Group 1 - Cement stocks collectively declined, with China National Building Material down 4.71% to HKD 4.65, Jinju Group down 4.71% to HKD 0.81, Anhui Conch Cement down 4.03% to HKD 22.6, and Huaxin Cement down 2.12% to HKD 12.9 [1] - The national cement price index reported at 319.64 points on July 25, reflecting a month-on-month decrease of 1.58% and a year-on-year decrease of 11.30% [1] - The national cement market continued to show weakness, with significant regional disparities; North China faced weak price increases, while Northeast China struggled with soft demand [1] Group 2 - Short-term outlook indicates that due to the off-season, cement prices are slightly declining, but the downward space is limited; prices are expected to rise in August as demand enters the peak season [2] - UBS noted that despite high market sentiment, the Yajiang hydropower project is a long-term plan with limited immediate impact on company profits; assuming cement orders are distributed by market share and a gross profit of RMB 150 per ton, Tibet Tianlu is expected to achieve an annual profit of approximately RMB 160 million, compared to a loss of RMB 104 million in 2024 [2] - Net profit growth estimates for Huaxin Cement, China National Building Material, and Anhui Conch Cement are approximately 5%, 2%, and 0.4% respectively [2]
港股异动 水泥股集体走低 中国建材(03323)跌近5% 水泥市场延续弱势运行