Zhitong Financial APP learned that China Resources cement Holdings (01313) fell more than 5%. As of press time, it fell 4.23% to HK $1.81, with a turnover of HK $26.9284 million.

On the news, China Resources cement Holdings previously announced that the group expects the profit attributable to company owners to fall by 59% to 63% in the nine months to September 30, 2023 compared with the same period last year. Macquarie pointed out that the mainland cement industry is not expected to lose capacity because of the strong balance sheets of the major participants. The bank cut its profit forecast for China Resources cement from 2023 to 2025 by 27 per cent to 54 per cent and its target price from HK $4.80 to HK $2.80.