Zhi Tong Cai Jing·2025-09-03 02:17Core Viewpoint - Western Cement (02233) has seen a stock price increase of over 5%, currently trading at 2.92 HKD, with a transaction volume of 71.07 million HKD, following the release of its interim performance report showing significant revenue and profit growth [1] Financial Performance - The company reported a revenue of 5.418 billion RMB for the first half of the year, representing a year-on-year increase of 46.4% [1] - Profit attributable to shareholders reached 748 million RMB, marking a year-on-year increase of 93.4% [1] - Cement and clinker sales volume increased by 23.6% to 10.82 million tons during the reporting period [1] Market Dynamics - Sales volume in the Chinese market decreased by 8.3% to 6.65 million tons, while overseas sales volume surged by 178% to 4.17 million tons [1] - The company is actively pursuing capacity consolidation, including the acquisition of 1.2 million tons of cement capacity in Congo and the sale of all operations in Xinjiang to Conch Cement, totaling 3.5 million tons of cement capacity [1] Strategic Outlook - Changjiang Securities anticipates that ongoing overseas expansion will provide greater flexibility in the medium term [1] - The African cement market is identified as a new blue ocean for domestic companies, characterized by significant market potential, high profitability, and a favorable economic environment [1] - The company has multiple ongoing and planned projects in the African market, which are expected to contribute significantly to future performance [1]