China National Building Material (03323.HK): Letter of Delay in Commitment to Avoid Competition in the Same Industry

Zhitong Finance APP News, China National Building Material (03323.HK) announced that it will terminate the acquisition of China National Building Material by Ningxia Building Material and the restructuring of cement assets involving Ningxia Building Material and Tianshan Co., Ltd. It also involves the postponement of the company's commitment to avoid competition with Ningxia Building Material and Tianshan Co., Ltd. for an additional two years. In August 2026, the company sent the latest deferment letters to the respective companies involved, informing them that it has been committed to fulfilling these commitments since making them, actively communicating with relevant parties to seek feasible solutions that do not harm or affect the independence of the listed company while maximizing benefits for the public shareholders of the listed company to resolve the competition issue. The company believes that the integration plan for the basic building materials sector must be formulated maturely and promoted steadily under the principles that are conducive to the development of the listed company and that safeguard the interests of the public shareholders of the listed company. Therefore, the company intends to further extend the commitment to Ningxia Building Material and Tianshan Co., Ltd., to fulfill these commitments within two years from the date the respective shareholders meetings of the committed companies approve the extension of the commitment to avoid competition. In addition, other contents of the commitment letter from 2017 remain unchanged.