The Zhitong Finance App learned that Conch Venture (00586) is now up more than 4%. As of press release, it has risen 4.42% to HK$5.67, with a turnover of HK$42.984,600.

Citi released a research report saying that Conch Venture's stock price has declined by about 60% over the past 12 months. Currently, the valuation is attractive, and the risk of further decline in stock prices is limited, because as its stock price stabilizes, it is believed that the weak cement profit situation has been reflected; dividends were cut last year; subsidies for urban waste disposal have been completely abolished since the second half of last year, and no longer faces the risk of further profit cuts. The bank upgraded Conch Venture's rating from “neutral” to a “buy” rating, and the target price was raised from HK$5.7 to HK$7.2.

Huatai Securities previously stated that the company plans to limit capital expenditure to around 2.5 billion yuan in 2024, mainly focusing on the construction of environmental protection projects such as waste-to-energy generation. With the improvement of the company's environmental protection business layout and production capacity investment in new energy materials projects, we expect the peak period of the company's scale expansion has passed. The improvement of operational quality and the release of market competitiveness may become the focus of the company's future development. We believe this will be more beneficial for the company to improve the quality of earnings, raise the level of free cash flow, and achieve steady and far-reaching progress in the face of challenging market supply and demand.