HONG KONG ECONOMIC TIMES, October 15 - China Building Materials (03323) is currently down 3.4%, trading at HK$2.945. In terms of current price, the stock has fallen for two consecutive days, with a cumulative decline of 3.6%. The stock's turnover amounted to approximately 11.91 million shares, involving HK$35.17 million.

    China Building Materials announced that it expects a loss of approximately RMB 760 million for the first three quarters ended September 30, compared to a profit of approximately RMB 2.96 billion during the same period last year.

    The group stated that the loss was due to declining sales prices of its main products, including cement, ready-mixed concrete, and aggregates, as well as reduced sales volumes of cement, ready-mixed concrete, and gypsum board, and increased provisions for asset impairment. However, these factors were partially offset by higher sales prices and lower sales costs of fiberglass, increased sales prices of electronic cloth, higher sales volumes of fiberglass, electronic cloth, and lithium-ion battery separator, as well as lower sales costs of cement and ready-mixed concrete.

    The group expects to announce its results by the end of October. (am)