<Research>HSBC Global Research Ratings, TPs on CN Construction Materials (Table)

Written by Emily J. Thompson, Senior Investment Analyst

00323-1.64%

00347-0.54%

00914+0.17%

Source: aastocks

Updated: Jul 29 2025

0mins

Source: aastocks

Stock Performance Overview: Several Hong Kong stocks in the construction materials sector experienced declines, with Conch Cement and CR Building Material Technology dropping by 2.714% and 2.488%, respectively, while Maan Shan Iron saw a gain of 3.774%.
Short Selling Data: The short selling ratios varied across companies, with Conch Cement having the highest at 26.798%, while Angang Steel and CNBM also showed significant short selling activity, indicating varying investor sentiment in the market.

00323

$2.4+Infinity%1D

Analyst Views on 00323

Wall Street analysts forecast 00323 stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for 00323 is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

0 Analyst Rating

0 Buy

0 Hold

0 Sell

Current: 2.440

Low

Averages

High

Current: 2.440

Low

Averages

High

Goldman Sachs

Neutral

Sell

maintain

Al Analysis

2026-01-06

Reason

Goldman Sachs

Price Target

Al Analysis

2026-01-06

maintain

Neutral

Sell

Reason

The analyst rating from Goldman Sachs is influenced by several key factors regarding the outlook for Chinese commodities. The report indicates that China's commodity demand is expected to stabilize this year, with growth rates projected to range from -1.3% to 2%, gradually recovering in the second half of 2025. The stability in supply-demand fundamentals and a favorable macro environment are also noted. However, the future direction of prices and profit margins will largely depend on marginal changes in the supply outlook, which will be shaped by three main themes: supply discipline and response, anti-involution, and mergers & acquisitions (M&A) along with asset injections. For specific commodities, Goldman Sachs expresses a more optimistic outlook on cement and coal, while adopting a cautious stance on steel and aluminum. Their views on copper and gold remain positive, but they are cautious regarding lithium and paper packaging. This nuanced perspective on individual commodities informs the investment ratings, with some stocks being upgraded or downgraded based on these assessments.

UBS

Neutral -> Sell

downgrade

2025-11-17

Reason

UBS

Price Target

2025-11-17

downgrade

Neutral -> Sell

Reason

The analyst rating for MAANSHAN IRON was downgraded from Neutral to Sell by UBS despite an improvement in financial performance, including a net profit of RMB84 million and a rise in gross profit per ton of steel. The downgrade is likely due to concerns about the sustainability of this performance and the company's ability to maintain its competitive position in the market after previously underperforming for four years. The increase in the target price from HKD1.9 to HKD2.35 suggests a recognition of potential value, but the overall rating reflects caution regarding future prospects.

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About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.

<Research>HSBC Global Research Ratings, TPs on CN Construction Materials (Table)

Analyst Views on 00323

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