CNBM (03323) has announced an expected unaudited loss attributable to equity holders for the twelve months ending December 31, 2025, to be between approximately RMB 2.3 billion and RMB 4.0 billion. This compares to a profit attributable to equity holders of about RMB 2.387 billion for the twelve months ended December 31, 2024.

The anticipated decline is primarily attributed to increased impairment provisions for the Group's property, plant, and equipment, as well as increased goodwill impairment provisions, coupled with a decrease in sales volume of its key product, cement. These negative factors were partially offset by a reduction in the cost of sales for cement and commercial concrete, an increase in the selling price of glass fiber alongside a decrease in its cost of sales, increased sales volumes of wind turbine blades and coatings, and a rise in the profit share from associated companies.

The expected increase in impairment provisions is related to provisions for property, plant, equipment, and goodwill associated with production lines that are scheduled for exit following capacity replacement initiatives involving some of the Group's clinker production lines. The Group has engaged appraisal institutions to conduct impairment tests, and this work is currently underway. Based on preliminary calculations from the appraisers, the relevant asset impairment provisions expected to be recognized for the year ending December 31, 2025, are estimated to be between approximately RMB 6.0 billion and RMB 8.3 billion.