View ValuationWest China Cement 향후 성장Future 기준 점검 4/6West China Cement (는) 각각 연간 20.5% 및 13.8% 수익과 수익이 증가할 것으로 예상됩니다. EPS는 연간 20.5% 만큼 성장할 것으로 예상됩니다. 자기자본이익률은 3년 후 9.4% 로 예상됩니다.핵심 정보20.5%이익 성장률20.46%EPS 성장률Basic Materials 이익 성장19.2%매출 성장률13.8%향후 자기자본이익률9.42%애널리스트 커버리지Low마지막 업데이트08 Jun 2026최근 향후 성장 업데이트업데이트 없음모든 업데이트 보기Recent updatesValuation Update With 7 Day Price Move • Jun 10Investor sentiment deteriorates as stock falls 23%After last week's 23% share price decline to HK$1.63, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 8x in the Basic Materials industry in Hong Kong. Total returns to shareholders of 20% over the past year.New Risk • Jun 08New minor risk - Dividend sustainabilityThe dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 2.9% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results.공시 • May 30West China Cement Limited Approves Final Dividend for the Year Ended 31 December 2025West China Cement Limited at the AGM held on 29 May 2026, approved to declare a final dividend of RMB 0.048 per ordinary share for the year ended 31 December 2025 to the shareholders of the Company which shall be paid out of the distributable reserve of the Company.Board Change • May 20Less than half of directors are independentFollowing the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 7 non-independent directors. Independent Non-Executive Director Ka Keung Lau was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.공시 • Mar 24West China Cement Limited, Annual General Meeting, May 29, 2026West China Cement Limited, Annual General Meeting, May 29, 2026.공시 • Mar 09West China Cement Limited to Report Fiscal Year 2025 Results on Mar 23, 2026West China Cement Limited announced that they will report fiscal year 2025 results on Mar 23, 2026공시 • Aug 15West China Cement Limited to Report First Half, 2025 Results on Aug 25, 2025West China Cement Limited announced that they will report first half, 2025 results on Aug 25, 2025공시 • May 23West China Cement Limited Approves Final Dividend for the Year Ended December 31, 2024West China Cement Limited at the AGM held on 23 May 2025 approved to declared a final dividend of RMB 0.034 per ordinary share for the year ended 31 December 2024 to the shareholders of the Company which shall be paid out of the distributable reserve of the Company.공시 • Mar 25West China Cement Limited, Annual General Meeting, May 23, 2025West China Cement Limited, Annual General Meeting, May 23, 2025.공시 • Mar 24+ 1 more updateWest China Cement Limited Announces Executive Appointments, Change in Composition of Board CommitteeThe board of directors of West China Cement Limited announced that Mr. Lau Ka Keung has been appointed as an independent non-executive Director and a member of the audit committee of the Company with effect from 24 March 2025. The biographical details of Mr. Lau are set out below: Mr. Lau Ka Keung, BBS, MH, JP, aged 49, received his bachelor's degree in information technology from Manchester Metropolitan University, the United Kingdom in July 1997 and obtained his master's degree in business administration from University of Leicester, the United Kingdom in July 2008. Mr. Lau possesses more than 20 years of experience in business management. From August 2015 to April 2018, he served as a non-executive director at Nameson Holdings Limited, a company listed on the Main Board of The Stock Exchange of Hong Kong Limited. Since August 2016, Mr. Lau has been serving as an executive director and the chief executive officer of Million Cities Holdings Limited, a company listed on the Main Board of the Stock Exchange (Stock Code: 2892). In addition, he has been an independent non-executive directors of two other companies listed on the Main Board of the Stock Exchange: OrbusNeich Medical Group Holdings Limited (stock code: 6929) since September 2021 and Tianjin Development Holdings Limited (stock code: 882) since March 2023. In public service, Mr. Lau is currently a delegate of the Hong Kong Special Administrative Region to the 14th National People's Congress of the People's Republic of China, a member of the 13th National Committee of the Chinese People's Political Consultative Conference, the Chairman of the 28th Hong Kong United Youth Association and the Vice Chairman of Joint Committee for the Promotion of the Basic Law of Hong Kong . The Board has designated Mr. Lee Kong Wai, Conway, an independent non-executive Director, to assume the position of the lead independent non-executive Director (Lead INED) with effect from 24 March 2025. Lead INED is not an executive position in the Company and does not have any management role in the Group. Mr. Lee's other positions at the Board and the relevant Board committees remain unchanged. The Board has appointed Ms. Wang Rui as an additional member of the nomination committee of the Company with effect from 24 March 2025.공시 • Mar 13West China Cement Limited to Report Fiscal Year 2024 Results on Mar 24, 2025West China Cement Limited announced that they will report fiscal year 2024 results on Mar 24, 2025Valuation Update With 7 Day Price Move • Sep 30Investor sentiment improves as stock rises 16%After last week's 16% share price gain to HK$1.02, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 10x in the Basic Materials industry in Hong Kong. Total loss to shareholders of 29% over the past three years.Reported Earnings • Aug 22First half 2024 earnings released: EPS: CN¥0.071 (vs CN¥0.098 in 1H 2023)First half 2024 results: EPS: CN¥0.071 (down from CN¥0.098 in 1H 2023). Revenue: CN¥3.70b (down 16% from 1H 2023). Net income: CN¥386.9m (down 27% from 1H 2023). Profit margin: 11% (down from 12% in 1H 2023). Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Basic Materials industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.공시 • Aug 07West China Cement Limited to Report First Half, 2024 Results on Aug 19, 2024West China Cement Limited announced that they will report first half, 2024 results on Aug 19, 2024공시 • May 26West China Cement Limited Approves Final Dividend for the Year Ended 31 December 2023West China Cement Limited at its AGM held on 24 May 2024, approved final dividend of RMB 0.023 per ordinary share for the year ended 31 December 2023 to the shareholders of the Company which shall be paid out of the distributable reserve of the Company.Upcoming Dividend • May 22Upcoming dividend of CN¥0.023 per shareEligible shareholders must have bought the stock before 29 May 2024. Payment date: 31 July 2024. Payout ratio is a comfortable 30% but the company is not cash flow positive. Trailing yield: 2.1%. Lower than top quartile of Hong Kong dividend payers (7.4%). Lower than average of industry peers (4.9%).Reported Earnings • Apr 20Full year 2023 earnings released: EPS: CN¥0.077 (vs CN¥0.22 in FY 2022)Full year 2023 results: EPS: CN¥0.077 (down from CN¥0.22 in FY 2022). Revenue: CN¥9.02b (up 6.3% from FY 2022). Net income: CN¥421.3m (down 65% from FY 2022). Profit margin: 4.7% (down from 14% in FY 2022). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Basic Materials industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings.공시 • Apr 17West China Cement Limited Announces Directorate ChangesThe board of directors of West China Cement Limited announced that, with effect from 16 April 2024: Mr. Wang Fayin has tendered his resignation as an executive Director of the Company due to adjustment in work arrangements with effective from 16 April 2024. Ms. Wang Rui has been appointed as an executive Director with effect from 16 April 2024. The biographical details of Ms. Wang are set out below: Ms. Wang, aged 45, is the vice chair and Party secretary of the general branch of Yaobai Special Cement Group Co. Ltd. She has held the position since January 2023 and is primarily responsible for overseeing the market management, procurement, logistics, and other operations of the Yaobai Group. Ms. Wang obtained a master's degree in business administration from the University of Management and Technology in June 2018. She joined the Group in December 1998 and held several positions, including: (i) manager of general administration of Pucheng Yaobai Special Cement Co. Ltd. () from December 1998 to December 2006; (ii) assistant general manager of Xi'an Lantian Yaobai Cement Co. Ltd. from January 2007 to August 2008; (iii) assistant general manager of Xi'an Yaobai Material Co. Ltd. from January 2007 to August 2008; (iv) chief administration officer of Yaobai Group from July 2009 to June 2010; (v) deputy general manager of sales department of Yaobai Group from July 2010 to September 2010; (vi) general manager of Yaobai Material from October 2010 to January 2015; (vii) vice president of Yaobai Group from January 2018 to December 2019; and (viii) the chief executive officer of the Yaobai Group from January 2020 to December 2022. She has won several rewards, such as being recognized as a High- level Talent in Xi'an, Outstanding Communist Party Member of the Ministry of Industry and Information of Shaanxi Province, and Outstanding Entrepreneur of National Building Material Industry.Recent Insider Transactions • Apr 16CEO & Executive Director recently sold HK$1.3m worth of stockOn the 12th of April, Jianshun Cao sold around 1m shares on-market at roughly HK$1.09 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Jianshun's only on-market trade for the last 12 months.공시 • Mar 21West China Cement Limited Proposes Final Dividend for the Year Ended December 31, 2023, Payable on 31 July 2024West China Cement Limited proposed final dividend of RMB 0.023 per share for the year ended December 31, 2023 at AGM to be held on 24 May 2024. Ex-dividend date: 29 May 2024. Record date 04 June 2024. Payment date 31 July 2024.공시 • Mar 19West China Cement Limited, Annual General Meeting, May 24, 2024West China Cement Limited, Annual General Meeting, May 24, 2024.Reported Earnings • Mar 19Full year 2023 earnings released: EPS: CN¥0.077 (vs CN¥0.22 in FY 2022)Full year 2023 results: EPS: CN¥0.077 (down from CN¥0.22 in FY 2022). Revenue: CN¥9.02b (up 6.3% from FY 2022). Net income: CN¥421.3m (down 65% from FY 2022). Profit margin: 4.7% (down from 14% in FY 2022). Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Basic Materials industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings.공시 • Mar 08West China Cement Limited to Report Fiscal Year 2023 Results on Mar 18, 2024West China Cement Limited announced that they will report fiscal year 2023 results on Mar 18, 2024Valuation Update With 7 Day Price Move • Mar 04Investor sentiment improves as stock rises 36%After last week's 36% share price gain to HK$1.03, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 7x in the Basic Materials industry in Hong Kong. Total loss to shareholders of 8.4% over the past three years.공시 • Jan 10West China Cement Limited Announces Board ChangesThe board of directors of West China Cement Limited announced that, with effect from 10 January 2024: Mr. Fan Changhong (Mr. Fan) has resigned as a non-executive director due to adjustment of work arrangements. Mr. Wang Zhixin (Mr. Wang') has been appointed as a non-executive Director. Mr. Wang, aged 50, graduated with a bachelor's degree in inorganic non-metallic materials from Wuhan University of Technology in June 2014. Mr. Wang has extensive experience in cement production management and external communication. From June 2004 to July 2014, he held various key positions at Anhui Huaining Conch Cement Co. Ltd., including (i) assistant to the factory director of the manufacturing branch from June 2004 to January 2006; (ii) deputy factory director of the manufacturing branch from February 2006 to March 2008; (iii) factory director of the manufacturing branch from March 2008 to June 2009; (iv) assistant to general manager from June 2009 to February 2011; and (v) deputy general manager from February 2011 to July 2014. From July 2014 to August 2020, Mr. Wang held two positions in Baoji Zhongxi Jinlinghe Cement Co. Ltd., including (i) executive deputy general manager from July 2014 to December 2015; and (ii) general manager from December 2015 to August 2020. From August 2020 to April 2023, Mr. Wang served as deputy director of the Shaanxi-Gansu Regional Committee of Anhui Conch Cement Company Limited (the Conch Cement'), general manager of Pingliang Conch Cement Co. Ltd. and Secretary of the Party Committee and general manager of Hami Hongyi Building Materials Co. Ltd. Mr. Wang has been the executive president of Shaanxi-Gansu Region of Conch Cement since October 2021.Reported Earnings • Sep 23First half 2023 earnings released: EPS: CN¥0.098 (vs CN¥0.12 in 1H 2022)First half 2023 results: EPS: CN¥0.098 (down from CN¥0.12 in 1H 2022). Revenue: CN¥4.40b (up 5.9% from 1H 2022). Net income: CN¥532.2m (down 19% from 1H 2022). Profit margin: 12% (down from 16% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Basic Materials industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings.Board Change • Sep 15Less than half of directors are independentThere are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Non-Executive Director Tao Feng was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.이익 및 매출 성장 예측SHSC:2233 - 애널리스트 향후 추정치 및 과거 재무 데이터 (CNY Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수12/31/202814,2961,437N/AN/A212/31/202713,3461,4352,6104,643312/31/202610,9187661,4993,531212/31/20259,621880-1,1651,847N/A9/30/20259,841934-1,0281,568N/A6/30/202510,061988-8911,288N/A3/31/20259,203807-5321,666N/A12/31/20248,345626-1742,043N/A9/30/20248,335451-1492,491N/A6/30/20248,324276-1242,940N/A3/31/20248,673349-1622,820N/A12/31/20239,021421-2002,700N/A9/30/20238,878755-3932,487N/A6/30/20238,7351,089-5872,274N/A3/31/20238,6121,152-6792,204N/A12/31/20228,4891,215-7712,135N/A9/30/20228,2061,201-5862,105N/A6/30/20227,9221,187-4012,075N/A3/31/20227,9621,386-1,0022,017N/A12/31/20218,0031,585-1,6031,960N/A9/30/20218,1791,725-1,4142,372N/A6/30/20218,3551,864-1,2242,784N/A3/31/20217,7431,712-6482,733N/A12/31/20207,1311,560-712,682N/A9/30/20207,0381,660-832,317N/A6/30/20206,9461,760-951,951N/A3/31/20207,0961,7814702,323N/A12/31/20197,2471,8011,0362,695N/A9/30/20196,9341,554N/A2,841N/A6/30/20196,6201,306N/A2,987N/A3/31/20196,2661,233N/A2,745N/A12/31/20185,9121,159N/A2,503N/A9/30/20185,5811,149N/A2,377N/A6/30/20185,2501,139N/A2,251N/A3/31/20185,005925N/A2,010N/A12/31/20174,760711N/A1,770N/A9/30/20174,481526N/A1,601N/A6/30/20174,202342N/A1,433N/A3/31/20173,961176N/A1,373N/A12/31/20163,71910N/A1,313N/A9/30/20163,579-207N/A974N/A6/30/20163,439-425N/A635N/A3/31/20163,470-367N/A554N/A12/31/20153,501-309N/A474N/A9/30/20153,539-216N/A642N/A6/30/20153,577-122N/A810N/A더 보기애널리스트 향후 성장 전망수입 대 저축률: 2233 의 연간 예상 수익 증가율(20.5%)이 saving rate(3%)보다 높습니다.수익 vs 시장: 2233 의 연간 수익(20.5%)이 Hong Kong 시장(12.8%)보다 빠르게 성장할 것으로 예상됩니다.고성장 수익: 2233 의 수입은 향후 3년 동안 상당히 증가할 것으로 예상됩니다.수익 대 시장: 2233 의 수익(연간 13.8%)이 Hong Kong 시장(연간 8.9%)보다 빠르게 성장할 것으로 예상됩니다.고성장 매출: 2233 의 수익(연간 13.8%)은 연간 20%보다 느리게 증가할 것으로 예상됩니다.주당순이익 성장 예측향후 자기자본이익률미래 ROE: 2233의 자본 수익률은 3년 후 9.4%로 낮을 것으로 예상됩니다.성장 기업 찾아보기7D1Y7D1Y7D1YMaterials 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/06/21 14:58종가2026/06/18 00:00수익2025/12/31연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 세부 정보는 당사의 Github 페이지에서 확인하실 수 있으며, 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공하고 있습니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스West China Cement Limited는 14명의 분석가가 다루고 있습니다. 이 중 3명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Felix LamCCB International Securities LimitedKevin YouCGS InternationalFelix LamDaiwa Securities Co. Ltd.11명의 분석가 더 보기
Valuation Update With 7 Day Price Move • Jun 10Investor sentiment deteriorates as stock falls 23%After last week's 23% share price decline to HK$1.63, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 8x in the Basic Materials industry in Hong Kong. Total returns to shareholders of 20% over the past year.
New Risk • Jun 08New minor risk - Dividend sustainabilityThe dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 2.9% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results.
공시 • May 30West China Cement Limited Approves Final Dividend for the Year Ended 31 December 2025West China Cement Limited at the AGM held on 29 May 2026, approved to declare a final dividend of RMB 0.048 per ordinary share for the year ended 31 December 2025 to the shareholders of the Company which shall be paid out of the distributable reserve of the Company.
Board Change • May 20Less than half of directors are independentFollowing the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 7 non-independent directors. Independent Non-Executive Director Ka Keung Lau was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
공시 • Mar 24West China Cement Limited, Annual General Meeting, May 29, 2026West China Cement Limited, Annual General Meeting, May 29, 2026.
공시 • Mar 09West China Cement Limited to Report Fiscal Year 2025 Results on Mar 23, 2026West China Cement Limited announced that they will report fiscal year 2025 results on Mar 23, 2026
공시 • Aug 15West China Cement Limited to Report First Half, 2025 Results on Aug 25, 2025West China Cement Limited announced that they will report first half, 2025 results on Aug 25, 2025
공시 • May 23West China Cement Limited Approves Final Dividend for the Year Ended December 31, 2024West China Cement Limited at the AGM held on 23 May 2025 approved to declared a final dividend of RMB 0.034 per ordinary share for the year ended 31 December 2024 to the shareholders of the Company which shall be paid out of the distributable reserve of the Company.
공시 • Mar 25West China Cement Limited, Annual General Meeting, May 23, 2025West China Cement Limited, Annual General Meeting, May 23, 2025.
공시 • Mar 24+ 1 more updateWest China Cement Limited Announces Executive Appointments, Change in Composition of Board CommitteeThe board of directors of West China Cement Limited announced that Mr. Lau Ka Keung has been appointed as an independent non-executive Director and a member of the audit committee of the Company with effect from 24 March 2025. The biographical details of Mr. Lau are set out below: Mr. Lau Ka Keung, BBS, MH, JP, aged 49, received his bachelor's degree in information technology from Manchester Metropolitan University, the United Kingdom in July 1997 and obtained his master's degree in business administration from University of Leicester, the United Kingdom in July 2008. Mr. Lau possesses more than 20 years of experience in business management. From August 2015 to April 2018, he served as a non-executive director at Nameson Holdings Limited, a company listed on the Main Board of The Stock Exchange of Hong Kong Limited. Since August 2016, Mr. Lau has been serving as an executive director and the chief executive officer of Million Cities Holdings Limited, a company listed on the Main Board of the Stock Exchange (Stock Code: 2892). In addition, he has been an independent non-executive directors of two other companies listed on the Main Board of the Stock Exchange: OrbusNeich Medical Group Holdings Limited (stock code: 6929) since September 2021 and Tianjin Development Holdings Limited (stock code: 882) since March 2023. In public service, Mr. Lau is currently a delegate of the Hong Kong Special Administrative Region to the 14th National People's Congress of the People's Republic of China, a member of the 13th National Committee of the Chinese People's Political Consultative Conference, the Chairman of the 28th Hong Kong United Youth Association and the Vice Chairman of Joint Committee for the Promotion of the Basic Law of Hong Kong . The Board has designated Mr. Lee Kong Wai, Conway, an independent non-executive Director, to assume the position of the lead independent non-executive Director (Lead INED) with effect from 24 March 2025. Lead INED is not an executive position in the Company and does not have any management role in the Group. Mr. Lee's other positions at the Board and the relevant Board committees remain unchanged. The Board has appointed Ms. Wang Rui as an additional member of the nomination committee of the Company with effect from 24 March 2025.
공시 • Mar 13West China Cement Limited to Report Fiscal Year 2024 Results on Mar 24, 2025West China Cement Limited announced that they will report fiscal year 2024 results on Mar 24, 2025
Valuation Update With 7 Day Price Move • Sep 30Investor sentiment improves as stock rises 16%After last week's 16% share price gain to HK$1.02, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 10x in the Basic Materials industry in Hong Kong. Total loss to shareholders of 29% over the past three years.
Reported Earnings • Aug 22First half 2024 earnings released: EPS: CN¥0.071 (vs CN¥0.098 in 1H 2023)First half 2024 results: EPS: CN¥0.071 (down from CN¥0.098 in 1H 2023). Revenue: CN¥3.70b (down 16% from 1H 2023). Net income: CN¥386.9m (down 27% from 1H 2023). Profit margin: 11% (down from 12% in 1H 2023). Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Basic Materials industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.
공시 • Aug 07West China Cement Limited to Report First Half, 2024 Results on Aug 19, 2024West China Cement Limited announced that they will report first half, 2024 results on Aug 19, 2024
공시 • May 26West China Cement Limited Approves Final Dividend for the Year Ended 31 December 2023West China Cement Limited at its AGM held on 24 May 2024, approved final dividend of RMB 0.023 per ordinary share for the year ended 31 December 2023 to the shareholders of the Company which shall be paid out of the distributable reserve of the Company.
Upcoming Dividend • May 22Upcoming dividend of CN¥0.023 per shareEligible shareholders must have bought the stock before 29 May 2024. Payment date: 31 July 2024. Payout ratio is a comfortable 30% but the company is not cash flow positive. Trailing yield: 2.1%. Lower than top quartile of Hong Kong dividend payers (7.4%). Lower than average of industry peers (4.9%).
Reported Earnings • Apr 20Full year 2023 earnings released: EPS: CN¥0.077 (vs CN¥0.22 in FY 2022)Full year 2023 results: EPS: CN¥0.077 (down from CN¥0.22 in FY 2022). Revenue: CN¥9.02b (up 6.3% from FY 2022). Net income: CN¥421.3m (down 65% from FY 2022). Profit margin: 4.7% (down from 14% in FY 2022). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Basic Materials industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings.
공시 • Apr 17West China Cement Limited Announces Directorate ChangesThe board of directors of West China Cement Limited announced that, with effect from 16 April 2024: Mr. Wang Fayin has tendered his resignation as an executive Director of the Company due to adjustment in work arrangements with effective from 16 April 2024. Ms. Wang Rui has been appointed as an executive Director with effect from 16 April 2024. The biographical details of Ms. Wang are set out below: Ms. Wang, aged 45, is the vice chair and Party secretary of the general branch of Yaobai Special Cement Group Co. Ltd. She has held the position since January 2023 and is primarily responsible for overseeing the market management, procurement, logistics, and other operations of the Yaobai Group. Ms. Wang obtained a master's degree in business administration from the University of Management and Technology in June 2018. She joined the Group in December 1998 and held several positions, including: (i) manager of general administration of Pucheng Yaobai Special Cement Co. Ltd. () from December 1998 to December 2006; (ii) assistant general manager of Xi'an Lantian Yaobai Cement Co. Ltd. from January 2007 to August 2008; (iii) assistant general manager of Xi'an Yaobai Material Co. Ltd. from January 2007 to August 2008; (iv) chief administration officer of Yaobai Group from July 2009 to June 2010; (v) deputy general manager of sales department of Yaobai Group from July 2010 to September 2010; (vi) general manager of Yaobai Material from October 2010 to January 2015; (vii) vice president of Yaobai Group from January 2018 to December 2019; and (viii) the chief executive officer of the Yaobai Group from January 2020 to December 2022. She has won several rewards, such as being recognized as a High- level Talent in Xi'an, Outstanding Communist Party Member of the Ministry of Industry and Information of Shaanxi Province, and Outstanding Entrepreneur of National Building Material Industry.
Recent Insider Transactions • Apr 16CEO & Executive Director recently sold HK$1.3m worth of stockOn the 12th of April, Jianshun Cao sold around 1m shares on-market at roughly HK$1.09 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Jianshun's only on-market trade for the last 12 months.
공시 • Mar 21West China Cement Limited Proposes Final Dividend for the Year Ended December 31, 2023, Payable on 31 July 2024West China Cement Limited proposed final dividend of RMB 0.023 per share for the year ended December 31, 2023 at AGM to be held on 24 May 2024. Ex-dividend date: 29 May 2024. Record date 04 June 2024. Payment date 31 July 2024.
공시 • Mar 19West China Cement Limited, Annual General Meeting, May 24, 2024West China Cement Limited, Annual General Meeting, May 24, 2024.
Reported Earnings • Mar 19Full year 2023 earnings released: EPS: CN¥0.077 (vs CN¥0.22 in FY 2022)Full year 2023 results: EPS: CN¥0.077 (down from CN¥0.22 in FY 2022). Revenue: CN¥9.02b (up 6.3% from FY 2022). Net income: CN¥421.3m (down 65% from FY 2022). Profit margin: 4.7% (down from 14% in FY 2022). Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Basic Materials industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings.
공시 • Mar 08West China Cement Limited to Report Fiscal Year 2023 Results on Mar 18, 2024West China Cement Limited announced that they will report fiscal year 2023 results on Mar 18, 2024
Valuation Update With 7 Day Price Move • Mar 04Investor sentiment improves as stock rises 36%After last week's 36% share price gain to HK$1.03, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 7x in the Basic Materials industry in Hong Kong. Total loss to shareholders of 8.4% over the past three years.
공시 • Jan 10West China Cement Limited Announces Board ChangesThe board of directors of West China Cement Limited announced that, with effect from 10 January 2024: Mr. Fan Changhong (Mr. Fan) has resigned as a non-executive director due to adjustment of work arrangements. Mr. Wang Zhixin (Mr. Wang') has been appointed as a non-executive Director. Mr. Wang, aged 50, graduated with a bachelor's degree in inorganic non-metallic materials from Wuhan University of Technology in June 2014. Mr. Wang has extensive experience in cement production management and external communication. From June 2004 to July 2014, he held various key positions at Anhui Huaining Conch Cement Co. Ltd., including (i) assistant to the factory director of the manufacturing branch from June 2004 to January 2006; (ii) deputy factory director of the manufacturing branch from February 2006 to March 2008; (iii) factory director of the manufacturing branch from March 2008 to June 2009; (iv) assistant to general manager from June 2009 to February 2011; and (v) deputy general manager from February 2011 to July 2014. From July 2014 to August 2020, Mr. Wang held two positions in Baoji Zhongxi Jinlinghe Cement Co. Ltd., including (i) executive deputy general manager from July 2014 to December 2015; and (ii) general manager from December 2015 to August 2020. From August 2020 to April 2023, Mr. Wang served as deputy director of the Shaanxi-Gansu Regional Committee of Anhui Conch Cement Company Limited (the Conch Cement'), general manager of Pingliang Conch Cement Co. Ltd. and Secretary of the Party Committee and general manager of Hami Hongyi Building Materials Co. Ltd. Mr. Wang has been the executive president of Shaanxi-Gansu Region of Conch Cement since October 2021.
Reported Earnings • Sep 23First half 2023 earnings released: EPS: CN¥0.098 (vs CN¥0.12 in 1H 2022)First half 2023 results: EPS: CN¥0.098 (down from CN¥0.12 in 1H 2022). Revenue: CN¥4.40b (up 5.9% from 1H 2022). Net income: CN¥532.2m (down 19% from 1H 2022). Profit margin: 12% (down from 16% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Basic Materials industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings.
Board Change • Sep 15Less than half of directors are independentThere are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Non-Executive Director Tao Feng was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity.