China Resources Building Materials Technology (1313) H1 2025 earnings summary

Executive summary

• Revenue for 1H25 was RMB10,205.6 million, down 1.0% year-over-year, while profit attributable to owners surged 85.0% to RMB306.7 million and basic EPS rose to RMB0.044.

• Gross profit increased 22.2% to RMB1,887.2 million, with gross margin improving to 18.5% from 15.0% year-over-year.

• Interim dividend of HK$0.014 per share was declared, totaling HK$97.8 million, payable in HKD or RMB at shareholder election.

• The Group advanced cost reduction, digital transformation, and green innovation, with significant progress in energy saving, carbon reduction, and technological upgrades.

• Net cash from operating activities turned positive at RMB751.8 million, compared to a negative RMB996.8 million in 1H24.

Financial highlights

• EBITDA increased 9.2% to RMB2,043.6 million, and EBITDA margin improved.

• Net margin improved to 1.7% from 1.3% in the prior year.

• Gearing ratio was 35.1%, and net assets per share increased to RMB6.36 as of June 30, 2025.

• Cash and bank balances at period end were RMB2,781.8 million.

• Total assets stood at RMB71,921.9 million as of June 30, 2025.

Outlook and guidance

• The Group will continue to strengthen its core businesses, accelerate industry upgrades, and expand strategic emerging industries, focusing on cost reduction, digital transformation, and leveraging integrated synergies.

• Expected capital expenditures for 2H25 are approximately RMB2,119 million.

• The Chinese government’s proactive fiscal policy and infrastructure investment are expected to support demand.