Why has conch been falling continuously recently?
1 The cost increases and the income is limited.
Conch 20 19-202 1 achieved revenue of15703 billion yuan, 176243 billion yuan and 3444 1000 billion yuan respectively in the first quarter, up by 22.30% and/kloc-0 respectively. In the first quarter of 20021here, the growth rate of conch revenue was relatively high, mainly in the first quarter of 2020. Due to public health incidents, conch's income is relatively small.
In this period, the operating costs of Conch were 65.438+00.476 billion yuan, 65.438+02.484 billion yuan and 256.5438+93 billion yuan respectively, with year-on-year increases of 28.97%, 65.438+09.17% and 66.84%, both higher than its revenue.
In terms of cost, the cost of coal and electricity accounts for a relatively high proportion in the clinker production cost. With the new environmental protection policies, such as double carbon target, put forward new requirements for energy conservation and emission reduction, Conch needs to increase investment in energy conservation and environmental protection. Therefore, although Conch has made some achievements in reducing sales expenses and management expenses, there is still a great demand for funds in raw materials and environmental protection work.
(Source: Snowball, as of 202 1.07. 19)
2 slow demand, industry inflection point
Judging from the market demand of cement, many investors sought after it before real estate investment, so the construction of real estate projects is in full swing, coupled with various infrastructure projects, the demand for cement is increasing day by day. However, in recent years, the signal of no real estate speculation has become more and more obvious, various regulatory policies have been introduced, real estate tends to ease, and the growth pace of infrastructure real estate has slowed down. Therefore, the explosive growth of the cement industry is unlikely.
However, although the demand for cement is not as good as in the past, the basic infrastructure is still there. If Conch can give full play to its leading edge and has advantages in energy saving and emission reduction, as well as product upgrading, in the long run, the profit stability is guaranteed. In addition, from the perspective of overseas markets, this is also a major breakthrough.
3 main funds retreat
At present, conch is mainly sold, and foreign capital and institutions sell a lot. The main funds continue to sell in Conch, losing financial support, and the share price naturally continues to fall, which is also the main external cause of Conch's weak share price.
In short, the stock price is not only affected by the whole industry and the company's operation, but also by the psychological factors of investors. None of the above views constitute any investment advice. What do you think of the future development of conch? Welcome everyone to discuss together.