香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因依賴該等內 容而引致的任何損失承擔任何責任。 香港，二零二五年八月五日 ( 於開曼群島註冊成立之有限公司 ) (股份代號 : 1313) 於本公告日期，本公司執行董事包括景世青先生及謝驥先生﹔本公司非執行董事包括朱平 先生、于舒天先生、周波先生及鄧荣輝先生﹔及本公司獨立非執行董事包括石禮謙先生、 吳錦華先生、顏碧蘭女士及鄧以海先生。 董事局會議召開日期 兹公告華潤建材科技控股有限公司（「本公司」）將於二零二五年八月十五日（星期五）舉 行董事局會議，旨在（其中包括）考慮及通過本公司及其附屬公司截至二零二五年六月三 十日止六個月之未經審核中期業績及其發佈，以及考慮及通過（如適用）宣派中期股息。 代表 華潤建材科技控股有限公司 景世青 主席 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 華潤建材科技控股有限公司 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01313 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | HKD | | 0.1 | HKD | | 1,000,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 10,000,000,000 | HKD | | 0.1 | HKD | | 1,000,000,000 | 本月 ...

Investment Rating - The report suggests a positive outlook for the industry, particularly in the context of rural road development and related materials [6][13]. Core Insights - The introduction of the "Rural Road Regulations" marks the first dedicated legislative framework for rural roads in China, aimed at enhancing rural infrastructure and supporting agricultural modernization [2][9]. - Rural road construction investment has consistently exceeded 400 billion yuan annually for the past eight years, with a total rural road mileage reaching 4.644 million kilometers by the end of 2024 [3][10]. - Key construction materials such as cement, concrete, and additives are expected to benefit from increased demand due to rural road projects, with optimistic estimates suggesting a potential increase in cement demand by 4 million tons [4][11]. - The report highlights a trend of decreasing cement prices, indicating a potential for industry recovery through supply-side reforms and capacity reductions [5][12]. Summary by Sections Legislative Framework - The "Rural Road Regulations" consist of 28 articles that establish a comprehensive system for rural road development, focusing on quality improvement, responsibility assignment, and safety enhancement [2][9]. Investment Trends - Continuous investment in rural road construction has been maintained at over 400 billion yuan, with plans for significant new and upgraded road mileage in the coming years [3][10]. Material Demand - The construction of rural roads is projected to significantly increase the demand for construction materials, particularly cement, with calculations suggesting a demand increase of approximately 2% relative to total production [4][11]. Market Dynamics - The cement industry is experiencing price declines, with a national average of 344 yuan per ton, prompting expectations for a positive impact from supply-side adjustments [5][12].

Group 1 - The Yarlung Tsangpo River downstream hydropower project is expected to bring an annual demand of 1-2 million tons of cement, benefiting leading cement companies in Tibet [1] - The project involves the construction of five stepped power stations with a total investment of approximately 1.2 trillion yuan, and the construction period is estimated to be around 20 years [1] - The cement market in Tibet has a high concentration ratio (CR3) of 70-80%, indicating a relatively favorable competitive landscape [1] Group 2 - The "anti-involution" policy has significant implications for the industry, with short-term production limitations relying on staggered kiln shutdowns, while medium-term capacity control will focus on limiting overproduction [2] - Leading companies are actively working to meet capacity indicators, with examples like Conch Cement transferring production lines to comply with replacement ratios [2] - The industry is expected to gradually eliminate outdated capacity through regional consolidation efforts by leading companies [2] Group 3 - The short-term fundamentals of the cement market remain under pressure, with a national average price of 344 yuan per ton as of mid-July, reflecting a decrease of 3 yuan [3] - Despite the pressure, the industry is expected to have limited downside potential in profitability, with a focus on the long-term improvements brought by the "anti-involution" policy [3] Group 4 - Recommended stocks include Huaxin Cement (600801.SH), Conch Cement (600585.SH), Shangfeng Cement (000672.SZ), and China Resources Cement Technology (01313), with additional attention to Tibet Tianlu (600326.SH) [4]

受益的行业非常多，这个要分短期和中长期，因为时间跨度很长，预期是10-15年，但按照中国的速 度，只要资金到位，10年内就完工并非不可能。 短期来看，最开始就是水泥建材这些先行一步，考虑到水泥有个运输半径问题，因此最大龙头是本地水 泥厂的西藏天路(600326.SH)，被巨量封住一字，再是离基地项目400公里的港股华新水泥(06655)，大涨 超85%。本地产能肯定是不够的，需要从其它地区引进，其它有华润建材科技(01313)、中国建材 (03323)、金隅集团(02009)、中国建材(03323)、海螺水泥(00914)均涨超10%。 【解剖大盘】 周末没啥利空，市场主要担心的无非是日本的参议院选举，最新情况是由自民党和公明党组成的执政联 盟丧失参议院过半数议席。但靴子落地后日元并未出现明显波动，市场预期石破茂依旧可以继续履行职 责，从而稳定局面。因此港股继续跳空上行，今天涨0.68%。 扰动市场的巨头内卷也开始收敛，7月18日，根据央视新闻，市场监管总局约谈饿了么、美团、京东三 家平台企业，号召理性参与竞争。美团-W(03690)、京东集团(09618)、阿里巴巴(09988)均涨幅超2%。 而爆炸性题材 ...

Group 1 - China's Q2 GDP growth reached 5.2%, exceeding expectations, leading to a rally in Hong Kong stocks [1] - The Hang Seng Technology Index surged by 2.8%, while the Hang Seng Index and the National Enterprises Index rose by 1.6% and 1.65% respectively [1][2] - Major technology stocks performed strongly, with Alibaba rising nearly 7%, Meituan and Baidu up over 4%, and Tencent increasing by 3.5% [2][4] Group 2 - The cryptocurrency sector faced challenges, with Bitcoin dropping below $117,000, leading to a decline in related stocks [2] - Real estate development investment in China fell by 11.2% year-on-year in the first half of the year, impacting domestic property stocks significantly [2][13] - The construction materials and cement stocks also saw declines, with major players like Jinyu Group and Anhui Conch Cement dropping over 6% and 4% respectively [11][12] Group 3 - The innovative drug sector showed strength, with companies like BeiGene and CSPC Pharmaceutical rising over 7% [7][8] - Stablecoin-related stocks performed well, with Yunfeng Financial increasing by 19.5% and Weishi Jiajie up by 11% [9][10] - The entertainment sector saw gains, with China Star Group rising over 10% and Tencent Music increasing by over 5% [15] Group 4 - Southbound funds recorded a net inflow of HKD 3.824 billion, indicating strong interest in Hong Kong stocks [18] - Analysts noted a shift in investor sentiment towards undervalued stocks, with some funds looking to capitalize on recent price corrections in major internet companies [17]

Group 1 - The Hong Kong construction materials and cement stocks experienced a volatile rise, with China National Building Material (03323.HK) increasing by over 8% [1] - Jinju Group (02009.HK) and Anhui Conch Cement (00914.HK) both rose by more than 3.5% [1] - China Resources Cement Technology (01313.HK) saw an increase of over 2.5% [1]

Investment Rating - Industry rating is maintained at "Outperform the Market" [5] Core Viewpoints - The recent reduction in tariffs is beneficial for the fiberglass industry, with a focus on structural opportunities in low dielectric and low expansion products [2][3][17] - In the week of May 10-16, the sales area of commercial housing in 30 major cities was 1.8952 million square meters, a year-on-year decrease of 10.34% [2][16] - The current tariff rate on fiberglass stands at 55%, which is a combination of previous tariffs and new measures, but the impact on the fiberglass industry is expected to be limited compared to earlier trade disputes [2][13] - The supply side is experiencing significant capacity increases, with an estimated actual capacity impact of approximately 930,000 tons in 2025 due to new production lines coming online [3][19] - The market demand for low dielectric and low expansion fiberglass is anticipated to grow, with expectations for the second generation of these products to continue the high demand trend [3][17] Summary by Sections Market Review - The Shanghai Composite Index rose by 1.12% while the construction materials sector fell by 0.15% during the past five trading days [11] - Notable stock performances included Zhongqi New Materials (+26.6%) and ST Sansheng (+11.5%) [11] Key Sub-Industry Tracking - Cement prices have continued to decline, with a decrease of 1.1% observed [19] - The fiberglass market is stabilizing, with prices for non-alkali yarn remaining steady, while the overall market is expected to trend weakly [19][20] Recommendations - Key recommended stocks include Zhongcai Technology, Sankeshu, Western Cement, Huaxin Cement, and China Resources Cement Technology [20][21] - The report emphasizes the long-term value of traditional building materials and the growth potential of new energy materials [20][21]

Investment Rating - The industry rating is maintained as "Outperform the Market" [5] Core Viewpoints - The construction materials sector is expected to gradually recover due to policy support and improving fundamentals, with a focus on opportunities in the civil explosives sector [2][3] - Recent data shows a 13.95% year-on-year increase in the sales area of commercial housing in 30 major cities, indicating a potential recovery in the real estate market [2][15] - The cement sector has experienced a recent price correction, primarily due to underwhelming price performance in April, but there is a consensus on maintaining ecological balance, which may lead to improved supply coordination [2][17] Summary by Sections Market Review - From May 6 to May 9, the CSI 300 index rose by 2.00%, while the construction materials sector (CITIC) increased by 2.83% [12] - Notable stock performances included Jingang Photovoltaic (+31.1%) and Haomei New Materials (+19.3%) [12] Recent Tracking of Key Sub-sectors - Cement: National cement market prices fell by 1.2% week-on-week, with average shipment rates around 48% [17] - Glass: The price of photovoltaic glass remained stable, while float glass prices decreased slightly [17] - Fiberglass: Prices for non-alkali yarn remained stable, with production capacity holding steady [18] Focus on Key Recommendations - Recommended stocks include China National Materials, Gaozheng Civil Explosives, Sankeshu, Western Cement, Huaxin Cement, and China Resources Cement Technology [4][18] - The civil explosives industry is expected to benefit from policies like the Western Development and the Belt and Road Initiative, with a projected increase in demand [3][18]

Company Overview - The company changed its name from China Resources Cement Holdings Limited to China Resources Building Materials Technology Holdings Limited on November 3, 2023[5]. - As of the report date, the total number of issued shares is 6,982,937,817, with China Resources Group holding approximately 68.72% of the issued shares[5]. - The company was re-listed on the main board of the Stock Exchange on October 6, 2009, by way of a global offering[4]. - The company was originally incorporated on March 13, 2003, in the Cayman Islands as an exempted company with limited liability[3]. - The company was privatized in 2006 and subsequently withdrew its shares from the Stock Exchange on July 26, 2006[4]. - The company operates in the cement, concrete, and aggregates sectors under the China Resources Group[3]. - The company has a significant presence in the Chinese market, focusing on building materials technology[5]. - The company aims to enhance its market position through strategic investments and technological advancements in the building materials sector[5]. - The company has established a strong governance structure with various committees overseeing strategic and operational decisions[9]. - The company maintains relationships with multiple principal bankers to support its financial operations[14]. Production Capacity and Operations - As of December 31, 2024, the Group operates 101 cement grinding lines with an annual production capacity of 90.2 million tons and 49 clinker production lines with a capacity of 63.3 million tons[27]. - The Group has 68 concrete batching plants with an annual production capacity of 44.2 million cubic meters[27]. - In Guangdong, the Group has 32 cement production lines with a capacity of 27.7 million tons, and 12 clinker production lines with a capacity of 15.5 million tons[28]. - In Guangxi, the Group operates 35 cement production lines with a capacity of 34.8 million tons and 19 clinker production lines with a capacity of 27.9 million tons[28]. - The Group's products are primarily used in infrastructure projects such as railways, highways, and airports, as well as high-rise buildings and rural development[26]. - The Group's operations cover key provinces including Guangdong, Guangxi, Fujian, Hainan, Yunnan, Guizhou, Shanxi, and Hunan[26]. - The concrete production capacity in Guangdong is 16.0 million cubic meters, while in Guangxi it is 19.6 million cubic meters[28]. - The Group's cement and clinker production capacities are strategically located to support regional infrastructure needs[26]. - The total production capacity for cement, clinker, and concrete across all facilities is 90.2 million tons, 63.3 million tons, and 44.2 million cubic meters respectively[28]. Financial Performance - The Group's consolidated turnover for the year ended December 31, 2024, was RMB 23,037.8 million, a decrease of 9.8% compared to the previous year[40]. - The consolidated profit attributable to owners of the Company for the year was RMB 210.9 million, representing a decrease of 67.2% from the previous year[40]. - Basic earnings per share for the year was RMB 0.030, down from RMB 0.092 in the previous year[40]. - The Group's total annual production capacities include 64.7 million tons of cement, 37.0 million tons of clinker, and 8.4 million m³ of concrete[31]. - The Group's attributable annual production capacities are 22.3 million tons of cement, 12.0 million tons of clinker, and 3.9 million m³ of concrete[31]. - The Group's gearing ratio improved to 34.6% from 36.9% in the previous year[35]. - Total assets as of December 31, 2024, were RMB 71,963.1 million, slightly down from RMB 72,792.2 million in the previous year[35]. Market and Economic Context - In 2024, China's GDP grew by 5.0% year-on-year to RMB134.9 trillion, while national fixed asset investment (excluding rural households) increased by 3.2% year-on-year to RMB51.4 trillion[46]. - The GDPs of key provinces where the Group operates showed year-on-year increases, with Guangdong at RMB14.2 trillion (3.5%), Guangxi at RMB2.9 trillion (4.2%), and Fujian at RMB5.8 trillion (5.5%)[47]. - In 2024, approximately RMB4.7 trillion of new local government bonds were issued, with RMB4.0 trillion being new special bonds, and national infrastructure investments increased by 4.4% year-on-year[50]. - The floor space of new commodity housing sold in China decreased by 12.9% year-on-year to 970 million m², with sales amounting to RMB9.7 trillion, a decrease of 17.1%[51]. - The total cement production in China in 2024 was approximately 1,830 million tons, representing a year-on-year decrease of 9.5%[55]. - The Group's operational regions saw varied fixed asset investment changes, with some provinces like Hunan showing a 5.3% increase while others like Guizhou saw a decrease of 7.7%[44]. - The railway fixed asset investment reached approximately RMB850.6 billion in 2024, marking an 11.3% year-on-year increase, the highest in five years[50]. Environmental and Social Responsibility - The Group emphasizes corporate social responsibility, focusing on energy saving, emission reduction, and the development of new products and technologies[32]. - The Chinese government aims for 50% of cement and clinker production capacity to complete ultra-low emission upgrades by the end of 2025, with a target of 80% by the end of 2028[63]. - The "2024–2025 Action Plan for Energy Saving and Carbon Reduction" sets specific goals for reducing energy consumption per unit of GDP and carbon emissions per unit of GDP in the building materials industry[67]. - The comprehensive energy consumption per unit product of cement and clinker is targeted to decrease by 3.7% compared to 2020 by the end of 2025[63]. - The Chinese government emphasizes the importance of production safety and occupational health to foster sustainable development in the building materials industry[60]. - The introduction of policies aims to promote green, low-carbon transformation and high-quality development in the cement industry[60]. - The Group is focusing on green and sustainable development, promoting energy conservation and emission reduction initiatives[83]. - The Group's project for producing low-carbon cement and concrete from waste rocks was recognized as reaching international advanced levels, with key technologies achieving international leading status[88]. - The Group was ranked 13th in the "China Listed Companies ESG Pioneer 100" list for the second consecutive year, with a five-star ESG performance rating[88]. Technological Innovation - The Group is actively promoting R&D of new products and technologies, including raw material roller press and energy-saving carbon reduction technologies in cement grinding[87]. - The Group's intelligent logistics system upgrade was completed at 16 production plants, enhancing operational efficiency and reducing hardware maintenance costs[165]. - The Group's digital transformation project for marketing models was fully launched across all business sectors, achieving a 100% coverage rate[164]. - The Group developed a carbon capture and utilization research platform with an annual CO2 capture capacity of 100,000 tons, aiming for carbon neutrality in the cement industry[168]. - The independently developed cement carbon reduction and grinding aid technology has been applied at 10 new production plants, reducing the cement clinker coefficient by 4%–6%[170]. - The Group's R&D team consists of 552 technology professionals, including 150 dedicated R&D personnel[167]. - The Group's collaboration with Fuzhou University led to the formulation of technical guidelines for wear-resistant and low-shrinkage pavement cement, enhancing its competitive advantage in the market[138]. Production and Cost Management - The Group implemented a strategy to systematically reduce production costs, resulting in a significant reduction in the costs of most products compared to the corresponding period last year and the budget[113]. - The Group's coal cost represents a significant cause for volatility in cement production costs, making coal price fluctuations a principal risk[105]. - The Group is actively promoting the use of alternative fuels to reduce standard coal consumption per ton of clinker products compared to 2023[115]. - In 2024, the Group established a cost reduction management system across the entire value chain, focusing on production, procurement, logistics, and workforce efficiency to restore the advantage of the lowest total costs[117]. - The Group's total coal procurement in 2024 was approximately 6.3 million tons, a decrease from 6.6 million tons in 2023, with 68% sourced from northern China, 9% from nearby production areas, and 23% from overseas[127]. - The average coal price purchased in 2024 was RMB802 per ton, a decrease of 13.7% from RMB929 per ton in 2023, while the average coal cost per ton of clinker produced decreased by 14.9% to RMB104.3 from RMB122.6 in 2023[191]. - The average electricity cost decreased by 7.1% to RMB28.8 per ton of cement, with electricity consumption at 68.3 kWh per ton, and the company achieved a cost saving of approximately RMB669.8 million in 2024[194]. - The Group's focus on "Deepening Reform, Born Anew" aims to enhance core competitiveness and promote the application of intelligent, green, and high-end technologies[98]. Employee and Operational Management - As of December 31, 2024, the Group employed a total of 17,030 full-time employees, a decrease from 17,939 in the previous year[173]. - The total staff costs for the year were approximately RMB 2,829,743,000, down from RMB 3,056,899,000 in 2023[177]. - The Group launched the "2024 Outstanding Engineers Practical Advancement Project," training a total of 64 outstanding engineers[172]. - The Group's project management included monthly meetings and risk assessments to expedite project processes and ensure compliance with safety standards[123]. Sales and Market Performance - In 2024, the external sales volume of cement products decreased by 7.6 million tons, concrete increased by 3.7 million m³, and aggregates increased by 23.8 million tons, representing a decrease of 10.9%, an increase of 39.6%, and an increase of 52.1% respectively compared to 2023[182]. - The average selling prices of cement products, concrete, and aggregates in 2024 were RMB243.7 per ton, RMB319.5 per m³, and RMB36.4 per ton, reflecting decreases of 10.6% and 12.9% for cement and concrete, while aggregates increased by 2.8% compared to 2023[184]. - The internal sales volume of cement for concrete production was 2.6 million tons, representing 4.2% of total cement sales, an increase from 2.7% in 2023[183]. - The gross profit margins for cement products, concrete, and aggregates in 2024 were 15.1%, 12.2%, and 35.1% respectively, compared to 11.7%, 11.9%, and 54.3% in 2023[199]. - The Group achieved a brand terminal coverage rate of 95.4% and customer satisfaction rate of 98.2% in 2024, maintaining a satisfaction rate of no less than 98% for two consecutive years[143].