Glonghui, August 28 | Bank of America Securities published a report stating that China Building Materials's net profit after tax (NPAT) for the first half of the year was 1.4 billion yuan, down 74.9% year-on-year, roughly in line with expectations. In a conference call with analysts, China's building materials management expects demand for cement to remain basically the same this year and next two years. There will be two rounds of cement price increases in September and October, respectively, and the most anticipated carbon trade is likely to be implemented nationwide in 2025. Given the weakness in the cement market, the bank lowered its forecast for the 2023-2025 fiscal year by 5 to 13% year-on-year, and lowered the target price from HK$6 to HK$5.2, and the “buy” rating.