Summary by Futu AI
CNBM released its mid-term financial report on June 30, 2024, showing that the company faced challenges in the real estate market adjustment and infrastructure project funding tightening in the first half of the year. The cement industry experienced low demand, with national cement production reaching its lowest level since 2011, leading to industry-wide losses for the first time. Despite this, as the world's largest fiberglass and cement producer, CNBM has enhanced its core competitiveness through technological innovation and international deployment in the new materials division, and has relatively stable demand in the gypsum board market. In terms of financial data, the company's revenue was 834.71 million yuan, equity holders' share of profit was -20.18 million yuan, net cash flow from operating activities was 29.95 million yuan, capital expenditures were 130.13 million yuan, and the net debt ratio was 91.7%. In addition, the company received an AA rating in ESG evaluation and ranked 40th among the best progressing enterprises in the industry.
