CNBM (03323) rose more than 8%, as of the time of publication, it rose 8.28%, closing at 3.14 Hong Kong dollars, with a turnover of 0.249 billion Hong Kong dollars.
According to the Securities Times app, CNBM (03323) rose more than 8%, rising 8.28% as of the time of publication, closing at 3.14 Hong Kong dollars, with a turnover of 0.249 billion Hong Kong dollars.
On the news front, CNBM issued a profit warning, expecting the group's unaudited equity holders' share of loss to be approximately 0.7 billion yuan for the first three quarters of 2024, while in the same period of 2023, the equity holders' share of profit was approximately 2.353 billion yuan. This is mainly due to the decrease in selling prices of main products cement, commodity concrete, and fiberglass, a decrease in cement sales volume, and a decline in the performance of equity-accounted investees.
UBS Group released research reports stating that CNBM is expected to incur a loss of approximately 0.7 billion yuan due to the decline in commodity prices in the first three quarters. Based on this estimate, the company incurred a loss of 2.018 billion yuan in the first half of the year, turning to a profit of 1.318 billion yuan in the third quarter. Through communication with investors, the bank believes that CNBM's third-quarter profit improvement is expected to be better than market expectations.