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China National Building Material Co
(3323)
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Rating:43Neutral
Price Target:
HK$3.00
â–Ľ(-21.05% Downside)
Action:Reiterated
Date:10/16/26
The score is weighed down primarily by deteriorating fundamentals (multi-year revenue decline, 2025 net loss, and high leverage) and bearish technical trends (price below key moving averages with negative MACD). A high dividend yield offers partial support, but the negative P/E underscores profitability risk.
Positive Factors
Positive operating cash flow
Recurring positive operating cash flow indicates that the core business continues to generate liquidity even when reported earnings are weak. This supports ongoing operations and debt servicing, while providing some internal funding capacity, although the quality of cash conversion remains uneven.
Negative Factors
Sustained revenue decline
Four consecutive years of revenue contraction indicate a persistent weakening in the company’s top-line trajectory rather than a single-period setback. Continued decline can reduce operating leverage, limit reinvestment capacity, and make it harder to absorb fixed production and distribution costs.
Read all positive and negative factors
Positive Factors
Negative Factors
Positive operating cash flow
Recurring positive operating cash flow indicates that the core business continues to generate liquidity even when reported earnings are weak. This supports ongoing operations and debt servicing, while providing some internal funding capacity, although the quality of cash conversion remains uneven.
Read all positive factors
China National Building Material Co (3323) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$21.60B
Dividend Yield6.02%
Average Volume (3M)31.74M
Price to Earnings (P/E)―
Beta (1Y)0.61
Revenue Growth0.12%
EPS Growth-214.59%
CountryHK
Employees129,594
SectorBasic Materials
Sector Strength58
IndustryConstruction Materials
Share Statistics
EPS (TTM)-1.10
Shares Outstanding3,716,397,200
10 Day Avg. Volume22,801,848
30 Day Avg. Volume31,742,920
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)0.32
Price to Sales (P/S)0.20
P/FCF Ratio4.28
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$5.79Price Target Upside52.37% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)0.13
Revenue Forecast (FY)HK$176.54B
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 makes money mainly by selling building materials, with its core revenue stream coming from the manufacture and sale of cement and clinker to downstream customers such as construction companies, concrete producers, and infrastructure pr...
China National Building Material Co Financial Statement Overview
Summary
Income Statement
36
Negative
Balance Sheet
44
Neutral
Cash Flow
53
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 174.93B | 177.85B | 181.30B | 210.22B | 233.88B | 275.62B |
| Gross Profit | 30.31B | 33.25B | 32.71B | 37.45B | 39.84B | 65.73B |
| EBITDA | 21.04B | 23.74B | 23.93B | 28.85B | 30.89B | 51.29B |
| Net Income | -5.57B | -3.35B | 2.90B | 4.41B | 8.82B | 17.09B |
Balance Sheet | ||||||
| Total Assets | 501.34B | 489.54B | 494.01B | 488.90B | 482.47B | 462.54B |
| Cash, Cash Equivalents and Short-Term Investments | 36.05B | 30.34B | 32.96B | 37.37B | 35.06B | 35.52B |
| Total Debt | 242.93B | 195.38B | 194.48B | 187.03B | 176.29B | 169.81B |
| Total Liabilities | 333.97B | 303.13B | 299.48B | 295.38B | 290.13B | 283.92B |
| Stockholders Equity | 92.60B | 110.67B | 119.44B | 123.16B | 123.15B | 118.68B |
Cash Flow | ||||||
| Free Cash Flow | -10.24B | 8.16B | 1.40B | 6.98B | -4.72B | 13.16B |
| Operating Cash Flow | 3.10B | 22.52B | 23.20B | 29.02B | 26.35B | 50.09B |
| Investing Cash Flow | -8.15B | -9.37B | -20.28B | -27.34B | -25.68B | -35.61B |
| Financing Cash Flow | -3.03B | -12.82B | -6.57B | -1.08B | -2.18B | -16.72B |
China National Building Material Co Technical Analysis
Negative
3.80
Price Trends
3.27
Negative
3.85
Negative
4.58
Negative
Market Momentum
-0.13
Negative
34.75
Neutral
26.85
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3323, the sentiment is Negative. The current price of 3.8 is above the 20-day moving average (MA) of 2.99, above the 50-day MA of 3.27, and below the 200-day MA of 4.58, indicating a bearish trend. The MACD of -0.13 indicates Negative momentum. The RSI at 34.75 is Neutral, neither overbought nor oversold. The STOCH value of 26.85 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
66 Neutral | HK$106.32B | 21.08 | 2.37% | 4.96% | -6.86% | -26.49% | |
63 Neutral | HK$44.21B | 12.81 | 10.68% | 4.14% | 21.63% | 18.61% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
50 Neutral | HK$739.99M | 2.14 | 1.79% | 2.05% | ― | ― | |
48 Neutral | HK$1.09B | -0.62 | -8.62% | 3.22% | -23.06% | -1157.34% | |
48 Neutral | HK$9.78B | 16.46 | 4.02% | 3.07% | -10.09% | -45.87% | |
43 Neutral | HK$21.60B | -2.19 | -5.48% | 6.02% | 0.12% | -214.59% |
* Basic Materials Sector Average
HK:3323
China National Building Material Co
2.85
-2.57
-47.51%
HK:0914
Anhui Conch Cement Company
17.12
-5.07
-22.87%
HK:0691
China Shanshui Cement Group
0.25
-0.46
-64.79%
HK:2233
West China Cement
1.79
-1.17
-39.57%
HK:1252
China Tianrui Group Cement Co., Ltd.
0.24
-0.08
-23.81%
HK:6655
Huaxin Cement Co., Ltd. Class H
14.84
-2.51
-14.48%
China National Building Material Co Corporate Events
China National Building Material flags sharp swing to loss on weaker cement markets
Oct 14, 2026
China National Building Material warned that it expects to post an unaudited loss of about RMB760 million attributable to equity holders for the nine months ended 30 September 2026, compared with a profit of roughly RMB2,960 million a year earlier...
China National Building Material Sets Board Meeting to Approve Q3 2026 Results
Oct 12, 2026
China National Building Material Company Limited will convene a board meeting in Beijing on 23 October 2026 to review and approve its third-quarter results for the nine months ended 30 September 2026. The meeting will also address other board busi...
CNBM Details Connected Share Subscription and Deemed Disposal at Sinoma Unit
Oct 8, 2026
China National Building Material Co. has detailed the outcome of a private placing of new shares by its A‑share listed subsidiary, Sinoma Science Technology, on the Shenzhen Stock Exchange. The placement was approved by Sinoma Science Tech...
China National Building Material Vice President Retires, Board Affirms Governance Stability
Sep 2, 2026
China National Building Material Company Limited has announced the resignation of vice president Liu Biao, effective 2 September 2026, citing retirement as the reason. The board stated that Liu has no disagreement with the company and expressed gr...
China National Building Material Swings to Interim Loss as Revenue Declines
Aug 27, 2026
China National Building Material Co., a major PRC-based producer of cement, glass, and other construction materials, serves the domestic infrastructure and property sectors while accessing international investors through its Hong Kong listing. Its...
China National Building Material Announces Chairman’s Resignation and Interim Succession Plan
Aug 27, 2026
China National Building Material Company Limited, a PRC-based joint stock company listed in Hong Kong, operates in the building materials sector serving construction and infrastructure demand. It is governed by a mixed board of executive, non-exec...
China National Building Material Sets Out New Board and Committee Structure
Aug 27, 2026
China National Building Material Company Limited is a joint stock company incorporated in the People’s Republic of China, operating in the building materials sector. The group is led operationally by President Wei Rushan, who is authorised t...
China National Building Material Subsidiary Suffers Profit Slump in First Half 2026
Aug 25, 2026
China National Building Material’s subsidiary Ningxia Building Materials reported a sharp downturn for the six months ended 30 June 2026, with operating revenue falling 37.95% year-on-year to RMB 1.59 billion and net profit attributable to s...
Tianshan Material Posts Deepening Losses as Revenue Drops in First Half 2026
Aug 25, 2026
Tianshan Material Co., Ltd., a Shenzhen-listed subsidiary of China National Building Material Company Limited, reported a sharp deterioration in financial performance for the six months ended 30 June 2026. The building materials producer saw its o...
Sinoma International’s First-Half 2026 Profit Slumps Despite Asset Growth
Aug 25, 2026
Sinoma International, the engineering subsidiary of China National Building Material Company Limited listed in Shanghai, reported modest asset growth but weaker equity for shareholders in the first half of 2026. Total assets rose 2.82% year on yea...
BNBM First-Half 2026 Profit Drops as Revenue and Margins Weaken
Aug 20, 2026
BNBM reported a decline in performance for the six months ended 30 June 2026, with operating revenue falling 6.84% year-on-year to RMB 12.63 billion and net profit attributable to shareholders dropping 28.72% to RMB 1.38 billion. Core profitabilit...
Sinoma Science & Technology Delivers Strong H1 2026 Earnings Amid Negative Operating Cash Flow
Aug 17, 2026
Sinoma Science Technology, a Shenzhen-listed subsidiary of China National Building Material, reported solid top-line and earnings growth for the six months ended 30 June 2026, underscoring the strength of its advanced materials franchise. Operati...
China National Building Material Sets August Board Meeting for Interim Results and Dividend Review
Aug 17, 2026
China National Building Material Company Limited has scheduled a board meeting for 27 August 2026 to review and approve the interim financial results for the six months ended 30 June 2026. The Board will also consider the declaration of an interim...
CNBM Boosts Capital in Sinoma Advanced Through Connected Transaction
Aug 14, 2026
China National Building Material Co has disclosed a connected transaction involving a fresh capital injection into Sinoma Advanced, an associated company within its advanced materials arm. Sinoma Advanced will receive approximately RMB98.34 millio...
CNBM Extends Non-Competition Commitments to Listed Cement Subsidiaries
Aug 9, 2026
China National Building Material has issued new notification letters to its listed subsidiaries Ningxia Building Materials and Tianshan Material, further extending the timeframe for performing its non-competition undertakings first made in 2017. T...
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.