Cement Producers

Re: Cement Producers

Postby winston » Wed Jul 27, 2016 9:44 am

Cement - China

1H16 Results Preview: Weak Earnings Widely Expected; Further Improvement Likely In 2H16

Apart from BBMG which has benefitted from higher property sales recognition, we expect most cement players to report a steep earnings decline in 1H16 due to the high cement price base in 1H15, although decent sales volume growth was recorded.

Nonetheless, cement players’ earnings bottomed out in 2Q16 while a further cement price hike in Sep-Nov 16 will drive earnings improvement in 2H16.

Maintain OVERWEIGHT on the sector. Top picks: Conch and CR Cement.

Source: UOBKH

https://research.uobkayhian.com/content ... 174cc80b3e
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Re: Cement Producers

Postby winston » Wed Sep 28, 2016 5:32 am

China’s cement firms look to Beijing for help in trimming excess

An unprecedented consolidation is about to take place in China’s cement industry with an aim of concentrating at least 60 per cent of national capacity into 10 top producers by 2020.

The mainland’s cement association has petitioned policymakers to speed up consolidation in the sector, which is currently crowded with 3,500 producers.

Cement is one of the industries suffering from serious overcapacity in addition to steel and coal.


Source: SCMP


http://www.scmp.com/news/china/economy/ ... ing-excess
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Re: Cement Producers

Postby winston » Wed Jul 26, 2017 9:07 am

17 Jul 2017

<Research Report>Deutsche Lifts TPs on CN Cement Stocks; Expects Upcycle to Continue

Deutsche Bank, in its report, said cement pricing in 1H17 has continued its upward trajectory with nationwide cement prices up an average of 32% yearly.

The strong price hikes mean median earnings could rise by about 71% for cement companies under the broker's coverage.

Although cement prices will correct in June and July due to seasonality, the broker has seen signs of price stabilization in some regions.

The broker estimated cement companies in 1H would have already achieved 48% of full year consensus earnings, presenting upside risks to Street earnings upgrades.

While the magnitude of earnings increase will likely decline into 2H, Deutsche Bank said cement prices should still see about 13% growth in 2H.

For 2H17 outlook, Northwest China is the best region in China this year. Both SINOMA (01893.HK) and WESTCHINACEMENT (02233.HK) saw 1H17 volumes grow by over 5% on the back of strong infrastructure investments.

Tight supply has also led to gross profit per tonne improving significantly. Deutsche Bank believed that a more stable earnings outlook and higher dividends support higher valuations.

Source: AAStocks Financial News
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Re: Cement Producers

Postby winston » Thu Sep 14, 2017 6:08 pm

Chinese cement stocks rise on expectations of price increases as construction activity picks up

Analysts see prices rising from the fourth quarter as supply remains constrained. Top maker Anhui
Conch’s shares rise over 5 per cent and Huaxin jumps 10 per cent

Source: SCMP

http://www.scmp.com/business/china-busi ... -increases
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Re: Cement Producers

Postby winston » Wed Oct 18, 2017 12:02 pm

<Research Report>Deutsche Latest Ratings & TPs on Cement Stocks (Table)

Deutsche Bank, in its report, updated the ratings and target prices of cement stocks:

Shares/ Ratings/ Target prices (HK$)
CONCH CEMENT (00914.HK)/Buy/37->40
CHINARES CEMENT (01313.HK)/Buy/6.15->6.49
CONCH VENTURE (00586.HK)/Buy/22.03->23.52

Source: AAStocks Financial News
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Re: Cement Producers

Postby winston » Thu Dec 07, 2017 8:33 am

China giants CNBM and Sinoma merge to become world’s largest cement maker, eye Silk Road growth

Country’s largest and fourth-largest cement producers aim for 100 plants in three to five years

While the 520 million tonnes of annual capacity developed by CNBM and Sinoma globally is small compared with China’s capacity of about four billion tonnes, it represents an avenue for long-term growth.


With fixed-asset investment growth slowing from an average of 23.4 per cent in the decade to 2014 to below 10 per cent since 2015, China’s cement production growth rates have fallen from 13.2 per cent in the decade to 2013, to being largely stagnant since 2014.


Source: SCMP

http://www.scmp.com/business/companies/ ... t-and-road
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Re: Cement Producers

Postby winston » Thu Jan 11, 2018 2:30 pm

Cement Stocks Dive Over 3-8%; Clinker Price Cut along Yangtze River Delta

Clinker prices along Yangtze River Delta were trimmed by up to RMB170 per ton.

Cement stocks broadly plunged. Locomotive CONCH CEMENT (00914.HK) tumbled 7.3% to $39.75, testing 10MA ($39.7). CONCH VENTURE (00586.HK) slipped 6.2% to $19.88.

CNBM (03323.HK) and SINOMA (01893.HK) slumped below 10MA ($7.71 and $6.48), and last traded at $7.63 and $6.41, down 8.2%. CHINARES CEMENT (01313.HK) and WESTCHINACEMENT (02233.HK) dived 5.5% and 3.84% to $5.53 and $1.27. BBMG (02009.HK) plummeted 3.5% to $3.83, missing 10MA ($3.89).

Source: AAStocks Financial News
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Re: Cement Producers

Postby winston » Mon Mar 19, 2018 2:19 pm

<Research Report>BofAML: Research Co. Positive on PRC Cement Industry This Year; Top Pick CONCH CEMENT

Feb 8, 2018

In its report, Bank of America Merrill Lynch said after meeting with Geography Cement, a search company, the latter was highly positive on cement industry outlook this year, due to extremely low supply, considering the industry trend for 2017-19 will be similar to 2010-12.

Bank of America Merrill Lynch reiterated CONCH CEMENT (00914.HK) as industry top pick; BBMG (02009.HK) benefited from concept of Xiong'an New Area; CHINARES CEMENT (01313.HK) and CONCH VENTURE (00586.HK)'s core profit after tax may see growth above 50% this year.

Source: AAStocks Financial News
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Re: Cement Producers

Postby winston » Thu May 24, 2018 9:02 am

Cement – China
Right Time, Right Place


Despite lacklustre demand, cement prices have been trending up to historical highs due to government policy-guided and market-driven production curbs.

The curbs would remain in place and we expect a more concentrated market on stricter
environmental standards and collaborations between leading players.

We prefer east and south China with better supply-demand dynamics.

We re-initiate coverage on the sector with MARKET WEIGHT.

Our top picks are CNBM and Conch-A.

Source: UOBKH

https://research.uobkayhian.com/content ... 7c6ce3dd21
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Re: Cement Producers

Postby winston » Wed Jul 11, 2018 8:54 am

Cement – China

1H18 Results Preview: Record-High Earnings Ahead

We expect the sector to deliver decent 1H18 results in a strong cement market.

In our view, infrastructure demand might pick up with potential acceleration of fiscal spending in 2H18, thus benefitting the cement sector.

We believe the recent sell-off in the market has created a good opportunity to accumulate quality cement names.

Upgrade the China cement sector to OVERWEIGHT. Maintain BUY on Anhui Conch, CNBM, and CR Cement with new target prices.

Source: UOBKH

https://research.uobkayhian.com/content ... 3559891e70
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