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China National Building Material (3323) investor relations material
China National Building Material H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Revenue for the first half of 2025 was RMB83.28 billion, down 0.2% year-over-year, with net profit attributable to equity holders rebounding to RMB1.36 billion from a loss of RMB2.02 billion in the prior year period.
Basic earnings per share was RMB0.172, compared to a loss per share of RMB0.239 last year.
No interim dividend was declared for H1 2025; final dividend for FY2024 was RMB1.2 billion.
The Group executed a major H-share buyback, repurchasing and cancelling 841.7 million shares for HK$3.39 billion, about 10% of total share capital.
The Group completed significant acquisitions, including Inner Mongolia Hengke and Société Les Ciments de Jbel Oust, and increased its stake in China Jushi to 29.22%.
Financial highlights
Revenue: RMB83.28 billion (-0.2% YoY); Gross profit: RMB15.98 billion (+20.6% YoY); EBITDA: RMB15.34 billion (+47.8% YoY); adjusted EBITDA: RMB14.51 billion (up from RMB9.90 billion).
Net profit attributable to equity holders: RMB1.36 billion (vs. loss of RMB2.02 billion YoY); EPS: RMB0.172 (vs. -0.239 YoY).
Net cash from operating activities: RMB2.38 billion; capital expenditure: RMB14.05 billion.
Debt to assets ratio: 40.7% (up 1.9pp YoY); Net debt ratio: 93.1% (up 6.5pp YoY).
Total assets: RMB505.74 billion (+2.4% from Dec 2024); Net assets: RMB192.78 billion.
Outlook and guidance
The Group expects continued uncertainty in the external environment but sees opportunities in infrastructure demand, new materials, and green development.
Focus areas for the second half: operational efficiency, industry upgrades, reform deepening, and value management.
Plans to accelerate transformation in both basic building materials and strategic emerging industries, with emphasis on specialty cement, high-performance concrete, and internationalization.
No interim dividend is planned for the second half of 2025.
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