China Resources Building Materials Technology Holdings LimitedHKEX: 1313

PPT of 2025 Interim Results Presentation

· Issued by China Resources Building Materials Technology Holdings Limited




1H25 Results Summary

(RMB million)

1H24

1H25

YoY

Turnover

10,311.7

10,205.6

-1.0%

Gross profit

1,544.8

1,887.2

+22.2%

Gross margin

15.0%

18.5%

+3.5 ppt

EBITDA

1,871.6

2,043.6

+9.2%

Profit attributable to owners of the Company

165.8

306.7

+85.0%

Net cash (used in) generated from operating activities

(996.8)

751.8

Negative to Positive

Earnings per share

0.024

0.044

+85.0%

Gearing ratio

38.8%

35.1%

-3.7 ppt

1





Contents Operational Review

03

Financial Highlights

02

Industry Overview

01







Cement Production

  • In 1H25, China's cement production was approximately 815.3 million tons*, -4.3% YoY.

    (million tons , YoY)

    851

    815



    1,998 1,825

    National Cement Production (1)

    (YoY)

    2024
    2025

    -2%

    -9%

    -8%

    -8%

    -2%

    -5% -8%

    -22%

    -11%

    -12% -12% -10%

    -11%

    -6%

    -5%



    3%



    2023 2024 1H24 1H25

    (million tons)

    131

    2024
    1H25

    The Group's Operating Regions(2)

    (YoY)

    95

    89

    73

    60

    64

    43

    53

    29

    15 6

    42 41

    23

    15

    30



    1.1%

    2024
    1H25





    -8.5%

    -1.7%

    -5.2%

    -2.0%



    -9.0%

    -5.7%

    -7.7% -7.4%

    -7.3%

    -5.0%

    -10.5% -11.2%

    -5.4%

    -14.3% -11.9%

    Guangdong Guangxi Fujian Hainan Yunnan Guizhou Shanxi Hunan

    * Note: Statistics only include enterprises with annual turnover above RMB20 million. 3

    Source: (1) National Bureau of Statistics of China, (2) China Cement Association





    Cement Supply

    • In 1H25, there were 3 new clinker production lines nationwide with new annual clinker production capacity of 4.9 million tons in total.

    • In the major operating regions of the Group, there were no new annual clinker capacity.

New Clinker Capacity in China

(million tons)

New Clinker Capacity in Guangdong & Guangxi

(million tons)

39.4

36.0 34.2

24.9

20.5 20.4

23.7

10.4

4.9



13.4

7.8

8.7

6.6

3.1

4.7

5.6

13.4 4.9

2.8

4.7

4.7

3.1

3.3

1.6

2.8

3.1

1.9

1.6

1.4

1.4

0.0



2017 2018 2019 2020 2021 2022 2023 2024 1H25

Source: Company information, China Cement Association

2017 2018 2019 2020 2021 2022 2023 2024 1H25

Guangdong
Guangxi

4





Contents Operational Review

03

Financial Highlights

02

Industry Overview

01







Financial Performance Turnover Profit attributable to owners of the Company

(RMB million) (RMB million)

25,550

10,312

10,206



23,038

644

307

211

166



2023 2024 1H24 1H25

2023 2024 1H24 1H25

Earnings per share Net assets per share

(RMB) (RMB)

6.32 6.32 6.33 6.36



0.030

0.024

0.044



0.092

2023 2024 1H24 1H25

2023 2024 1H24 1H25 6





Dividend Payout

(HK$)

2017 2018 2019 2020 2021 2022 2023 2024 1H25

(HK$)

Interim

0.115

0.275

0.260

0.275

0.240

0.120

0.041

0.020

0.014

Final

0.155

0.273

0.335

0.340

0.280

0.009

0.006

0.010

Annual

0.270

0.548

0.595

0.615

0.520

0.129

0.047

0.030

7





Turnover

Cement products refer to cement & clinker

(RMB million)

Turnover by Product

Product

1H24

1H25

Cement Products

6,891

6,249

Concrete

1,737

2,081

Aggregates

1,087

1,316

Others

597

560

Total

10,312

10,206

Aggregates

Product

2024 YoY

1H25 YoY

Cement Products

-20.4%

-9.3%

Concrete

+21.6%

+19.8%

Aggregates

+56.2%

+21.0%

Others

-19.3%

-6.2%

Total

-9.8%

-1.0%

1H25

Others

5.5%

Cement Products

Concrete

Aggregates

Others

25,550

1,625

23,038

1,616

1,312

3,423

2,525

4,162

18,886

15,039

12.9%

2023 2024 1 H 24 1 H 25

Concrete

20.4%

61.2%

Note: Others consists of Prefabricated Construction and Engineered Stone businesses.

Cement Products

8





Sales Volume Cement Products Sales Volume By Product Type

('000 tons)

17,839





16.6% 17.9%



1H24 1H25



69,301

61,714

28,963

25,309

13,033



11,328



15,930

13,981

14,912



2024



83.4% 82.1%

42.5 or higher grades cement



Others

2023

2024

1H24

1H25

1Q

2Q

2025

3Q

4Q

29.3% 30.8%



1H24 1H25

70.7% 69.2%

('000 m3)

Concrete Sales Volume
2024
2025

('000 tons)

69,352

Bag

Bulk



Aggregates Sales Volume
2024
2025

45,583

36,336

29,497







20,354

15,982

14,158

15,339

16,786

23,069

13,029

3,742

3,135

4,736

9,334

6,877

3,236

5,057

2,305

2,752



2023 2024 1H24 1H25

1Q 2Q 3Q 4Q

2023 2024 1H24 1H25

1Q 2Q 3Q 4Q

9





Average Selling Price

Cement Products

(RMB per m3)

Concrete

2024

YoY

1H25

YoY

Concrete

320

-12.9%

303

-11.9%

(RMB per ton)

2024

YoY

1H25

YoY

Cement Products

244

-10.6%

247

+3.8%

2024

2025

355

334

320

301

304

294



1Q 2Q 3Q 4Q

Aggregates

252

243

237

259

244

233



2024

YoY

1H25

YoY

Aggregates

36

+2.8%

36

-1.6%

(RMB per ton)

2024

2025

2024

2025



37 36 35

37 36 37

1Q 2Q 3Q 4Q

1Q 2Q 3Q 4Q 10





Cost Structure of Cement Products Unit Cost Average Coal Purchase Price

(RMB per ton) (RMB per ton)

239.4

208.4

210.2

200.7

929

802

828

681



2023 2024 1H24 1H25

2023 2024 1H24 1H25

Unit Cost Breakdown

Materials

17.4%

Coal

1H25

37.1%

Others

32.0%

Electricity

13.5%

(RMB per ton)

1H24

1H25

YoY

Coal

85.1

74.5

-12.5%

Electricity

28.8

27.0

-6.3%

Materials

36.7

34.9

-4.9%

Others

59.6

64.3

+7.9%

Total

210.2

200.7

-4.5%

Notes:

  1. Exclusive of sales from related parties;

  2. Others: Staff, transportation, depreciation, repairs and maintenance costs and other indirect costs accounting for 8.6%,

3.7%, 11.2%, 4.5% and 4.0% respectively of total unit cost. 11





Gross Profit & Margin

(RMB per ton)

Cement Products Concrete

2024

1H25

Gross Profit

37

50

Gross Margin

15.1%

20.1%

2024

1H25

Gross Profit

39

42

Gross Margin

12.2%

14.0%

(RMB per m3)

17%

11%

13%

13%



21%

23%

13% 12% 12% 12% 13% 15%

54

42

56





46

41

39

35

40

45



2Q25



1Q24 2Q24 3Q24 4Q24 1Q25

27

30

32

2Q25

Aggregates

1Q24 2Q24 3Q24 4Q24 1Q25

(RMB per ton)

2024

1H25

Gross Profit

13

9

Gross Margin

35.1%

25.3%

12





SGA Expenses & Finance Costs

(RMB million)

2024 YoY

1H25 YoY

General & administration

+13.3%

+32.4%

Selling & distribution

-16.0%

-8.9%

Total

+8.0%

+24.9%

Selling, general & administrative expenses

Finance costs

256

229



536 536

2,828

506

3,055



425

1,440

9.1%

11.4%





9.2%

12.3%

2,322 2,630

1,152

208

189

944 1,251

2.0% 1.8% 2.0% 1.9%





2023 2024 1H24 1H25

Selling & distribution

General & administration

2023 2024 1H24 1H25

General & administrative

expenses to turnover

Selling & distribution expenses to turnover

2023 2024 1H24 1H25

13





Share of results of Associates & JVs

(RMB million)

Share of results of associates Share of results of joint ventures

47



44

24

21



-65 -42

-101 -114

2023 2024 1H24 1H25

RMB million

1H24

1H25

Fujian

-19

-

Yunnan

-40

-14

Inner Mongolia

17

9

2023 2024 1H24 1H25

Note:

  1. The Group holds 49.0%, 50.0%, 40.6%, in our cement-related Associates in Fujian, Yunnan and Inner Mongolia respectively.

    14





    Financial Position

    (RMB million)

    31 Dec 2024

    30 Jun 2025

    Change

    Cash and bank balances

    2,235.2

    2,781.8

    24.5%

    Total assets

    71,963.1

    71,921.9

    -0.1%

    Gearing ratio

    34.6%

    35.1%

    +0.5 ppt

    Net assets per share (RMB)

    6.32

    6.36

    +0.6%

    Notes:

    1. Gearing ratio is calculated by dividing the total bank borrowing, loans from related parties and medium-term notes by equity attributable to owners of the Company.

    2. Net assets per share is calculated by dividing equity attributable to owners of the Company by the number of issued shares at the end of the year/the relevant reporting period.

15





Cash Flow

(RMB million)

30 Jun 2024

30 Jun 2025

Change

Net cash (used in) generated from operating activities

(996.8)

751.8

N/A

Net cash used in investing activities

(1,298.2)

(548.6)

-57.7%

Net cash generated from financing activities

805.9

345.1

-57.2%

Net (decrease) increase in cash and cash

equivalents for the period

(1,489.1)

548.3

N/A

Cash and cash equivalent at end of the

period

1,115.6

2,781.8

+149.4%

  • Total payment for capital expenditure of the Group in 1H25 was RMB643 million.

  • Expected capital expenditures are approximately RMB2,119 million in 2H25.

16





Capital Expenditure

(RMB million)

10,434

10,737

2,762

5,209

2,825

4,438

3,025

643

2,119



2019 2020 2021 2022 2023 2024 2025

Actual
Expected

(RMB Million)

2019

2020

2021

2022

2023

2024

2025E

Aggregates

163

3,240

5,429

5,757

2,417

1,889

1,290

Functional Building Materials

812

-

614

1,493

194

68

87

Others

100

331

428

394

373

19

-

New Business Total

1,076

3,571

6,470

7,644

2,984

1,976

1,377

% of Total Capex

38%

80%

62%

71%

57%

65%

50%

17





Debt Structure

(RMB million)

18.9%

13.8%

19.0%

5.3%

33.5% 36.9% 34.6% 35.1%

2,777

3,000

4,100

3,000

6,998

1,516

14,068

1,000

14,406

1,000

199

14,146

16,090



28.0% 30.0% 28.4% 27.7%

Net Gearing Ratio

Gearing Ratio

Currency (30 Jun 2025)

-12.2% -13.6%

533

191

HK$,

13%

RMB,

87%



194

Duration (30 Jun 2025)

2019.12

2020.12

2021.12

2022.12 2023.12 2024.12

2025.06

35%

65%



Due within 1 year
Due after 1 year

Bank Loan Mid-Term Notes

Loans from Related Parties

Notes:

  1. Net gearing ratio is calculated by dividing net borrowings by equity attributable to owners of the Company.

  2. Gearing ratio is calculated by dividing the total bank borrowings, unsecured bonds, loans from related parties and medium-term notes by equity attributable18 to owners of the Company.





    Contents Operational Review

    03

    Financial Highlights

    02

    Industry Overview

    01







    Operations Management

    Utilization Rate

    (%)

    2023

    2024

    1H24

    1H25

    71.8

    69.2

    93.4

    64.2

    85.9

    56.8

    75.1

    80.2

    25.9

    33.9

    27.1

    32.0

    Cement

    Concrete

    Aggregates



    5% 132.0

    130.0

    129.9

    129.0

    Northern China

    31%

    Neighbouring Areas

    64%





    98.2

    97.2



    97.2

    98.2



    Overseas

    2023

    2024

    1H24

    1H25

    2023

    2024

    1H24

    1H25

    • Residual Heat Recovery - 631.5 million kwh of electricity generated (28.1% of total electricity consumption)

Electricity Management

3.0 million tons of coal as at 1H25

72% direct procurement

Coal Procurement

Unit Coal Consumption

(kg per ton of clinker)

Standard Coal Consumption

(kg per ton of clinker)





Electricity Consumption

(kwh per ton of cement)

70.9 68.3 68.1 68.4

20

2023 2024 1H24 1H25





The Group's Production Capacity

Controlled by the Group (As at 30 Jun 2025)

Cement

Clinker

Concrete

Province/AR/SAR

No. of lines

million tons

No. of lines

million tons

No. of plants

million m3

Guangdong

32

27.7

12

15.5

22

16.0

Guangxi

35

34.8

19

27.9

30

19.6

Fujian

14

10.1

6

7.0

1

0.6

Hainan

5

4.4

3

2.9

6

3.3

Yunnan

7

5.1

4

4.2

1

0.6

Guizhou

4

4.0

2

2.8

1

0.8

Shanxi

2

2.0

1

1.5

1

0.6

Hunan

2

2.1

2

1.5

-

-

Zhejiang

-

-

-

-

2

1.1

Hong Kong

-

-

-

-

4

1.6

Total

101

90.2

49

63.3

68

44.2

Controlled by associates and joint ventures

Cement

Clinker

Concrete

Province/AR/SAR

No. of lines

million tons

No. of lines

million tons

No. of plants

million m3

Guangdong

6

7.3

2

3.7

-

-

Fujian

16

16.2

7

9.6

8

5.1

Yunnan

31

23.9

16

16.7

3

1.2

Inner Mongolia

21

17.3

5

7.0

4

1.2

Hong Kong

-

-

-

-

4

0.9

Total

74

64.7

30

37.0

19

8.4

Attributable

-

22.3

-

12.0

-

3.9

Note: The Group holds 50.0% in our Joint Ventures operating in Guangdong and Hong Kong as well as 49.0%, 50.0% and 21

40.6% in our Associates in Fujian, Yunnan and Inner Mongolia respectively.





Disclaimer & Contact Information

This document is prepared by China Resources Building Materials Technology Holdings Limited (the "Company") solely for this investor presentation. Copying or redistribution of this document to any person is strictly prohibited. The distribution of this document in other jurisdiction may be restricted by laws of that jurisdiction, and persons who possess this document should observe such restriction. Apart from the figures extracted from our Annual Reports, other financial information or data has not been reviewed or audited by our independent auditor. The information contained in this document has not been independently verified. No representation or warranty express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. The purpose of this document is not for complete or fully analysis made to the financial or trading position or prospect of the Company, and any person who will in possession of this document shall be aware that no reliance should be placed on the content contained herein. The information and opinions contained in this document are subject to change without notice. This document is not intended to constitute an offer to, or a solicitation for offer to sell, purchase or subscribe the securities of the Company. The Company or any of their respective affiliates, advisors or representatives shall not have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this document or its content or otherwise arising in connection with this document.

This document may contain forward-looking statements that reflect risks and uncertainties. These forward-looking statements are generally expressed in forward-looking expressions, such as expectations, estimation,

planning, projections, goals, the possibilities, probabilities or so on to reflect the actions that the Company expects to or may take in future or the results from these actions. You should not have excess reliance on these forward-looking statements, which are based on our own information and other source of information that we consider reliable. Our actual results may differ from these forward-looking statements which may lead to the fluctuation of the share price of the Company.

Investor Relations Inquiries:

Tel:

E-mail: Website: Address:

(852) 3118 6800

crcement@crc.com.hk https://www.cr-bmt.com

Room 3001-05, China Resources Building, 26 Harbour Road, Wanchai, Hong Kong



22



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