, anticipating interim net profit to expand by 90%, thanks to improved sales and ASP.

The bank projected ASP of ANHUI CONCH will decrease from RMB253/ton to RMB238/ton in the second quarter. It was also expected cement price in China will further weaken in 3Q, due to the sluggish property constructions.

Rating of ANHUI CONCH was reiterated Buy, and target price was trimmed from $33 to $31. 2014/2015 earnings estimates were lowered by 6.53% and 9.17% respectively.

Source: AAStocks Financial News
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Re: Anhui Conch Cement 0914

Postby winston » Tue Dec 08, 2015 9:04 am

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<Research Report>G Sachs Upgrades ANHUI CONCH to Buy on Rising Trading Chances in Resources Stocks

Goldman Sachs, in its report, said although the industry was under periodic setbacks, some stocks provided transaction opportunities.

The existing infrastructure projects were expected to commence operation after the Two Sessions in March next year.

Number of new constructions of real estate projects was likely to be regain balance in the first half of next year.

The research house upgraded ANHUI CONCH (00914.HK) to Buy from Neutral with its target price raised to $25.4 from $25 as it anticipated the demand for cement and steel required in the early stage of construction would rebound in the second quarter next year, resulting in rally of price and gross price.

Source: AAStocks Financial News
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Re: Anhui Conch Cement 0914

Postby winston » Wed May 18, 2016 9:41 pm

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Anhui Conch (914 HK)

We expect cement producers’ earnings to bottom out in 2Q16 on the back of robust cement price hikes and strong volume pick-up since March.

We continue to opine that the ramp-up of infrastructure and property new starts will sustain a moderate recovery in the cement market in 2016.

We like Anhui Conch (914 HK) as cement prices in eastern China have experienced multiple hikes since March and the company has around 50% exposure in that region, hence we expect its 2Q16 performance to improve.

Source: UOBKH
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Re: Anhui Conch Cement 0914

Postby winston » Tue Aug 23, 2016 11:08 am

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Anhui Conch Cement Slashes Production Cost; Analysts Cheer

By Shuli Ren

Anhui Conch Cement (914.Hong Kong) jumped 3.6% in Hong Kong this morning after reporting better-than-expected first-half earnings.

Revenue at Conch Cement was essentially flat despite that its net sales volume grew 11% from a year ago. This is because cement’s selling prices were falling.

However, surprising the street was that Conch Cement managed to edge out a higher gross profit margin after slashing its production costs. Gross profit margin came in at 30.7% in the first half, above 28.7% a year ago.

Deutsche Bank‘s Johnson Wan wrote:

What surprised us was Conch’s cost cutting, which led to an RMB20/t cut in production cost, down 14% yoy. Currently, DB and consensus are pricing in GP/t of RMB52/t and RMB56/t respectively for FY16 vs. 1H16 GP/t of RMB56/t, which is clearly too low as we expect a strong 4Q.

We upgrade the earnings and TP of Conch-H to HKD25.6/sh and Conch-A to RMB22.3/sh, giving us 21% and 34% upside potential.

Conch Cement’s earnings also boosted other materials companies. China National Building Material (3323.Hong Kong) gained 3.1%, BBMG (2009.Hong Kong) rose 3.1%, China Resources Cement (1313.Hong Kong) was up 1.3%.

Source: Barron's Asia

http://blogs.barrons.com/asiastocks/201 ... sts-cheer/
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Re: Anhui Conch Cement 0914

Postby winston » Wed Aug 16, 2017 4:37 pm

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Anhui Conch Cement

Barron’s Asia picked Anhui Conch (914.HK) as one of our top stocks to own for 2017 and that bet is paying off so far: The shares have returned more than 35% so far this year.

Northern Trust Capital Markets says the Chinese cement maker will benefit from capacity cuts in the industry, which will support cement prices, and the coming big spend on infrastructure as part of the ‘One Belt, One Road’ project connecting China to Europe.

The stock still looks cheap. Anhui Conch trades at 10 times forecast earnings, which is a shade lower than its average valuation over the last few years. It’s also a big discount to global peers, like Mexico’s Cemex (CEMEXCPO.MX).

Source: Barron's Asia
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Re: Anhui Conch Cement 0914

Postby winston » Tue Sep 12, 2017 11:32 am

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Valuation

We raised our H-share TP to HK$35.80, led by earnings upgrade.

Our Hshare target valuation is pegged an unchanged 13.1x FY17F PE, based on core earnings.

Our target valuation is in line with historical average, still below the 13.9x average during 2012-15’s commodity doom cycle.

The positives could be upbeat 4Q17 ASP, low cement & clinker inventory in 1Q18, FY17F dividend payout hike and business development of aggregates.

Source: DBS

https://researchwise.dbsvresearch.com/R ... E=daebak-b
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Re: Conch Cement 0914

Postby winston » Thu Jan 11, 2018 3:42 pm

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<Research Report>M Stanley Believes CONCH CEMENT (00914.HK) Share Price to Rise in 60 Days

Morgan Stanley said in its report that it believed CONCH CEMENT (00914.HK)'s share price to hike in next 60 days.

The company was rated at Overweight with target price of $48.

Source: AAStocks Financial News
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