CNBM (03323): Tianshan Material (000877.SZ) expects a net loss attributable to shareholders of approximately 400 million to 800 million yuan in 2024.

CNBM (03323) announced that its subsidiary, Tianshan Materials Co., Ltd. (000877.SZ), is expected to incur a net loss of approximately 400 million to 800 million yuan for the fiscal year 2024, compared to a profit of approximately 1.965 billion yuan in the same period last year. The main reasons for the performance changes in the current reporting period compared to the same period last year are as follows: Tianshan Materials actively strengthened cost control, with major raw material prices such as coal decreasing year-on-year, and the cost of cement clinker decreasing year-on-year. However, due to a significant decrease in market demand, the selling price and sales volume of cement clinker have dropped significantly, leading to a decrease in gross profit margin year-on-year. The gross profit margin of ready-mixed concrete also decreased year-on-year, influenced by the decrease in raw material prices, although costs decreased, the decrease in unit cost was lower than the decrease in unit selling price.