Western Cement (02233) is now up more than 4%. As of press release, it has risen 4.31% to HK$1.21, with a turnover of HK$1.3326 million.
The Zhitong Finance App learned that Western Cement (02233) is now up more than 4%. As of press release, it has risen 4.31% to HK$1.21, with a turnover of HK$1.3326 million.
According to a research report released by Tianfeng Securities, Western Cement's overseas business revenue increased year by year. The company's overseas revenue/profit reached 27.7/1,015 billion yuan respectively in '23, +145%/+197% year-on-year, accounting for 31%/74% respectively, and is optimistic about the company's future overseas business contribution.
The bank pointed out that the company's first overseas cement project was located in Mozambique. Production capacity has gradually expanded in recent years, reaching 4.8 million tons by the end of '23, and production capacity is expected to reach 1220/ (slightly less than) 19.7 million tons in 24/25. On the African side, the countries selected by the company are in the top 20 most populous countries in the region, with strong support for local economic development and broad space for cement demand. It is expected that in the future, with the gradual implementation of the company's production capacity in various parts of Africa, the company is expected to rank in the top 10, and its market share will increase dramatically; in Central Asia, the company chose Uzbekistan. Currently, competition in the Ukrainian cement market is fierce. After the company is put into operation, it will occupy a large market share, and the leading position is expected to stabilize.