Core Viewpoint - China National Building Material (CNBM) expects a significant profit turnaround for the nine months ending September 30, 2025, projecting a profit of approximately RMB 2.95 billion, compared to a loss of about RMB 684 million for the same period in 2024 [1] Group 1: Financial Performance - For the first half of 2025, CNBM reported revenue of RMB 83.28 billion, a slight decrease of 0.2% compared to the same period in 2024 [3] - The unaudited profit attributable to equity holders was approximately RMB 1.36 billion, a recovery from a loss of RMB 2.018 billion in the first half of 2024 [3] Group 2: Sales and Pricing - In the basic building materials segment, aggregate sales reached 62.965 million tons, a year-on-year decline of 2%, with an average price of RMB 36.3 per ton, down 1.1% [3] - Cement sales totaled 87.268 million tons, down 14.3%, while the average price increased by 3.6% to RMB 253.5 per ton [3] - Clinker sales were 10.511 million tons, a decrease of 12.3%, with an average price increase of 4.1% to RMB 219.4 per ton [3] - Ready-mixed concrete sales slightly decreased by 0.2% to 35.133 million cubic meters, with an average price of RMB 298.2 per cubic meter, down 4.4% [4] Group 3: Factors Influencing Profitability - The expected profit growth is attributed to lower sales costs of key products such as cement and ready-mixed concrete, increased sales prices of fiberglass, higher sales volumes of wind turbine blades and coatings, and increased profits from joint ventures [1] - However, the profit growth is partially offset by a decline in cement sales volume [1]