Core Viewpoint - China National Building Material (03323) issued a profit warning, expecting a loss of approximately RMB 2.3 billion to RMB 4 billion for the year ending December 31, 2025, following a profit of about RMB 2.387 billion for the year ending December 31, 2024 [1] Group 1: Financial Performance - The expected decline in performance is primarily due to increased impairment provisions for properties, plants, and equipment, as well as goodwill impairment, alongside a decrease in cement sales volume [1] - The company anticipates that the increase in impairment provisions will involve the write-off of assets related to the production lines being phased out after capacity replacement [1] Group 2: Mitigating Factors - Some of the expected losses are offset by a decrease in the cost of sales for cement and ready-mixed concrete, an increase in the selling price of fiberglass, and an increase in sales volume for wind turbine blades and coatings [1] - The profit from associated companies is also expected to rise, contributing positively to the overall financial outlook [1] Group 3: Impairment Testing - The company has engaged an evaluation agency to conduct impairment testing, with preliminary estimates suggesting that the impairment provisions for the year ending December 31, 2025, could range from RMB 6 billion to RMB 8.3 billion [1]
港股异动 | 中国建材(03323)盈警后跌超10% 预期2025年股东应占亏损至多约40亿元