Analyst

Steve

Experience in both buy and sell-side in Asia.

Equity Bottom-Up

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<li>
<a href="https://www.smartkarma.com/entities/anhui-conch-cement-co-ltd" target="_blank" data-smartkarma-citation="entities:159:1" rel="noopener">Anhui Conch Cement (914 HK)</a> is trading at a historical low forward P/B of 0.5x, compared to an average of 1.2x for the last decade. </li>
<li>In the long term, China cement will likely see much lower volume and lower cement prices in the short term, but eventually rising cement prices due to better supply picture. </li>
<li>As the lowest cost producer, Anhui Conch stands a very good chance to win out in the long term and potentially more than double its current market share. </li>
</ul>



Anhui Conch Cement (914 HK) is trading at a historical low forward P/B of 0.5x, compared to an average of 1.2x for the last decade. 
In the long term, China cement will likely see much lower volume and lower cement prices in the short term, but eventually rising cement prices due to better supply picture. 
As the lowest cost producer, Anhui Conch stands a very good chance to win out in the long term and potentially more than double its current market share. 


Anhui Conch Cement (914 HK):  Where Are We In The Cycle?