CNBM expected the net profit attributable to shareholders to drop approximately 50% year-on-year in 2022


Updated 2023-03-03

Recently, China National Building Material Company Limited issued a profit warning that the company wishes to inform the shareholders of the Company and potential investors that after a preliminary review of the relevant financial statements of the Group, it is expected that the Group's unaudited profit attributable to equity holders for the 12 months ended 31 December 2022 will decrease by approximately 50% compared with the corresponding period last year.

The above expected decrease was mainly due to the decrease in sales volume of the Group's major products which are cement, commercial concrete, gypsum board and glass fiber, the decrease in sales price of cement and commercial concrete, the increase in unit cost of sales of cement due to the increase in coal price, and the significant decrease in the fair value of the Group's financial assets recognized at fair value in the profit and loss account, but partially offset by the increase in gain on disposal of assets.

The 2022 annual performance announcement is expected to be issued by the end of March 2023.

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