CNBM (03323) plans to acquire a comprehensive cement enterprise in Tunisia for $130 million.
CNBM (03323) announced that on July 26, 2024, China National Building Materials Cement (its subsidiary company) and V...
Express News | China National Building Material - Unit to Acquire All Shares of Société Les Ciments De Jbel Oust for USD130 Mln
HK stocks abnormal | CR Building Materials Technology (01313) fell nearly 6%, leading the decline in cement stocks. Institutions said that there is limited room for further rise in cement prices.
Cement stocks collectively fell. As of press time, CR Building Material Tech (01313) was down 4.84%, at HKD 1.77; West China Cement (02233) was down 2.78%, at HKD 1.05; Huaxin Cement (06655) was down 1.65%, at HKD 7.76; CNBM (03323) was down 1.18%, at HKD 2.52.
Ping An Securities: Cement prices actively increased during the off-season, paying attention to changes in the supply side.
Top enterprises have shown a positive attitude towards actively implementing kiln shutdowns and raising cement prices during the industry's off-season. Currently, the implementation situation is relatively good, while also considering the expected demand to recover in the second half of the year.
Hong Kong stock market anomaly: CNBM (03323) has fallen by nearly 4% again, with second-quarter losses of RMB 650 million, which is worse than expected. UBS Group predicts negative investor reaction.
Shares of cnbm (03323) have fallen nearly 4%, and as of press time, have fallen 2.97% to HKD 2.61, with a turnover of HKD 25.8772 million.
GTJA: Financial and tax reforms may boost the profitability and valuation of the construction sector's one-for-five rate.
The financial and tax system reform may increase local revenue and enhance the investment and payment capacity of local governments. On the one hand, new contracts are expected to be signed by construction companies, while on the other hand, existing orders may accelerate the progress of more physical workload and performance, enhancing total profit, net asset return rate, and PEG valuation.
Hang Seng Index Company: The Hang Seng Stock Connect State-Owned Enterprise Value Index has risen by more than 26% since the beginning of the year, significantly outperforming the market.
Heng Seng Index Company stated that state-owned enterprises have significantly outperformed in the Hong Kong stock market in recent years.
Building materials and cement stocks collectively rose, CR Building Materials Technology (01313) rose 6.63%, institutions pointed out that cement synergy this year is better than in previous years.
Building materials and cement stocks are moving up collectively. As of the time of publication, CR Building Materials Technology (01313) has risen by 6.63%, BBMG Corporation (02009) has risen by 3.64%, CNBM (03323) has risen by 2.72%, and Westchinacement (02233) has risen by 1.89%. Changjiang Securities released a research report stating that since May, due to changes in the strategy of leading cement enterprises and the continuous losses of small enterprises in the first half of the year, the self-help mentality of these companies has been strengthened and the willingness to cooperate has significantly increased. In addition, looking at the price performance over the past two months, staggered price increases are still effective, and bottom signals are becoming clearer. Currently, the overall cash flow of cement companies is relatively sufficient.
Hong Kong stocks closed (07.09) | HSI flat, Apple suppliers and semiconductor stocks strong throughout the day, cnbm (03323) plummeted 13% after warning of earnings.
In the morning trading, the three major Hong Kong stock indices showed weak volatility. They all rose and turned red at noon, but then struggled to rise. The Hang Seng Index and the National Index successively fell, only the Hang Seng China Enterprise Index achieved growth.
Changjiang Securities: Cement continues to push up synergistically, bottom dividend value is showing.
According to a research report by Changjiang Securities, since May, with the continuous losses of small cement companies in the first half of the year, the leading cement companies have changed their strategies, strengthened their self-rescue mentality, and significantly enhanced their willingness to cooperate. From the price performance of the past two months, staggered price increases are still effective, and bottom signals are gradually becoming clear.
China National Building Material Expects to Swing to H1 Loss; Shares Side 13%
Hong Kong stock market fluctuation: Cement stocks fell the most. From January to May, more than 55% of cement industry enterprises faced losses. The willingness to raise prices in the off-season has increased.
Cement stocks have the largest decline. As of press time, CNBM (03323) fell 13.11% to HKD 2.65; CR Building Materials Technology (01313) fell 7.74% to HKD 1.55; West China Cement (02233) fell 2.7% to HKD 1.08.
CNBM (03323) fell by 4.59%, expected to turn from mid-term profit to a loss of about 2 billion RMB.
Jingu finance news | CNBM (03323) issued a profit warning, dragging down the stock price. As of the time of publication, the stock was trading at HKD 2.92, down 4.59%, with a turnover of HKD 11.8605 million. According to the profit warning notice, it is expected to lose about CNY 2 billion in the first half of the year ending in June, compared to a net profit of CNY 1.404 billion in the same period last year. The announcement points out that the expected profit-to-loss turnaround is mainly due to the decrease in the selling prices of the group's main products, such as cement, commodity concrete and fiberglass, the decrease in the sales volume of cement and commodity concrete, and the decrease in the performance of shareholding companies. However, some of this is offset by the decrease in sales costs of cement and commodity concrete.
HK Stock Market News: CNBM (03323) opened nearly 5% lower and is expected to have a loss of approximately 2 billion yuan in the first half of the year, which turned from profit to loss compared with the same period last year.
cnbm (03323) opened nearly 5% lower. As of writing, it has fallen by 4.92%, trading at HKD 2.9, with a turnover of 2.668 million HKD.
China National Building Material Expects to Swing to Loss in 1H >3323.HK
China National Building Material Sees 1H Loss CNY2.0B-Net CNY1.40B >3323.HK
CNBM (03323.HK) issues profit warning: expected to turn from profit to loss of approximately 2 billion yuan in the first half of the year.
China National Building Materials (03323.HK) announced that the unaudited loss attributable to equity holders for the six months ending on June 30, 2024 is expected to be approximately RMB 200 million, while the profit attributable to equity holders for the same period last year was approximately RMB 140.4 million. The expected decline is mainly due to the decrease in selling prices of the group's main products, such as cement, commodity concrete, and fiberglass, the decrease in sales volume of cement and commodity concrete, and the decline in performance of affiliated companies, partially offset by the decrease in sales cost of cement and commodity concrete.
Express News | China National Building Material - Expected Result Due to Decrease in Sales Prices of Cement, Commercial Concrete and Glass Fibre in Hy, Others
Express News | China National Building Material Sees Unaudited Loss Attributable for Six Months RMB2,000 Mln
CNBM: PROFIT WARNING
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