@Bunifa Latif：
$Anhui Conch Cement Company Limited(600585)$Anhui Conch is expected to see continued profitability, supported by its leading position in eastern and southern China. Anhui has a track record of managing its costs well in the past, which should help in supporting margins during downturns. Given its strong capital position (in net cash), the company is also positioned to make strategic acquisitions. Near term risks to monitor include demand softness, margin pressures, and regulatory risks. Overall, Anhui’s supportive dividend yield and strong balance sheet position makes it a relatively more defensive pick, although its ESG track record has lagged industry peers. FY21 dividend payout ratio of 38% was increased from 32% in 2020, given its net cash p
