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<Research>Guotai Haitong Initiates Coverage on WESTCHINACEMENT w/ Rating Overweight & TP HKD3.73; Commitment to Overseas Expansion Unwavering
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Guotai Haitong has published a report initiating coverage on WESTCHINACEMENT (02233.HK) with an Overweight rating and a target price of HKD3.73.

In the broker's estimate, WESTCHINACEMENT's 2025-27 net profits will reach RMB1.143 billion/ RMB1.422 billion/ RMB2.015 billion, with EPS of RMB0.21/ RMB0.26/ RMB 0.37.

WESTCHINACEMENT began its overseas strategy in 2020, with its first production line established in Mozambique. It has since expanded at a pace of entering one new country per year.

By the end of 2024, WESTCHINACEMENT had operations in Mozambique, the Democratic Republic of the Congo, Ethiopia, and Uzbekistan, showing Guotai Haitong its perseverant commitment to overseas expansion with timely execution and rapid progress.
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