3323.HK
China National Building Material again extends non-compete commitment by two years
China National Building Material announced another two-year extension for fulfilling its non-compete commitments to Ningxia Building Materials and Tianshan Cement. The company issued a commitment letter in December 2017, originally planning to resolve competition issues within three years. It previously extended the deadline by three years in December 2020, and again by two years on August 9, 2024. The latest extension letter was issued on August 9, 2026, proposing to extend the performance period by another two years from the date each company's shareholders' meeting approves the resolution. The company stated that the business integration plan for its basic building materials segment needs to be advanced prudently, and previous extensions have all been approved by the relevant boards and shareholders' meetings. This extension does not affect the validity of other terms in the 2017 commitment letter.