In today’s briefing:
- Anhui Conch Cement (914 HK): Well Geared Towards the Long-Term Drivers
Anhui Conch Cement (914 HK): Well Geared Towards the Long-Term Drivers
- We see improvements in the underlying drivers of Anhui Conch Cement (914 HK) over the last two months, and we believe value has emerged for long-term investors.
- There is a slight recovery in cement price in Sep, and the proceeds from local governments’ special purpose bonds issuance will make incremental stimulus to demand.
- Net cash now amounts to 37.5% of share price, providing support to its over 9% prospective dividend yield as well as potential value-enhancing M&As.
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