China National Building Material Co., Ltd. issued a profit warning! Profits are expected to fall by about 70% year-on-year in the first three quarters.

China National Building Material Co., Ltd. issued a profit warning on October 16, announcing that after a preliminary review of the relevant financial statements prepared by the company and its subsidiaries in accordance with the Chinese Accounting Standards, it is expected that the unaudited profit attributable to equity holders of the group for the nine months ending September 30, 2023 will decrease by about 70% compared with the same period in 2022.

The aforesaid expected decrease was mainly due to the decrease in selling prices of the Group's major products, namely cement, commercial concrete and glass fibre, the decrease in sales volume of cement and commercial concrete, the decrease in share of results of associates, and the decrease in gains on disposal of assets, but was partially offset by the decrease in cost of sales of cement and commercial concrete. And offset by the decrease in net loss from changes in fair value of the Group's financial assets recognised at fair value through profit or loss. According to

the data, the total operating income of China Building Materials Co., Ltd. in the first three quarters of 2022 was 171.331 billion yuan, and the net profit attributable to the owner of the parent company was 6.989 billion yuan.