On August 9, China Building Materials Co., Ltd. issued a voluntary announcement to postpone the implementation of its commitment to Ningxia Building Materials Group Co., Ltd. and Tianshan Materials Co., Ltd. to avoid competition in the same industry.
According to the Announcement, CNBM made an undertaking to Ningxia Building Materials and Tianshan Shares in December 2017 to avoid horizontal competition, which shall be resolved within three years from the date of issuance of the letter of undertaking.
Prior to this, the commitment has been extended twice: on December 1, 2020, it was extended to Ningxia Building Materials for three years, and on August 9, 2024, it was extended to the two companies for two years. The relevant extensions were approved by the respective board of directors and shareholders' meeting. In
August 2026, CNBM sent the latest extension letters to Ningxia Building Materials and Tianshan Stock respectively, intending to extend the commitment for another two years, starting from the date when the shareholders'meeting of the undertaking company considered and approved the extension. Other contents of the 2017 Commitment Letter remain unchanged. In the announcement,
China Building Materials said that since making its commitment, it has been committed to fulfilling its commitment and actively seeking feasible solutions, but the business integration plan of the basic building materials sector should be steadily promoted under the principle of being conducive to the development of listed companies and protecting the interests of public shareholders.
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