Gelonghui December 16 | Morgan Stanley released a research report indicating that after severe losses in the first half of the year, the cement Industry has made adjustments, and with production control policies, it should help avoid oversupply in cement production and improve industry consolidation. The firm believes that leading cement manufacturers should benefit from new supply controls, and cement will not be affected by potential trade competition. Morgan Stanley stated that the volume of new housing starts and completions may continue to decline next year. New Infrastructure and industrial investments may exhibit moderate growth, which in turn may lead to weak demand for Building Materials in the later stages. Additionally, leading manufacturers have become more cautious in their sales policies. The firm lowered CR BLDG MAT TEC's earnings per share forecasts for 2024 to 2026 by 18%, 8%, and 5%, respectively, but raised the Target Price by 19% to HKD 2.3; it lowered WESTCHINACEMENT's earnings per share forecast for 2024 by 5%, while increasing forecasts for 2025 and 2026 by 22% and 8%, respectively, with the Target Price raised to HKD 1.5.