Changes in Hong Kong stocks | Western Cement (02233) rose more than 5%, the African cement market has more space, and subsequent production capacity implementation is expected to contribute to greater growth in performance

The Zhitong Finance App learned that Western Cement (02233) rose by more than 5%. As of press release, it had risen 5.42% to HK$2.92, with a turnover of HK$71.0672 million.

According to the news, Western Cement previously announced its interim results, with revenue of RMB 5.418 billion for the first half of the year, an increase of 46.4% over the previous year; the company's owners should account for profit of 748 million yuan, an increase of 93.4% over the previous year. During the reporting period, sales of cement and clinker increased 23.6% year over year to 10.82 million tons. Among them, sales volume in the Chinese market fell 8.3% to 6.65 million tons, while sales in overseas markets increased 178% to 4.17 million tons.

Changjiang Securities pointed out that the integration of the company's production capacity continues to advance. During the period, it was announced that it would acquire 1.2 million tons of cement production capacity in the Congo and sell all of its businesses in Xinjiang to Hailuo Cement, with a total cement production capacity of 3.5 million tons. The bank stated that it expects continued overseas expansion to bring greater flexibility in the medium term. The African cement market has large space, high prosperity, and much higher profitability than at home. It is a new blue ocean market for domestic companies to go overseas. Currently, the company still has a number of projects under construction/proposed in the African market. It is hoped that after the projects are implemented and put into production one by one, they will contribute more to the company's performance.