WESTCHINACEMENT (02233) saw its shares decline more than 4% in Hong Kong trading. At the time of writing, the stock was down 4.24% to HK$2.26, with a turnover of HK$42.91 million. The movement follows the company's recent earnings forecast, which projected an annual net profit between RMB 833 million and RMB 896 million, representing a year-on-year increase of 33% to 43%. However, analysis by financial firm Jefferies indicates that net profit for the second half of the year was only between RMB 85 million and RMB 148 million, significantly below market expectations. Jefferies attributed the underperformance primarily to one-off factors, the effects of which are not expected to recur in 2026. The company reported overseas sales volume of approximately 8 million tons last year, unchanged from the first half but doubling year-on-year, indicating no fundamental weakening in demand in its key African markets. The firm maintains that WESTCHINACEMENT's growth prospects in Africa remain intact. It believes the recent sharp share price drop presents an investment opportunity ahead of an expected earnings recovery in 2026, driven by sales realignment, growth in high-margin overseas operations, and the elimination of domestic profit drags.