Matthew Kwok: WESTCHINACEMENT (02233) entry: $1.7, target:$2.1, support:$1.5

AAFN - Top News

2012-06-04 09:10:38

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Matthew Kwok, Vice President – Global Investment Strategy (Investment Advisory) at Hai Tong Securities (HK) brokerage Ltd., expressed that WESTCHINACEMENT (02233)'s business is expected to restore growth this year; as the State Council attached higher importance to steady growth, the National Development and Reform Commission also speed up approval for infrastructure projects. Moreover, the provincial government's proposal to up-size the relocation project in Shaanxi has also driven up the cement demand to 1.2 million tons, which is most conducive to the company in the south of Shaanxi. The company has hiked the cement price twice since 2012, suggesting the rising demand, and the average selling price of the group's cement for the first quarter has already rose 15%, while the management expects the gross profit margin to rise from 10% in the first quarter to 20% in the second quarter, while the production capacity is likely to advance to 2300 tons. (t)

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