China Resources Building Materials Technology (1313) H1 2026 earnings summary

Executive summary

• Turnover for the six months ended 30 June 2026 was RMB8,636.0 million, down 15.4% year-over-year, with a net loss attributable to owners of RMB441.2 million versus a profit of RMB306.7 million last year.

• Basic loss per share was RMB0.063, and an interim dividend of HK$0.014 per share was declared, unchanged from last year.

• Cement product sales volume decreased 0.7% to 25.1 million tons, while concrete sales volume rose 15.7% to 7.96 million m³.

• The Group faced a challenging macroeconomic and industry environment, with declining cement prices and volumes, and continued cost reduction efforts.

• Gross margin dropped 10.2 percentage points to 8.3%, reflecting significant margin pressure.

Financial highlights

• Gross profit fell 62.2% year-over-year to RMB713.9 million, with gross margin dropping to 8.3% from 18.5%.

• Net margin was -6.2%, down from 1.7% last year.

• Average selling prices declined across all products: cement (-16.6%), concrete (-18.6%), and aggregates (-15.5%).

• Finance costs decreased 17.0% to RMB189.5 million.

• Net cash from operating activities swung from RMB751.8 million inflow to RMB794.3 million outflow.

Outlook and guidance

• The Group will focus on cost reduction, efficiency gains, and digital transformation, while exploring new business opportunities and maintaining prudent capital allocation.

• The macroeconomic outlook remains uncertain, but policy support and infrastructure investment are expected to provide some stabilization.

• Dividend per share remained unchanged at HK$0.014.

• Capital expenditure increased 1.7% to RMB654 million, with continued investment in aggregates and new business segments.