Changes in Hong Kong stocks | China Building Materials (03323) rose by more than 5% after the warning, equity holders are expected to account for losses of about 700 million yuan in the first three quarters, a year-on-year profit to loss

The Zhitong Finance App learned that China Building Materials (03323) rose more than 5% after the warning. As of press release, it had risen 5.52% to HK$3.06, with a turnover of HK$37.197,700.

According to the news, China Building Materials announced that the Group expects losses due to unaudited equity holders in the first three quarters of 2024 to be approximately RMB 700 million, while profit attributable to equity holders for the same period in 2023 is approximately RMB 2.353 billion. This decline in expectations is mainly due to a drop in sales prices of the Group's main products cement, commercial concrete and glass fiber, a decline in cement sales, and a decline in the performance of affiliated companies, but it is partly offset by a decrease in sales costs of cement and commercial concrete, as well as a decrease in net losses due to changes in the fair value of the Group's financial assets confirmed by fair value in profit and loss accounts.