Movement Alert|CNBM Rises 5.14% in Regular Trading, Multiple Institutions Flag Sector Valuation Bottom Amid Sustained E-Glass Price Surge

Market Focus09:35

On July 31, CNBM rose 5.14% in regular trading, trading at HK$3.85/share, with turnover of HK$51.16 million.

On the news front, multiple institutions recently issued research reports indicating that leading building materials companies have reached historically low valuations, with industry pricing showing signs of bottoming and entering a recovery trajectory. Concurrently, the company's subsidiaries China Jushi and Sinoma Science & Technology are fully benefiting from tight electronic cloth supply-demand dynamics, with electronic cloth prices having surged over 70% cumulatively since the beginning of the year. The fiberglass new materials segment continues to exhibit volume-price expansion, partially offsetting pressure from the traditional building materials division.

Citi previously placed CNBM on its 90-day upside catalyst watch list, reiterating a Buy rating with a target price of HK$7.30, noting that the stock has not yet fully reflected the valuation re-rating potential of its new materials assets.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment