China National Building Material (03323) opened nearly 5% lower. As of press time, it fell 4.92% to HKD 2.9, with a turnover of 26.68 million Hong Kong dollars.
According to the Zhongtong Financial News app, China National Building Material (03323) opened nearly 5%. As of press time, it fell 4.92% to HKD 2.9, with a turnover of 26.68 million Hong Kong dollars.
On the news front, China National Building Material issued a profit warning, expecting the unaudited net income attributable to equity holders of the group for the six months ended June 30, 2024 to be a loss of approximately RMB 2 billion, while the net profit for the same period last year was about RMB 1.404 billion. The expected decline is mainly due to the decrease in the sales prices of the group's main products cement, commodity concrete and fiberglass, the decrease in the sales volume of cement and commodity concrete, and the decrease in the performance of equity accounted investees, but this is partially offset by the decrease in sales costs of cement and commodity concrete.