Changes in Hong Kong stocks | China Building Materials (03323) fell by more than 10%, and is expected to turn profit and loss of about 890 million yuan in the first half of the year, and goodwill impairment provisions increase

The Zhitong Finance App learned that China Building Materials (03323) fell by more than 10%. As of press release, it fell 10.23% to HK$3.86, with a turnover of HK$774.628 million.

According to the news, China Building Materials issued a profit warning. It is estimated that the Group's losses due to unaudited equity holders for the six months ending June 30, 2026 are about RMB 890 million, while the profit attributable to equity holders for the same period last year is approximately RMB 1.36 billion. The expected decline is mainly due to a drop in sales prices for the Group's main products, cement, commercial concrete, and aggregates, a decline in sales of commercial concrete and gypsum board, an increase in depreciation provisions for the Group's property, plant and equipment and goodwill impairment provisions, and an increase in net losses due to changes in the fair value of financial assets confirmed by fair value in profit and loss accounts.

According to the company, some of the losses were offset by rising sales prices and falling sales costs of glass fiber, rising sales prices of electronic cloth, increased sales of electronic cloth and lithium battery separators, and lower sales costs of cement and commercial concrete. The profitable growth of the new materials sector business group has a low shareholding ratio, which has failed to fully offset the decline in profits in the basic building materials business where the group has a high shareholding ratio.