Changes in Hong Kong stocks | Western Cement (02233) rose nearly 4% in early trading, Ethiopian cement prices picked up, and the company's overseas business began to contribute to profits

The Zhitong Finance App learned that Western Cement (02233) rose nearly 4% in early trading. As of press release, it rose 3.13% to HK$1.81, with a turnover of HK$8.9917 million.

Cathay Pacific Haitong Securities pointed out that since the impact of the foreign exchange reform, the Ethiopian exchange rate has remained stable for nearly a year, providing good conditions for corporate profits. The price of cement in Ethiopia has continued to rise since this year. The national cement market price was about 117 US dollars/ton in March, 127 US dollars/ton in June, and 150 US dollars/ton in September. The bank also pointed out that cement prices in Uganda are still strong and are concerned about exchange rate fluctuations; cement prices in Uzbekistan are expected to rise steadily.

According to the Western Cement Interim Report, sales volume in the Chinese market fell 22.6% to 5.15 million tons in the first half of the year, while sales in overseas markets increased 29.3% to 5.39 million tons. According to the company, investment in the international market is beginning to pay off, and in particular, the business in sub-Saharan Africa and Central Asia continues to contribute significant profits to the company. The company expects to continue to seek growth opportunities in emerging markets in the future.