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00914 CONCH CEMENT
RTNominal unchange16.280 0.000 (0.000%)
Research Report

28/04/2020 16:50

{I-bank focus}HSBC raises Anhui Conch (00914) to HK$70

[ET Net News Agency, 28 April 2020] HSBC Global Research raised its target price for
Anhui Conch (00914) to HK$70 from HK$67 and maintained its "buy" rating.
Despite the cement sales volume (down 21%) in 1Q was heavily impacted by COVID-19, the
research house said supply-side control meant that cement ASP (RMB337/t) and GP/t
(RMB158/t) were both higher than the same period last year.
HSBC believes that pent-up demand has already started releasing as some regions have
already recorded stronger than normal demand. Inventory levels have pretty much normalised
in most parts of China. It expects 2Q will be a mini-peak season for cement, and HSBC sees
cement prices rising throughout 2Q. (KL)

Remark: Real time quote last updated: 28/03/2024 18:00
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