Core Insights - The company reported a mid-year revenue of approximately RMB 45.566 billion for 2025, showing a slight year-on-year growth of about 0.01% [1] - The net loss attributable to shareholders was approximately RMB 1.496 billion, representing a significant year-on-year increase of about 85.4% [1] - The basic loss per share, excluding other equity instruments, was approximately RMB 0.19 [1] Segment Summaries New Green Building Materials - The new green building materials segment achieved main business revenue of approximately RMB 40.489 billion, reflecting a year-on-year increase of about 14.8% [1] - The segment's gross profit amounted to approximately RMB 3.621 billion, which is a year-on-year increase of about 26.1% [1] Cement Business - The cement business focused on lean operations and initiated a special action to reduce costs and improve efficiency [1] - Cement and clinker sales reached 37.38 million tons (excluding joint ventures), showing a year-on-year decline of 2.1% [1] - The gross profit margin for cement and clinker was 20.7%, an increase of 10.3 percentage points compared to the previous year’s margin of 10.4% [1] Concrete Business - The concrete business implemented a strategy focused on development, sales growth, innovation, risk control, overdue reduction, and cost reduction [2] - The company acquired, leased, and commissioned 10 new sites in Hebei, Shaanxi, Jilin, Tianjin, and Chongqing, adding over 9.23 million cubic meters of capacity [2] - Concrete sales reached 7.27 million cubic meters, a year-on-year increase of 35.1%, with a gross profit margin of 9.2%, down 0.6 percentage points year-on-year [2] New Materials Business - The new materials segment improved its integrated marketing mechanism and expanded its product, solution, and service offerings in high-value sectors such as petrochemicals and new infrastructure [2] - The segment achieved main business revenue of approximately RMB 6.6 billion, reflecting a year-on-year increase of about 6.1% [2] - The gross profit margin for this segment was approximately 15%, showing a year-on-year growth of about 1.3 percentage points [2]