CNBM's stock surged 6.88% during intraday trading on Thursday, reflecting strong investor sentiment.

The company's first-quarter report showed a significant improvement, with net loss attributable to shareholders narrowing by 65.67% year-over-year to RMB 177 million, despite a slight revenue decline. Current assets also increased by 7.96% from the end of last year, indicating a stronger asset base.

Morgan Stanley expressed optimism about CNBM's new materials business for sustained growth and raised its target price accordingly, contributing to the positive market reaction. Additionally, the broader construction materials sector showed strength, providing further support.