China Resources Building Materials Technology: The annual profit attributable to shareholders is expected to decrease by about 58% to 67% year-on-year.

2024-01-22 10:15:35

Profit attributable to owners of the Company for the year ending 31 December 2023 is expected to decrease by approximately 58% to 67% as compared to the year ending 31 December 2022.

CR Building Material Technology announced that the profit attributable to owners of the Company for the year ending 31 December 2023 is expected to decrease by approximately 58% to 67% as compared with the year ending 31 December 2022, mainly due to the decrease in the sales price of the Group's products in 2023 as compared with 2022; The sales volume of the Group's products in 2023 was lower than that in 2022; a one-off gain of HK $239.1 million was recorded from the disposal of a subsidiary in 2022.

It is understood that in 2022, the turnover of China Resources Building Materials Technology is about 32.219 billion Hong Kong dollars, and the profit attributable to the owners of the company is about 1.936 billion Hong Kong dollars.

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Ma Weiping said that the demand for cement will continue to decline in the future, the market capacity will continue to compress, and the number of enterprises is bound to decrease. Cement industry must strengthen industry self-discipline, strengthen enterprise cooperation, large enterprises should stress the pattern, small and medium-sized enterprises should stress integrity. At the same time, enterprises should adhere to the blade introversion, constantly reduce costs and increase efficiency, control costs and win strategic initiative. Effectively control the supply, jointly shut down the kiln and limit production, and maintain reasonable profits.