Summary by Moomoo AI
CNBM issued a profit warning, forecasting a pre-audit loss of about CNY 2 billion for the six months ended June 30, 2024. This marks a significant decline from the profit of about CNY 1.404 billion that the company recorded for the same period in 2023. The decline is mainly due to lower sales prices and volumes of the company's main products, such as cement, commodity concrete, and fiberglass, as well as a decrease in performance of associated companies, partially offset by cost reductions. The company reminds shareholders and potential investors to trade with caution. The interim results announcement is expected to be released before the end of August 2024. This warning is issued in accordance with Part XIV A of the Securities and Futures Ordinance and Rule 13.09(2)(a) of the Listing Rules in Hong Kong.
