Ningxia Building Materials: Net Profit in the First Half of the Year Is Expected to Decrease by 55% -70% over the Same Period Last Year

On July 13, Ningxia Building Materials Group Co., Ltd. (Hereinafter referred to as the "Company") issued a performance forecast for the half year of 2023. The net profit attributable to the shareholders of the listed company for the half year of 2023 is expected to be 115 million to 173 million yuan, a decrease of 55% to 70% compared with the same period last year. The Company's net profit attributable to the shareholders of the listed company after deducting non-recurring gains and losses in the first half of 2023 is estimated to be RMB102 million to RMB160 million, representing a year-on-year decrease of 57% to 73%. According to China Cement Network, in the first half of last year, Ningxia Building Materials realized business income of 3.487 billion yuan and net profit of 384 million yuan attributable to shareholders of listed companies. The main reason for the performance reduction in the

current period is that Ningxia Building Materials said that in the first half of 2023, the sales price of the company's main products declined year-on-year, and the unit cost declined, but failed to compensate for the adverse impact of the price decline, resulting in the company's performance decline in the current period.