CNBM Shares Drop Nearly 4% as Cement and Concrete Volumes and Prices Fall, Company Expects a RMB 760 Million Loss for the First Three Quarters

Stock News10-15

CNBM (03323) fell nearly 4% during intraday trading, down 3.61% as of press time to HK$2.94, with turnover of HK$47.6999 million.

On the evening of October 14, CNBM issued a profit warning, expecting the group's unaudited loss attributable to equity holders for the nine months ended September 30, 2026 to be approximately RMB 760 million, compared with a profit attributable to equity holders of approximately RMB 2.96 billion in the same period last year.

The expected loss is mainly attributable to lower selling prices of major products including cement, ready-mixed concrete and aggregates, as well as declining sales volumes of cement, ready-mixed concrete and gypsum board, and increased asset impairment provisions of the group. These factors were partially offset by higher selling prices and lower selling costs of fiberglass, higher selling prices of electronic cloth, increased sales volumes of fiberglass, electronic cloth and lithium battery separators, and lower selling costs of cement and ready-mixed concrete.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment