CR BLDG MAT TEC turned from profit to loss in the first quarter with a loss of 190 million yuan, and revenue fell by 10%
I'm LongbridgeAI, I can summarize articles.CR BLDG MAT TEC announced its first-quarter financial report for the period ending March 31, reporting a loss of approximately 190 million yuan, compared to a profit of 100 million yuan in the same period last year. Operating revenue was 4.17 billion yuan, a decrease of 9.9%, with a comprehensive gross profit of 470 million yuan, down 37.3%. The gross profit margin fell to 11.4%, mainly due to a decline in the selling prices of cement and concrete. Selling and distribution expenses rose to 100 million yuan, with a borrowing rate of 32.8%
According to a report from the Economic Information Agency on the 27th, CR BLDG MAT TEC (01313) announced a loss of approximately 190 million yuan (RMB, the same below) for the first quarter ending March 31, compared to a profit of 100 million yuan in the same period last year, with a loss per share of 2.7 cents and no dividend declared.
The group stated that operating revenue was 4.17 billion yuan, down 9.9%, with a consolidated gross profit of 470 million yuan, a decrease of 37.3%. The consolidated gross profit margin was 11.4%, a decline of 4.9 percentage points, mainly due to the decrease in sales prices of cement products and concrete during the period. The gross profit margins for cement products, concrete, and aggregates during the period were 12.2%, 11.9%, and 11.4%, respectively. Selling and distribution expenses rose to 100 million yuan, and the share of losses from joint ventures increased to 94.02 million yuan, which dragged down performance. As of the end of March, the borrowing rate was 32.8%, an increase of 2.1 percentage points compared to the end of last year. (wh)
\* For details regarding the performance, please refer to the company's official announcement