The net loss of Shanshui Cement in the first half of the year was about 215-239 million yuan.

On July 19, Shanshui Cement issued another profit warning, based on the preliminary assessment of the unaudited consolidated management accounts of the Group for the six months ended June 30, 2023, and based on the information currently available to the Company immediately prior to the publication of this announcement. The Group expects to record a net loss attributable to equity holders of the Company of approximately RMB 214654000 to RMB 238505000 for the six months ending 30 June 2023. The net profit attributable to the equity holders of the Company is RMB 477009000. The change in

results was mainly due to the significant decrease in the sales price of cement for the six months ended 30 June 2023 as compared to the corresponding period in 2022.