Movement Alert｜CONCH CEMENT Rises 3.11% in Regular Trading, UBS Upgrade Combined with Sustained Buybacks Boost Sentiment

Market Focus07-23

On July 23, CONCH CEMENT rose 3.11% in regular trading, trading at HK$18.22/share, with turnover of approximately HK$45.25 million.

The rally was driven by a dual catalyst: UBS upgraded the stock from \"Sell\" to \"Neutral\" with a target price of HK$18.2, while the company continued its high-frequency share repurchase program. UBS noted that evidence of the cement industry bottoming is increasingly apparent, projecting profitability to trough this year before a mild recovery from 2027, supported by declining thermal coal prices from RMB 750/ton to RMB 720/ton. The bank revised 2026 and 2027 earnings forecasts down 16% and 5% to RMB 7.1 billion and RMB 7.5 billion respectively.

On the buyback front, the company repurchased 240,000 H shares on July 22 for approximately HK$4.25 million, and 550,000 H shares on July 21 for approximately HK$9.69 million. As of July 20, cumulative A-share buybacks reached approximately RMB 237 million under a RMB 600 million to RMB 1 billion program expiring August 25. The company has also cancelled 22.24 million A shares, reducing total share capital to 5.277 billion shares.

(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.

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