Group 1: Company Strategy and Performance - In 2024, China National Building Material Group's "one body, two wings" strategy achieved new breakthroughs, with the waterproof business experiencing growth despite market challenges [1] - The company plans to continue transformation and innovation in 2025, focusing on marketing innovation and establishing a comprehensive research system [1] Group 2: ESG and Sustainability Initiatives - China National Building Material Group emphasizes "green," "low-carbon," and "ESG" as key themes, with subsidiaries like China Jushi actively promoting ESG ratings through initiatives like a zero-carbon manufacturing base [2] - China National Building Material International is committed to enabling the cement industry to achieve near-zero emissions through technological innovation and energy efficiency improvements [3] Group 3: Industry Consolidation and Restructuring - Ningxia Building Materials is exploring restructuring options to eliminate industry competition, with plans to develop a consolidation scheme that benefits the company and its shareholders [4] - Tianshan Cement has implemented "three precision management" strategies to optimize operations and reduce costs, achieving significant improvements in cost control since its restructuring [5]

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份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 海外監管公告 2025年面向專業投資者公開發行科技創新可續期公司債券（第二期）發行公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而作出。 承董事會命 中國建材股份有限公司 裴鴻雁 董事會秘書 （ 在 中 華 人 民 共 和 國 註 冊 成 立 的 成 員 責 任 有 限 的 股 份 有 限 公 司 ） 中國，北京 二零二五年四月三日 於本公告日期，本公司之董事會成員包括執行董事周育先先生、魏如山先生、王兵先生 及苗小玲女士，非執行董事王于猛先生、沈雲剛先生及陳紹龍先生，及獨立非執行董事 孫燕軍先生、劉劍文先生、周放生先生、李軍先生及夏雪女士。 * 僅供識別 中国建材股份有限公司 （住所：北京市海淀区复兴路 17 号国海广场 2 号楼（B 座）） 2025 年面向专业投资者公开发行科技创新可续期公司债券 （第二期） 发行公告 | 发行人 | 中国建材股份有限公司 | | --- | ...

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通告之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不就因本通告全部或任何部分內容 而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 茲通知中國建材股份有限公司（「本公司」）謹定於二零二五年四月二十五日（星期五）下午 三時正（或緊隨H股類別股東會結束後）假座中華人民共和國（「中國」）北京市海淀區復興路 17號國海廣場2號樓舉行內資股類別股東會（「內資股類別股東會」），藉以審議並酌情通過 下列決議案。除文義另有所指外，本通告專有詞彙與本公司日期為二零二五年四月一日 的通函（「通函」）所界定者具有相同涵義。 作為特別決議案 1. 審議及批准授予董事會於有關期間（定義見下文(c)段）回購H股的一般授權： 「動議 - 1 - (a) 根據市場情況及公司需要，回購不超過本決議案通過日期已發行H股10%的H 股； (b) 董事會獲授權作出（包括但不限於）以下各項： (i) 決定具體回購方案，包括但不限於回購價格、回購股份數目、回購時機及 回購期限等； 承董事會命 中國建材股份有限公司 周育先 董事長 中國•北京 內資股類別股東會通告 中國 北京巿 ...

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通告之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不就因本通告全部或任何部分內容 而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 H股類別股東會通告 茲通知中國建材股份有限公司（「本公司」）謹定於二零二五年四月二十五日（星期五）下午 二時三十分或緊隨股東週年大會結束後）假座中華人民共和國（「中國」）北京市海淀區復興 路17號國海廣場2號樓舉行H股類別股東會（「H股類別股東會」），藉以審議並酌情通過下 列決議案。除文義另有所指外，本通告專有詞彙與本公司日期為二零二五年四月一日的 通函（「通函」）所界定者具有相同涵義。 二零二五年四月一日 於本通告日期，本公司之董事會成員包括執行董事周育先先生、魏如山先生、王兵先生 及苗小玲女士，非執行董事王于猛先生、沈雲剛先生及陳紹龍先生，及獨立非執行董事 孫燕軍先生、劉劍文先生、周放生先生、李軍先生及夏雪女士。 - 2 - 作為特別決議案 (i) 審議及批准授予董事會於有關期間（定義見下文(c)段）回購H股的一般授權： 「動議 - 1 - (a) 根據市場情況及公司需要，回購不超過本決議案通過日期 ...

股東週年大會通告 茲通知中國建材股份有限公司（「本公司」）謹定於二零二五年四月二十五日（星期五）下午 二時正假座中華人民共和國（「中國」）北京市海淀區復興路17號國海廣場2號樓舉行股東週 年大會（「股東週年大會」），藉以審議及酌情通過下列決議案。除文義另有所指外，本通 告所用詞彙與本公司日期為二零二五年四月一日的通函（「通函」）所界定者具有相同涵 義。 作為普通決議案 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通告之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不就因本通告全部或任何部分內容 而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 - 1 - 1. 審議及批准截至二零二四年十二月三十一日止年度之董事會報告。 2. 審議及批准截至二零二四年十二月三十一日止年度之監事會報告。 3. 審議及批准截至二零二四年十二月三十一日止年度之核數師報告及本公司經審計財 務報表。 4. 審議及批准截至二零二四年十二月三十一日止年度之本公司利潤分配方案及末期股 息派發方案，並授權董事會向本公司股東派發該末期股息。 5. 審議及批准授權董事會全權酌情處理一切有關本公司派發二零二五年中期股息 ...

此乃要件 請即處理 閣下如對本通函任何方面或應採取的行動有任何疑問，應諮詢 閣下的持牌證券經紀、註冊證券機構、銀行、 銀行經理、律師、專業會計師或其他專業顧問。 閣下如已將名下的中國建材股份有限公司的股份全部售出或轉讓，應將本通函送交買主或受讓人或經手買賣或 轉讓的銀行、持牌證券經紀、註冊證券機構或其他代理商，以便轉交買主或受讓人。 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通函的內容概不負責，對其準確性或完整性不發表 任何聲明，並明確表示，概不對因本通函全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔 任何責任。 | + | | --- | | 配 | | 建 | | 材 | | 股 | | 份 | | 有 | | 限 | | 公 | | ㅋ | 3323 (1)發行股份的一般授權 (2)回購H股的一般授權 (3)建議發行債務融資工具 (4)建議末期股息分派計劃 (5)股東週年大會通告 (6)H股類別股東會通告 及 (7)內資股類別股東會通告 中國建材股份有限公司謹訂於二零二五年四月二十五日（星期五）下午二時正、下午二時三十分（或緊隨股東週 年大會結束後）及下午三時正（或緊隨H股類別股 ...

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之內容概不負責，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之全部或任何部分內容 而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 茲提述中國建材股份有限公司（「本公司」）日期為二零二五年一月二十七日之要約文件， 內容有關（其中包括）要約及清洗豁免（「要約文件」）、日期為二零二五年二月二十八日有 關債券持有人會議的海外監管公告（「海外監管公告」）及日期為二零二五年三月六日有關 債券持有人會議的海外監管公告。除文義另有所指外，本公告所用詞彙與要約文件及海 外監管公告所界定者具有相同涵義。 （ 在 中 華 人 民 共 和 國 註 冊 成 立 的 成 員 責 任 有 限 的 股 份 有 限 公 司 ） 海外監管公告 債券持有人會議通知 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而作出。 本公司已就要約進行了海外監管公告中所述的債券持有人會議及╱或適 用 程 序。 因 此， 本 公 司 於 二 零 二 五 年 四 月 一 日 於 上 海 證 券 交 易 所 網 站 （http://www.sse.com.cn/discl ...

3月24日至28日，郑商所主办的央企金融衍生业务培训班（第7期）在国务院国资委下属事业单位中国大 连经理学院举办，来自中石化、中建材、中粮集团等10余家中央企业，以及厦门国贸、物产中大、广东 天禾等10家地方国企的50余名业务骨干齐聚一堂，系统学习了金融衍生品业务监管政策、期货市场法治 化建设及风险防控实践等课程。据期货日报记者了解，该培训既是国务院国资委推动中央企业规范参与 金融衍生品市场的重要举措，也是期货市场持续深化服务国家战略、助力实体经济稳健发展的重要实 践。 监管体系升级 护航央企风险管理 近年来，随着全球大宗商品价格波动加剧，我国实体企业面临的市场风险敞口不断扩大。央企、国企作 为国民经济的重要支柱，其风险管理能力直接影响产业链供应链的稳定性。在此背景下，国务院国资委 自2020年起密集出台政策文件，构建覆盖业务准入、风险管控、合规操作的金融衍生业务监管框架。 培训首日，国务院国资委相关负责人系统梳理了我国金融衍生业务监管理念的演进历程，重点宣贯了 2020年《关于切实加强金融衍生业务管理有关事项的通知》（国资发财评规〔2020〕8号，下称8号文） 和2021年《关于进一步加强金融衍生业务管理有 ...

Investment Rating - The investment rating for the company is maintained as "Buy" with a target price of HKD 4.79 [8][9]. Core Views - The company reported a revenue of RMB 181.3 billion for 2024, a decrease of 13.8% year-on-year, and a net profit attributable to shareholders of RMB 2.39 billion, down 38.2% year-on-year. The decline in revenue is primarily due to the imbalance in supply and demand in the cement sector, although the new materials and engineering services segments continue to show growth momentum [1]. - The cement segment faced pressure with a total sales volume of 245 million tons in 2024, down 20.7% year-on-year, and an average price of RMB 250.6 per ton, down 7.7% year-on-year. However, since May 2024, there has been a positive trend in price recovery, with an estimated gross profit per ton of RMB 46, reflecting an increase of 8.0% quarter-on-quarter and 48.8% year-on-year [2]. - The new materials segment saw a mixed performance with sales increases in fiberglass, wind turbine blades, and lithium battery separators, while prices decreased significantly. The overall gross margin for this segment was 21.7%, down 3.2 percentage points year-on-year. Price recovery is expected to continue into 2025, improving profitability [3]. - The engineering segment showed stable performance with revenue of RMB 46.1 billion, a year-on-year increase of 0.7%. The international equipment orders have increased, helping to mitigate domestic demand pressures [4]. - The earnings forecast for 2025 has been adjusted upwards, with EPS estimates raised to RMB 0.55 for 2025 and RMB 0.68 for 2026. The target price has been increased by 18% to HKD 4.79, reflecting a 10% discount to the historical average P/E ratio [5]. Summary by Sections Financial Performance - For 2024, the company reported a revenue of RMB 181.3 billion, down 13.8% from 2023, and a net profit of RMB 2.39 billion, down 38.2% year-on-year. The projected revenue for 2025 is RMB 187.85 billion, reflecting a growth of 3.6% [7]. - The EPS for 2024 is projected at RMB 0.28, with a significant increase expected in 2025 to RMB 0.55 [7]. Market Trends - The cement industry is expected to maintain a positive price trend due to ongoing supply-side policies and production adjustments. The average national cement price is projected to decrease by 4.2% quarter-on-quarter but increase by 10.1% year-on-year in Q1 2025 [2]. - The new materials segment is anticipated to improve profitability as price recovery deepens, particularly in fiberglass and gypsum board products [3]. Engineering Services - The engineering and technical services segment reported stable growth, with new orders totaling RMB 63.4 billion, a 3% increase year-on-year. The international market is becoming increasingly important, with overseas orders accounting for 44% of total equipment orders [4].

Financial Performance - Total revenue for 2024 reached RMB 181,301 million, with a net profit attributable to equity holders of RMB 2,387 million[8]. - The company's revenue for 2024 was RMB 181.30 billion, a decrease of 13.8% compared to RMB 210.22 billion in 2023[17]. - Gross profit for 2024 was RMB 32.71 billion, down 12.6% from RMB 37.45 billion in 2023[17]. - Net profit attributable to equity holders was RMB 2.39 billion, a decline of 38.2% from RMB 3.86 billion in the previous year[17]. - The profit attributable to equity holders dropped from RMB 3,863.0 million in 2023 to RMB 2,387.3 million in 2024, a decrease of 38.2%[62]. - Other income increased from RMB 3,454.1 million in 2023 to RMB 5,533.4 million in 2024, an increase of 60.2%[65]. - The sales cost decreased from RMB 172,770.2 million in 2023 to RMB 148,591.4 million in 2024, a decline of 14.0%[64]. Segment Performance - The basic materials segment reported a revenue decline of 23.3%, with revenue of RMB 91,102 million and a loss of RMB 825 million attributable to equity holders[8]. - The new materials segment experienced a revenue increase of 1.9%, generating RMB 48,552 million in revenue but a profit decline of 23.8% to RMB 2,613 million[8]. - The engineering technology services segment saw a revenue growth of 0.8%, with revenue of RMB 45,464 million and a profit decline of 3.1% to RMB 1,407 million[8]. - Revenue from the basic materials segment decreased from RMB 118,800.5 million in 2023 to RMB 91,101.6 million in 2024, a decline of 23.3% due to lower average selling prices and sales volume of cement products[75]. Cash Flow and Debt - The net cash flow from operating activities was RMB 23,196 million, while capital expenditures amounted to RMB 23,501 million[8]. - The net debt ratio stands at 86.6%[8]. - The net debt ratio rose to 86.6% in 2024, up 5.2 percentage points from 81.4% in 2023[18][19]. - The group's net cash inflow from operating activities for 2024 was RMB 23,195.9 million, a decrease of RMB 5,829.0 million compared to RMB 29,024.9 million in 2023[97]. - The group's net cash outflow from investing activities for 2024 was RMB 20,276.7 million, down RMB 7,062.7 million from RMB 27,339.4 million in 2023[98]. - The group's net cash outflow from financing activities for 2024 was RMB 6,569.6 million, an increase of RMB 5,491.5 million compared to RMB 1,078.1 million in 2023[99]. Awards and Recognition - The company received seven major awards in 2024, including recognition for best ESG practices and best board from "Institutional Investor" magazine[6]. - The company ranked 37th in the "Pioneer 100" index for ESG among state-owned enterprises in China[6]. - The company received the Wind ESG AA rating and was selected as one of the "Top 100 ESG Listed Companies in China (2024)" in July 2024[169]. Strategic Initiatives - The company aims to become a world-class materials enterprise focused on value creation and shareholder returns[6]. - The company is actively involved in the development of new technologies and products in the fields of cement, concrete, and glass fiber[6]. - The company is focusing on digitalization, internationalization, and green transformation to enhance competitive advantages[32]. - The company aims to enhance core competitiveness and achieve effective quality improvement and reasonable growth in 2025[28]. - The company is committed to optimizing its layout and improving quality amidst external pressures and internal challenges[32]. Environmental and Social Governance - The company is committed to reducing carbon emissions throughout its operations, focusing on source reduction, process reduction, and end-of-pipe carbon capture[188]. - The company has established a carbon management system and is actively preparing for participation in the national carbon emissions trading market[188]. - The company has implemented a comprehensive environmental protection strategy, including the construction of green factories and mines[187]. - The company replaced 96.81 million tons of standard coal with alternative fuels, contributing to its green transformation efforts[60]. - The nitrogen oxides, sulfur dioxide, and dust emissions decreased by 22.42%, 17.69%, and 32.43% respectively, showcasing improvements in environmental performance[61]. Corporate Governance - The company held 9 board meetings in 2024 to discuss overall strategy, major investments, personnel appointments, and system revisions[108]. - The board of directors consists of five independent non-executive directors, meeting the minimum requirements of the listing rules[116]. - The company has established a set of codes to regulate the securities trading activities of directors and supervisors[107]. - The company has implemented a compliance management and risk management system to strengthen internal controls and adhere to relevant laws and regulations[162]. - The company’s independent non-executive directors receive regular updates on economic, industry, and company information to maintain informed decision-making[152]. Shareholder Information - The company plans to distribute a final dividend of RMB 1,199,697,374.56 (including tax) for the period from January 1, 2024, to December 31, 2024, which translates to RMB 0.158 per share, compared to RMB 0.229 per share in 2023[176]. - The proposed final dividend is subject to approval at the shareholders' annual general meeting on April 25, 2025[178]. - A withholding tax of 10% will be applied to the final dividend for non-resident corporate shareholders listed on the H-share register as of May 12, 2025[178]. - Individual H-share shareholders will have a withholding tax of 20% deducted from their dividends, unless they qualify for lower rates under tax treaties[179].