Core Viewpoint - Goldman Sachs reported that China Resources Cement Holdings (01313) achieved a net profit of 307 million RMB in the first half of the year, with earnings per share of 4.4 cents, representing an 85% year-on-year increase. However, the results fell short of the bank's and market expectations [1] Financial Performance - The company's recurring net profit increased by 98% year-on-year to 391 million RMB, but still below expectations [1] - The interim dividend declared is 1.4 Hong Kong cents per share, with a payout ratio of 30% [1] Earnings Forecast - Goldman Sachs has reduced the company's earnings forecast for this year by 54%, while maintaining the forecast for next year unchanged. The forecast for 2027 has been lowered by 2% [1] - The bank predicts that the unit gross profit for cement will rise from 45 RMB per ton in the second half of this year to 65 RMB per ton by 2026 [1] Target Price and Rating - The target price for the stock has been raised from 2 HKD to 2.1 HKD, with a maintained rating of "Buy" [1]
高盛：微升华润建材科技(01313)目标价至2.1港元 评级“买入”