China Resources Building Materials Technology (1313) Q1 2025 earnings summary

Executive summary

• Turnover for 1Q25 was RMB 4,626.9 million, down 3.4% year-over-year, while gross profit rose 14.2% to RMB 755.4 million and gross margin improved by 2.5 ppt to 16.3%.

• Net profit attributable to owners turned positive at RMB 107.0 million, compared to a loss of RMB 28.9 million in 1Q24.

• Basic earnings per share improved from a loss of RMB 0.004 to a gain of RMB 0.015 year-over-year.

Financial highlights

• Full-year 2024 turnover was RMB 23,038 million, down 9.8% from 2023.

• Profit attributable to owners for 2024 was RMB 211 million, a 67.2% decrease from 2023.

• Net assets per share increased slightly to RMB 6.34 as of 1Q25.

• Dividend payout ratio for 2024 was 47.9%, with annual dividend per share at HK$0.030.

• No interim dividend was declared for the period.

Outlook and guidance

• Expected capital expenditures for 2025 are approximately RMB 2,524 million, down from RMB 3,025 million in 2024.

• The Board does not recommend the payment of any dividend for the period.