SHA:600585

Anhui Conch Cement's Board Approves Share Buyback Plan

Anhui Conch Cement (HKG:0914, SHA:600585) approved plans to repurchase mainland-listed and Hong Kong-listed shares, according to a Tuesday bourse filing.Hong Kong-listed shares of the cement company were up nearly 2% in Wednesday afternoon trade.The company plans to repurchase domestic shares worth between 600 million yuan and 1 billion yuan at no more than 27.71 yuan per share from May 29 to Aug. 25.Anhui Conch Cement also proposed a Hong Kong-share repurchase plan of up to HK$700 million, subject to shareholder approval at its annual general meeting on May 28.The company said the buybacks are intended to safeguard shareholder interests and boost investor confidence.

Anhui Conch Cement's Q1 Profit Slips 19%

Anhui Conch Cement (HKG:0914, SHA:600585) recorded a 19% decline in attributable profit in the first quarter of 2026 to 1.47 billion yuan from 1.81 billion yuan after adjustment a year prior, according to a Wednesday Hong Kong bourse filing.Earnings per share slipped to 0.28 yuan from 0.34 yuan in the corresponding period of the previous fiscal year.The cement company's revenue slipped 10% to 17.1 billion yuan from 19.1 billion yuan in the year-ago period.

Morgan Stanley Downgrades Anhui Conch Cement Company to Equalweight from Overweight; Price Target is HK$21.70