Glonghui, January 22 | UBS issued a report stating that China Resources Building Materials Technology's profit forecast last year's net profit will decrease by about 58% to 67% year-on-year, to 639 million to 813 million yuan, lower than the bank's and market expectations of 902 million yuan and 1,034 million yuan. The company's profit margin means that it recorded a net loss of 71 million yuan in the fourth quarter of last year to a net profit of 103 million yuan, compared with a net profit of 89 million yuan in the third quarter of last year. Furthermore, the bank indicated that the management of China Resources Building Materials Technology had anticipated that the cement business would continue to face challenges this year, but it also estimated that the aggregate business would contribute more; it also anticipated that the total external sales volume this year would reach 70 million to 75 million tons, compared to about 45 million tons last year. The bank lowered China Resources Building Materials Technology's profit forecast, mainly due to the weakening of cement prices due to increased competition. The target price was lowered from HK$1.35 to HK$1.22, with a rating of “sale”.