Recently, China National Building Material Company Limited issued a profit warning. The Company wishes to inform the shareholders of the Company and potential investors that, upon preliminary review of the relevant financial statements of the Group, The Group's unaudited profit attributable to equity holders for the twelve months ended 31 December 2022 is expected to decrease by approximately 50% as compared to the corresponding period in 2021.
The above-mentioned expected decrease was mainly due to the decrease in the sales volume of cement, commercial concrete, gypsum board and glass fibre, the decrease in the sales volume and price of cement and commercial concrete, the increase in unit cost of sales of cement as a result of the increase in coal price, and the significant decrease in the fair value of the Group's financial assets recognized at fair value through profit or loss. This was partially offset by an increase in gain on disposal of assets. The 2022 Annual Results Announcement is
expected to be published before the end of March 2023.
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