Cement – China1H19 Results Round-up: Strong Momentum To Sustain
Chinese cement companies maintained strong results in 1H19, with leading players strengthening their competitiveness.
Anhui Conch was upbeat on margin expansion and continued to outperform peers.
CNBM’s results were in line with steady revenue growth across all segments but the de-leveraging process was slower than expected.
CR Cement showed resilience amid the off-peak season and rainy weather.
Infrastructure FAI pick-up is key to cement demand in 2H19.
We prefer the eastern and southern regions during the upcoming demand peak season.
Maintain OVERWEIGHT.
Source: UOBKH
https://research.uobkayhian.com/content ... 1f30df8ed1
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