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FINWIRES

China Resources Building Materials Expects Swing to Loss in Q1

-- China Resources Building Materials Technology (HKG:1313) expects a first-quarter loss attributable to owners of 170 million yuan to 200 million yuan, compared with a profit of 107 million yuan a year earlier, according to a Monday Hong Kong bourse filing.

Shares of the cement manufacturer were down nearly 4% in late morning trade on Tuesday.

The company said the expected loss was mainly due to lower selling prices of cement and concrete products, which weighed on gross profit and margins.

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