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Hundreds of cement companies have joined the ranks of price increases, and the overall increase of cement stocks after the Spring Festival is far exceeding the market.
Recently, the cement market in many places has started a new wave of price increases. It is reported that from South China, East China to Southwest and Northwest regions, almost all mainstream cement companies in the country have entered the ranks of price increases. This round of price increases include domestic leading cement groups such as Conch, Taiwan Clay, China Materials, Tapai, Southern, Zhonglian, and Southwest, and hundreds of cement companies involved.
Major infrastructure projects have started concentratedly to drive the trend of cement price increase
Recently, the major brands of South China Guangdong region Conch Cement , China Resources Cement, Southern Cement, Taijing Cement, China Materials Tianshan, Tapai Cement, Hongfeng Cement, Shijing Cement, etc. have successively notified downstream customers that each brand of bulk cement has been increased by 30 yuan/ton from March 22 and packaging cement has been increased by 10 yuan/ton. Relevant market insiders said that the price of clinker in the region has risen recently, coupled with the Xijiang current limit, the amount of foreign cement entering has decreased.
According to incomplete statistics, in February, a total of 9,533 major and key projects were started across the country, with a total investment of 6.52 trillion yuan. The number of projects started increased by 65.8% month-on-month compared with January, and the investment amount increased by 125.6% month-on-month and 658.6% year-on-year. Since March, more major projects have been started in various places.
As of now, more than 20 provinces and cities have announced the list of key construction projects this year, with a total scale of nearly 30 trillion yuan. Industry insiders pointed out that the construction of major projects is an important tool to stabilize investment, adjust structure, and benefit people's livelihood, and is becoming a strong engine and hard support for local high-quality development. But on the other hand, with the hot start of various projects, the demand for raw materials has increased in a concentrated manner, which has also led to the upstream raw material market. The industry expects that the launch of the demand side of will help boost raw material prices in some regions, and cement, clinker, building materials, etc. will usher in a new round of price increases.
As global oil prices continue to rise, domestic commodities have continued to rise since the second half of last year, and a crisis of rising raw materials prices caused by excessive liquidity and supply-side structural changes has begun to sweep the whole country. In recent times, upstream listed raw material companies have announced price increases, and companies sandwiched between upstream and consumers are trying to find various ways to break through the problem of the crazy rise in raw materials. Industry analysts say there will be a rebound in the first half of the year and there may be a certain decline in the second half of the year.
More than half of cement stocks have a price-earnings ratio of less than 10 times
Cement is an important material in the building materials industry. In the A-share market, 18 companies' main business is cement. According to statistics from Databao, as of the close of March 24, the overall A-share market value of cement stocks was 402.265 billion yuan. Conch Cement is the industry leader, with a market value of A-shares reaching more than 200 billion yuan. As of the end of the first half of 2020, the Group had a clinker production capacity of 259 million tons, a cement production capacity of 366 million tons, aggregation production capacity of 56.8 million tons, and a commercial concrete production capacity of 3 million cubic meters.
Huaxin Cement has an overall production capacity of nearly 100 million tons/year, cement equipment manufacturing 50,000 tons/year, commercial concrete 22.35 million cubic meters/year, aggregate 49 million tons/year, comprehensive environmentally friendly wall materials 120 million pieces/year, mortar production capacity 300,000 tons/year, cement packaging bags/year, and waste disposal of 5.7 million tons/year (including under construction).
The overall trend of cement stocks since the Spring Festival is remarkable. Data shows that the average increase of cement stocks after the holiday reached 8.21%, 16 percentage points higher than the Shanghai Composite Index. Qingsong Construction Chemical, Tianshan Co., Ltd., Fujian Cement, Huaxin Cement, and Ningxia Building Materials have a cumulative increase of more than 10%. Qingsong Jianhua ranked first with a cumulative increase of 15.63%. The stock has released its 2020 annual report data, achieving a profit of 252 million yuan last year, a year-on-year increase of 14.46%.
In addition to Qingsong Construction Chemical, there are also Bowen Technology, Ningxia Building Materials , Qilianshan, Jidong Cement, Conch Cement , Tapai Group, etc. that have announced annual reports, express reports or performance forecast data and expected net profit to increase. The industry leader Conch Cement achieved a profit of 35.13 billion yuan in 2020, a year-on-year increase of 4.58%.
From the perspective of valuation level, cement stocks' price-earnings ratio is generally low.Data shows that the rolling price-to-earnings ratio of 10 cement stocks is less than 10 times, accounting for more than half, including Shangfeng Cement , Wannianqing, Ningxia Building Materials , Jidong Cement, Jianfeng Group, etc. The lowest price-to-earnings ratio of Shangfeng Cement is 7.07 times. Shangfeng Cement 5 During a survey at the reception agency on March 23, the company's cement kiln collaborative disposal project in Anhui and Ningxia solved the problem of urban waste discharge by treating industrial solid waste, hazardous waste and domestic waste, and digested a large amount of waste waste in the form of "eat dry and squeezed out", making a certain contribution to reducing carbon emissions.
Statement: All information content of Databao does not constitute investment advice. The stock market is risky, so be cautious when investing.
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data treasure (shujubao2015): Securities Times Intelligent Original Innovation Media.
