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JPMorgan is bullish on China's "capacity reduction": it will be bullish for the stock market, especially for leading companies in the New energy Fund and real estate.
Many Wall Street investment banks are Bullish on China's "anti-involution" policy. Following Goldman Sachs, JPMorgan stated that China's "capacity reduction" policy may boost the stock market. Recently, the Sixth Meeting of the Central Financial and Economic Affairs Committee emphasized the need to govern low-priced and disorderly competition among enterprises in accordance with the law, and to promote the orderly exit of outdated capacity, signaling a new anti-involution policy from the national level. At the same time, several industry associations, including steel, Cement, Battery, and plastic processing, have also launched calls for "anti-involution." On July 9, JPMorgan's latest Research Reports indicated that if the Chinese government's policy to curb capacity overcapacity is properly implemented, it will have a positive impact on the stock market and global trade.
Guotai Junan: After 2025, there may be a differentiated period for overseas Cement profitability.
The years 2021-2024 will be a period of acceleration for Chinese Cement companies going abroad, while after 2025, a period of differentiation among these companies may emerge. The corporate mechanism determines the speed of capacity expansion, but internal capabilities determine the quality of overseas profit realization.
Tianfeng: Bullish on Cement against involution, continue to recommend high-end electronic fabric varieties.
Current Cement prices have hit a new low, with last week's average price in East China being 17 yuan/ton lower year-on-year. The price difference between coal and water is basically on par with last year. Following the upper layer's renewed emphasis on reversing internal competition, the price coordination mechanism is expected to play a role again. Pay attention to opportunities for price rebound in the future.
The completion amount of construction works in Hong Kong: In the first quarter, the nominal total value increased by 1.9% year-on-year, while the actual total value slightly decreased by 0.9%.
The total nominal value of construction projects completed by the main contractor in the first quarter of 2025 amounted to 70.5 billion Hong Kong dollars, an increase of 1.9% compared to the same period last year.
Zhixin Group Holding Limited Announces 2025 Annual General Meeting
ZHIXIN GP HLDG: 2024 ANNUAL REPORT