West China Cement (02233) fell more than 5% in afternoon trading, and by the time of writing was down 4.4% at HK$2.39, with a turnover of HK$71.36 million. The company previously released its results, showing second-half revenue and net profit of RMB 4.2 billion and RMB 130 million, respectively, down 9.5% and 45.1% year-on-year, and down 22% and 82% compared to the first half. A research report from Changjiang Securities noted that on a per-ton basis, overseas prices were RMB 470 per ton, a decrease of 25.5% year-on-year. The decline in overseas prices was mainly due to price reductions in Ethiopia and the impact of currency depreciation, while Mozambique remained relatively stable. According to reports earlier this month, due to ongoing conflicts in the Middle East, prices in Ethiopia have continued to rise, significantly impacting various industries and daily life. A construction site manager stated that over the past two weeks, sharp increases in building material prices have severely affected work, with cement prices nearly doubling, and prices for sand, gravel, and steel also rising sharply. If this trend continues, there are concerns that work may be forced to halt.
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