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Pujiang Intl (02060.HK) established an independent director's committee.
On May 31, 2024, pujiang intl (02060.HK) announced that the board of directors established an independent director committee composed of Ms. Pan Yingli, Mr. Chen Dewei and Mr. Tang Zhibin (all independent non-executive directors of the company). On June 4, 2024, the company appointed an independent monitoring and recognition expert, Amey Corporate Consultants (Shanghai) Co., Ltd., to conduct independent monitoring and recognition investigations on unresolved issues recommended by the company's auditors.
PUJIANG INTL: (I) UPDATE ON DELAY IN PUBLICATION OF THE 2023 ANNUAL RESULTS AND THE 2023 ANNUAL REPORT; (II) FORMATION OF INDEPENDENT BOARD COMMITTEE AND INTENDED INDEPENDENT INVESTIGATION; AND (III) CONTINUED SUSPENSION OF TRADING
Hong Kong Stock Concept Tracking | Cement Prices Rise, Building Materials Industry Value Revaluation (with concept stocks)
Since May, cement prices have risen in Northeast China, Central China, South China, and Southwest China. As of last Friday, the average price of cement nationwide reached 372 yuan/ton, up about 12 yuan from the beginning of the month, a record high since the second quarter.
SDIC Securities: The new real estate policy goes hand in hand, and the collection and storage of state-owned assets is expected to accelerate and continue to be optimistic about the performance of building materials in the good production chain
The real estate industry has ushered in major favorable policies. Purchase restrictions have been relaxed in many places, and mortgage relaxation policies have exceeded expectations. Trade-in and state-owned assets collection and storage are expected to accelerate. The sales side and financing side are taking multiple measures together to help the building materials industry recover demand and improve repayments, and priority benefits for consumer building materials in the real estate chain.
Guoxin Securities: Building materials valuations and holdings are all in a position to focus on expected sectors and individual stock recovery opportunities
Guoxin Securities released a research report saying that the Politburo meeting set the policy direction of “resolving stocks and optimizing incremental growth”. Mainstream cities have successively optimized purchase restriction policies, which are expected to reverse pessimistic real estate expectations to a certain extent. Currently, fundamentals have not improved significantly, and market confidence will take time to recover. Subsequent support policies are still expected to be further strengthened. The valuations and positions of the building materials sector are at a low level. Concerned about the valuation repair opportunities of leading consumer building materials and some individual stocks that have surpassed the decline.
Huatai Securities: Demand starts slowly after the cement festival than the industry's losses or phased expansion in previous years
Due to the lower price starting point before the Spring Festival and slower price recovery after the holiday season than in previous years, it is expected that most cement companies' profits in 1Q24 will decline the same or month-on-month, and the industry's losses may expand.
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