China cement

研报英文原文证据摘录

China cement

le to select stocks in Asia/Australia/NZ

12-month target – Expected share price *equivalent fully paid ordinary weighted average number of

in 12 months Note: expected return is reflective of a Medium Volatility shares

Valuation – The company's estimated stock and should be assumed to adjust proportionately

All Reported numbers for Australian/NZ listed stocks are fair value share price based on the disclosed with volatility risk

modelled under IFRS (International Financial Reporting valuation methodology

Standards). Note: Quant recommendations may differ

from Fundamental Analyst recommendations

Recommendation proportions for quarter ending 31 Mar 2026

AU/NZ Asia USA

Outperform 66.90% 69.32% 67.14% (for global coverage by Macquarie, 1.93% of stocks followed are investment banking clients)

Neutral 27.18% 17.21% 32.86% (for global coverage by Macquarie, 0.40% of stocks followed are investment banking clients)

Underperform 5.92% 13.47% 0.00% (for global coverage by Macquarie, 0.00% of stocks followed are investment banking clients)

Company-Specific Disclosures

Company Name Disclosure

CR Building Materials Macquarie Capital Limited makes a market in the securities in respect of China Resources Building Materials Technology Holdings

Technology (1313 HK) Ltd.

Neutral

12-month target:HK$1.80 - PER

Valuation: HKD 1.80 - PER

Price:HK$1.09

Anhui Conch Cement (600585 Macquarie Capital Limited makes a market in the securities of Anhui Conch Cement Co Ltd.

CH)

Outperform

12-month target:CNY30.10 - EV/EBITDA

Valuation: CNY 30.10 - EV/EBITDA

Price:CNY17.17

Anhui Conch Cement (914 HK) Macquarie Capital Limited makes a market in the securities of Anhui Conch Cement Co Ltd.

12-month target:HK$30.40 - EV/EBITDA

Valuation: HKD 30.40 - EV/EBITDA

Price:HK$17.06