The Zhitong Finance App learned that cement stocks generally rose. As of press release, Huaxin Construction (06655) rose 6.62% to HK$15.94; Conch Cement (00914) rose 4.15% to HK$16.83; Western Cement (02233) rose 3.88% to HK$1.74; and China Building Materials (03323) rose 2.88% to HK$3.04.
According to the news, according to the CementNet app, cement prices in the three provinces of Xiangqiong and Guangdong recently increased centrally due to the recovery of rush demand in the fourth quarter and support of erroneous production. Leading companies in Shaoyang, Hengyang, and Zhangjiajie in Hunan announced an increase of 30 yuan/ton; 4 brands in Haikou and Sanya in Hainan increased by 30 yuan/ton; and brands such as Tabai and Runfeng in Shantou, Meizhou, and Shanwei in Guangdong, increased 20 yuan/ton. Furthermore, Guangdong Province issued a rectification notice in response to the problem of overproduction by cement clinker companies, requiring that accurate daily production monitoring be carried out to curb the phenomenon of overproduction capacity.
Societe Generale Securities previously pointed out that in 2026, the cement industry will enter a low-level repair stage where demand declines are narrowed and supply control is strengthened. Profit recovery mainly comes from supply-side overproduction control combined with erroneous peak production execution. Leaders are deterministic with their advantages in cost, capital, governance, and overseas layout. The cement industry's PB quantile valuation has reached the bottom of history. The bottom signal conveyed by off-season price increases is obvious. Among them, leading cement companies have a cost advantage. Under the premise of a steady recovery in profits, the attractiveness of high dividends has increased, and the allocation is cost-effective.