CR Building Material Technology: Profit attributable to owners in 2024 is expected to decrease by approximately 62% to 72% year-on-year

On the evening of February

13, China Resources Building Materials Technology announced that the company's attributable earnings for the year ending December 31, 2024 are expected to decrease by about 62% to 72% compared with the year ending December 31, 2023. This was mainly due to: (1) a decrease in the gross profit margin of the Group's non-cement and concrete businesses in 2024 as compared to 2023; (2) a one-off gain on disposal of a subsidiary of RMB163.6 million in 2023; and (3) an impairment loss in 2024.

Data show that in 2023, the revenue of Huarun building materials technology was 25 billion 550 million yuan, and the net profit was 644 million yuan.