China Resources Building Materials Technology (1313) Q1 2026 earnings summary

Executive summary

• Turnover declined 9.9% year-over-year in 1Q26 to RMB4,168.9 million, with gross profit down 37.3% and gross margin falling 4.9–5.0 percentage points year-over-year.

• Loss attributable to owners was RMB187.9 million, compared to a profit of RMB107.0 million in the same period last year.

• Sales volumes for cement products, concrete, and aggregates increased year-over-year, but average selling prices dropped significantly across all product lines.

• No interim dividend was declared for the period.

Financial highlights

• 1Q26 turnover was RMB4,169 million, down from RMB4,627 million in 1Q25.

• Gross profit for 1Q26 was RMB473.9 million, a 37.3% decrease year-over-year.

• Earnings per share dropped from RMB0.015 in 1Q25 to -0.027 in 1Q26.

• Finance costs decreased 18.8% year-over-year in 1Q26.

• Gearing ratio increased by 2.1 percentage points year-over-year to 32.8% as of March 2026.

Segment performance

• Cement turnover fell from RMB2,854 million in 1Q25 to RMB2,534 million in 1Q26; concrete and aggregates also saw revenue declines.

• Cement product sales volume rose 18.2% year-over-year, concrete up 3.6%, and aggregates up 6.0%.

• Average selling prices for cement, concrete, and aggregates dropped 14.3%, 15.6%, and 16.1% year-over-year, respectively.

• Gross margins for cement, concrete, and aggregates all declined significantly year-over-year.