China Resources Building Materials Technology (1313) H2 2025 earnings summary

Executive summary

• Profit attributable to owners surged 127.3% year-over-year, with EBITDA up 2.7% and gross margin improving by 0.2 ppt year-over-year.

• Turnover reached RMB23,038 million, but revenue for 2025 was RMB21,054.8 million, down 8.6% year-over-year.

• Free cash flow rebounded to RMB-1,291 million from RMB-8,070 million in 2024, a significant improvement.

• Basic EPS rose to RMB0.069, and a final dividend of HK$0.024 per share was proposed.

• The Group focused on cost reduction, digital transformation, and green initiatives, with significant investments in smart factories and R&D.

Financial highlights

• Earnings per share rose 130% year-over-year to RMB0.069.

• Net assets per share increased 0.8% to RMB6.37.

• Gearing ratio decreased by 3.9 ppt to 30.7%.

• Cash and bank balances rose 7.4% to RMB2,401.7 million.

• Gross margin increased to 16.7%, with cement, concrete, and aggregates gross margins at 17.1%, 14.3%, and 23.8% respectively.

Outlook and guidance

• Cash reserves and RMB22.65 billion in unutilized banking facilities provide ample liquidity for future strategic development.

• The Group will focus on cost reduction, digitalization, and green transformation, aiming to strengthen core businesses and develop new growth engines.

• Plans include further R&D in smart, green, and integrated technologies, and expansion in aggregates and new materials.