China National Building Material Co Ltd Class H (HK:3323)
:3323
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China National Building Material Co
(3323)
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Rating:48Neutral
Price Target:
HK$6.00
â–¼(-0.33% Downside)
Action:Reiterated
Date:06/26/26
The score is held down primarily by deteriorating fundamentals (multi-year revenue decline, 2025 net loss) and elevated leverage, despite resilient operating cash flow. Technicals are a relative positive with the stock trading above major moving averages and neutral momentum. Valuation is mixed: a moderate dividend yield is supportive, but the negative P/E reflects loss-making performance.
Positive Factors
Stable operating cash generation
Consistent positive operating cash flow provides a durable liquidity buffer independent of accounting earnings. Over 2–6 months this reduces short-term financing needs, supports working capital and selective capex, and improves the company’s ability to cover interest and sustain operations during cyclical construction demand.
Negative Factors
Multi-year revenue decline & net loss
Sustained revenue decline and a recent net loss reflect weakened demand or market share erosion, reducing operating leverage and capacity utilization. Over months this constrains margin recovery, undermines profitability trends and raises execution risk for any turnaround given heavy fixed-cost base in materials production.
Read all positive and negative factors
Positive Factors
Negative Factors
Stable operating cash generation
Consistent positive operating cash flow provides a durable liquidity buffer independent of accounting earnings. Over 2–6 months this reduces short-term financing needs, supports working capital and selective capex, and improves the company’s ability to cover interest and sustain operations during cyclical construction demand.
Read all positive factors
China National Building Material Co (3323) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$43.36B
Dividend Yield3.3%
Average Volume (3M)23.56M
Price to Earnings (P/E)―
Beta (1Y)1.40
Revenue Growth-2.13%
EPS Growth-279.50%
CountryHK
Employees139,519
SectorBasic Materials
Sector Strength58
IndustryConstruction Materials
Share Statistics
EPS (TTM)-0.44
Shares Outstanding3,716,397,200
10 Day Avg. Volume21,056,411
30 Day Avg. Volume23,558,765
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)0.35
Price to Sales (P/S)0.22
P/FCF Ratio4.77
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$6.50Price Target Upside8.04% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)0.59
Revenue Forecast (FY)HK$183.21B
China National Building Material Co Business Overview & Revenue Model
Company Description
China National Building Material Company Limited operates as an investment holding company, primarily focusing its efforts on the building materials sector, the development of advanced new materials, and the delivery of engineering technical servi...
How the Company Makes Money
The company primarily makes money by selling building materials and providing related services across multiple product lines. A major revenue stream comes from cement and clinker sales to construction companies, infrastructure projects, and buildi...
China National Building Material Co Financial Statement Overview
Summary
Income Statement
36
Negative
Balance Sheet
44
Neutral
Cash Flow
53
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 177.85B | 181.30B | 210.22B | 233.88B | 273.68B |
| Gross Profit | 33.25B | 32.71B | 37.45B | 39.84B | 65.73B |
| EBITDA | 22.30B | 30.80B | 26.54B | 28.36B | 56.67B |
| Net Income | -3.35B | 2.90B | 4.41B | 8.82B | 17.09B |
Balance Sheet | |||||
| Total Assets | 489.54B | 494.01B | 488.90B | 482.47B | 462.54B |
| Cash, Cash Equivalents and Short-Term Investments | 30.34B | 32.96B | 37.37B | 35.06B | 35.52B |
| Total Debt | 195.38B | 194.48B | 187.03B | 176.29B | 169.81B |
| Total Liabilities | 303.13B | 299.48B | 295.38B | 290.13B | 283.92B |
| Stockholders Equity | 110.67B | 119.44B | 123.16B | 123.15B | 118.68B |
Cash Flow | |||||
| Free Cash Flow | 8.16B | 1.40B | 6.98B | -4.72B | 13.16B |
| Operating Cash Flow | 22.52B | 23.20B | 29.02B | 26.35B | 50.09B |
| Investing Cash Flow | -9.37B | -20.28B | -27.34B | -25.68B | -35.61B |
| Financing Cash Flow | -12.82B | -6.57B | -1.08B | -2.18B | -16.72B |
China National Building Material Co Technical Analysis
6.02
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3323, the sentiment is undefined. The current price of 6.02 is equal to the 20-day moving average (MA) of ―, equal to the 50-day MA of ―, and equal to the 200-day MA of ―, indicating a neutral trend. The MACD of ― indicates undefined momentum. The RSI at ― is undefined, neither overbought nor oversold. The STOCH value of ― is undefined, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a undefined sentiment for HK:3323.
China National Building Material Co Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | HK$34.52B | 10.82 | 10.24% | 4.82% | 10.08% | 33.29% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
61 Neutral | HK$100.71B | 11.68 | 4.06% | 4.59% | -9.32% | 5.05% | |
53 Neutral | HK$7.54B | 7.30 | 6.93% | 1.29% | 15.17% | 39.36% | |
48 Neutral | HK$43.36B | -11.25 | -2.95% | 3.30% | -2.13% | -279.50% | |
48 Neutral | HK$739.99M | 1.88 | 2.06% | ― | 0.18% | ― | |
45 Neutral | HK$1.26B | -1.11 | -5.53% | ― | -20.28% | -604.87% |
* Basic Materials Sector Average
HK:3323
China National Building Material Co
5.71
2.09
57.60%
HK:0914
Anhui Conch Cement Company
16.90
-2.12
-11.16%
HK:0691
China Shanshui Cement Group
0.29
-0.19
-39.58%
HK:2233
West China Cement
1.38
-0.09
-6.19%
HK:1252
China Tianrui Group Cement Co., Ltd.
0.24
-0.05
-17.24%
HK:6655
Huaxin Cement Co., Ltd. Class H
11.72
3.24
38.16%
China National Building Material Co Corporate Events
China National Building Material Seeks Five-Year Extension to Resolve Industry Competition via Restructuring
May 13, 2026
China National Building Material said it has again extended the timeline for fulfilling a non-competition undertaking given to its subsidiary Sinoma Science Technology and associate China Jushi, originally set out in 2017 and repeatedly prolonged...
China National Building Material Details Bond Issuances and Q1 2026 Disclosure
Apr 29, 2026
China National Building Material Co has detailed its recent bond issuance activities and first-quarter 2026 financial disclosure arrangements in line with PRC regulatory requirements. Since receiving approval in August 2025 to issue up to RMB20 bi...
CNBM Shareholders Approve 2025 Results, Dividend Plan and Board Mandate at AGM
Apr 29, 2026
China National Building Material reported that its annual general meeting, H shareholders’ class meeting and domestic shareholders’ class meeting were duly convened in Beijing on 29 April 2026 in compliance with PRC company law and the...
China National Building Material Updates 2025 Final Dividend and Tax Arrangements
Apr 29, 2026
China National Building Material Company Limited has updated its final dividend for the year ended 31 December 2025, confirming a payout of RMB 0.15 per share, equivalent to HKD 0.1712 per share based on an exchange rate of RMB 1 to HKD 1.1415. Th...
China National Building Material Subsidiary BNBM Posts Slight Q1 Profit Decline Amid Weaker Cash Flow
Apr 28, 2026
China National Building Material Company Limited reported first-quarter 2026 results for its subsidiary Beijing New Building Materials, showing modest year-on-year declines in revenue and profitability. Operating revenue slipped 1.32% to RMB 6.16 ...
Sinoma International Q1 2026 Profit Drops Despite Asset Growth
Apr 28, 2026
Sinoma International, the engineering subsidiary of China National Building Material, reported weaker first-quarter 2026 results, with operating revenue down 6.3% year-on-year to RMB 9.50 billion. Net profit attributable to shareholders fell 31.4%...
Tianshan Material Q1 Losses Deepen as Revenue and Cash Flow Deteriorate
Apr 27, 2026
China National Building Material has reported first‑quarter 2026 figures for its listed subsidiary Tianshan Material, showing a sharp deterioration in operating performance. Operating revenue fell 17.48% year on year to RMB 12.33 billion, wh...
China National Building Material Flags Revenue Slump and Deeper Cash Outflows at Ningxia Unit
Apr 24, 2026
China National Building Material has reported first-quarter 2026 figures for its Shanghai-listed subsidiary Ningxia Building Materials, showing operating revenue plunging 47.44% year on year to RMB 461.4 million amid continued weakness in the buil...
Sinoma Science & Technology Posts Strong Profit Growth but Cash Flow Turns Deeply Negative
Apr 24, 2026
Sinoma Science Technology, a subsidiary of China National Building Material Company Limited focused on advanced materials, reported strong top- and bottom-line growth for the quarter ended 31 March 2026. Operating revenue rose 24.5% year on year ...
China National Building Material names Miao Xiaoling joint company secretary with HKEX waiver
Apr 20, 2026
China National Building Material Company Limited has appointed executive director and board secretary Miao Xiaoling as joint company secretary, following the earlier resignation of Pei Hongyan, with former joint company secretary Chung Ming Fai co...
China National Building Material Flags Sharply Narrowed Q1 Loss on Stronger Advanced Materials
Apr 17, 2026
China National Building Material said it expects to narrow its unaudited loss attributable to equity holders to about RMB170 million for the first quarter of 2026, from a loss of roughly RMB517 million a year earlier. The improvement is mainly dri...
CNBM Sets Board Meeting to Approve First-Quarter 2026 Results
Apr 17, 2026
China National Building Material Company Limited has scheduled a board meeting for 29 April 2026 to review and approve the first-quarter results for the three months ended 31 March 2026. The meeting will also address other business matters, unders...
China National Building Material Sets 2026 AGM to Approve Dividend Plans and Share Issue Mandate
Mar 31, 2026
China National Building Material has called its annual general meeting for 29 April 2026 in Beijing, where shareholders will review the board, supervisory committee and auditor reports, and the audited financial statements for 2025. The meeting wi...
China National Building Material Seeks H-Share Buyback Mandate From Investors
Mar 31, 2026
China National Building Material Company Limited has called a class meeting of its H shareholders in Beijing on 29 April 2026 to vote on a special resolution granting the board authority to repurchase up to 10% of the company’s H shares in i...
China National Building Material Seeks Mandate for 10% H-Share Buyback
Mar 31, 2026
China National Building Material Company Limited has convened a domestic shareholders’ class meeting for 29 April 2026 in Beijing to vote on a special resolution granting its board a general mandate to repurchase up to 10% of the companyR...
CNBM Subsidiary Tianshan Material Restates Accounts Without Group-Level Impact
Mar 31, 2026
China National Building Material has disclosed that its subsidiary Tianshan Material identified flaws in how a cement unit recognized asset disposal gains under Chinese Accounting Standards, prompting a retrospective accounting correction. The res...
Tianshan Material Swings to Heavy 2025 Loss as Revenue and Assets Decline
Mar 31, 2026
China National Building Material has disclosed key 2025 financial metrics for its Shenzhen-listed subsidiary Tianshan Material, showing a sharp deterioration in profitability despite maintaining a sizeable asset base. Total assets at Tianshan Mate...
China National Building Material Proposes 2025 Final Dividend With Detailed Tax Rules
Mar 30, 2026
China National Building Material Company Limited has proposed a final ordinary dividend of RMB 0.15 per share for the financial year ended 31 December 2025, subject to shareholder approval on 29 April 2026. The dividend for H shareholders will be ...
China National Building Material Swings to 2025 Loss but Maintains Dividend
Mar 30, 2026
China National Building Material Co. reported audited consolidated operating revenue of RMB177.85 billion for 2025, down 1.9% year on year, as pressure on sales and higher administrative and impairment costs weighed on performance. The group swung...
China National Building Material Reshuffles Board Secretariat and Authorised Representatives
Mar 30, 2026
China National Building Material announced that Ms. Pei Hongyan has resigned as secretary of the Board, joint company secretary and authorised representative with effect from 30 March 2026, citing work adjustments and confirming no disagreement wi...
China National Building Material Vice President Resigns in Routine Management Change
Mar 30, 2026
China National Building Material Company Limited announced the resignation of vice president Cai Guobin, effective 30 March 2026, citing work adjustments as the reason. The board said Cai has no disagreement with the company or its directors and n...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.