Asia Cement China (743) Q1 2026 earnings summary

Executive summary

• Reported a consolidated net loss attributable to owners of RMB81.3 million for Q1 2026, compared to a profit of RMB3.1 million in Q1 2025.

• Revenue for Q1 2026 was RMB1,020.5 million, down from RMB1,149.3 million year-over-year.

• No dividend was declared for the first quarter of 2026.

Financial highlights

• Gross profit declined to RMB75.3 million from RMB143.4 million year-over-year.

• Operating loss before tax was RMB75.5 million, compared to a profit of RMB8.6 million in Q1 2025.

• Basic loss per share was RMB0.052, versus earnings per share of RMB0.002 in Q1 2025.

• Net cash used in operating activities was RMB98.9 million, compared to net cash from operations of RMB91.3 million in Q1 2025.

Outlook and guidance

• Full-year cement demand expected to decrease moderately, with a slow pace of decline and better performance in the second half.

• Infrastructure investment and key projects are expected to support demand, while new property construction remains weak.

• Industry supply-demand balance may improve mid-term due to policy measures, but short-term price volatility will persist.

• Strategic focus on cost reduction, efficiency, and market share expansion to improve performance in H2 2026.