SEHK:743Basic Materials
Asia Cement (China) Holdings (SEHK:743) Profit Squeeze Deepens After Swing To Loss
Asia Cement (China) Holdings went into this earnings print with the stock at HK$1.78, modestly up over the past month but still weaker over the past quarter. The headline from Q2 is not the top line; it is the profit squeeze. Management booked CNY1,271.1m in revenue yet still reported a net loss of CNY13.0m and a loss per share. For a heavy industrial like cement, where fixed costs are unforgiving, that shift into the red is what matters for a multi year view on margins and capacity...