---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/20452364.md"
description: "$China Tianrui Cement (01252)$First: After reviewing the financial report, other receivables suddenly increased to over 19 billion by the end of 2023, compared to only 5 billion in the interim report and 9 billion at the end of 2022.This means an increase of 10 billion, which might have been borrowed out. Whether the cash is still there is questionable...Second: It's a typical case of high debt, and the fundamentals of the cement industry are currently very poor. Moreover, the major shareholder underwent a company swap operation at the end of 2023...Third: There might have been broker margin calls, triggering a sell-off. Essentially, it's still a liquidity issue....Fourth: The current price of around 5 yuan is still not low enough compared to the previous high of over 8 yuan (considering other cement stocks have dropped by 90%). This might lead to some funds exiting at the close, but with insufficient buying support, the price could plummet, triggering broker margin call sell-offs.Finally, there might be some recovery after the resumption of trading, but it's not worth participating in."
datetime: "2024-04-10T00:53:11.000Z"
locales:
  - [en](https://longbridge.com/en/topics/20452364.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/20452364.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/20452364.md)
author: "[巨米有财](https://longbridge.com/en/profiles/7200506.md)"
---

# $China Tianrui Cement (01252)$First: After reviewi…


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