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<Research> BofAS Raises CNBM (03323.HK) TP to HKD6.7, Expects Improvement in Cement Business Outlook
Recommend 6 Positive 9 Negative 3 |
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BofAS said in a research report that CNBM (03323.HK) recorded a net loss of RMB177 million in 1Q, in line with its earlier profit warning guidance. The broker estimated that, after deducting perpetual bond interest, net profit calculated under IFRS reached RMB253 million. The quarterly loss narrowed by 60% YoY, or RMB386 million, mainly benefiting from improved results of two fiberglass subsidiaries. During the period, the cement business subsidiaries recorded a net loss of RMB1.5 billion, flat YoY. The broker reiterated its Buy rating and raised the TP from HKD5.7 to HKD6.7, expecting improved prospects for the cement and new building materials businesses. (ss/a) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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