CNBM (HKEX: 03323) has released an announcement regarding its financial performance.
The group expects to report an unaudited attributable loss of approximately RMB 890 million for the six months ending June 30, 2026.
This contrasts with an attributable profit of about RMB 1.36 billion for the corresponding period ending June 30, 2025.
The primary reasons for this anticipated decline are lower selling prices for the group's key products, including cement, commercial concrete, and aggregates.
Additionally, sales volumes for commercial concrete and plasterboard have decreased.
The group has also seen an increase in impairment provisions for property, plant, equipment, and goodwill.
Furthermore, there has been a rise in net losses from changes in the fair value of financial assets recognized in the profit and loss account.
These negative factors were partially offset by several positive developments.
These include higher selling prices for glass fiber and electronic cloth, a reduction in the cost of sales for cement and commercial concrete, and increased sales volumes for electronic cloth and lithium battery separators.
However, the new materials business segment, which showed profit growth, holds a relatively low proportion of the group's shareholding.
Consequently, its positive contribution was insufficient to fully counterbalance the profit decline in the basic building materials segment, where the group holds a higher stake.
Comments