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研报掘金丨招商证券：海螺水泥高分红比率保障股东利益，维持“强烈推荐”评级

Research Report Nuggets丨China Merchants Securities: Conch Cement's high dividend ratio protects shareholders' interests and maintains a “highly recommended” rating

Gelonghui Finance ·  Apr 2 05:25

According to the China Merchants Securities Research Report, the main cement business profit of Hailuo Cement (600585.SH) was under pressure in 23, and the expansion of production capacity in multiple businesses promoted growth. The company insists on effective investment and continues to strengthen the main cement business and the upstream and downstream industrial chains; in the future, it will focus on aggregates, commercial mixing and other businesses contributing to performance growth points. Considering that the contradiction between supply and demand in the cement industry is still prominent in 2024, production capacity will still curb the room for a rebound at the bottom of cement prices, and the profit forecast for the company will be lowered. If the 24-year results are calculated based on a 50% dividend rate, the current dividend rate is 3.95%, maintaining a “highly recommended” investment rating.

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