China National Building Material Company (3323) Q3 2025 earnings summary

Capital allocation and financing

• Completed issuance of a second tranche of corporate bonds in October 2025, raising RMB1 billion at a 1.93% coupon for three years.

• Issued multiple tranches of renewable corporate bonds in 2025, including RMB0.5 billion (type I, 3 years, 1.90%), RMB0.8 billion (type II, 5 years, 2.06%), RMB1 billion (type II, 5 years, 1.95%), RMB1.5 billion (type I, 3 years, 1.98%), RMB1.5 billion (type II, 5 years, 2.05%), and RMB2.1 billion (type I, 3 years, 2.10%).

Financial highlights

• Total operating revenue for the group was RMB133.44 billion for the nine months ended 30 September 2025, down slightly from RMB134.23 billion year-over-year.

• Net profit attributable to owners was RMB2.96 billion, compared to a net loss of RMB0.68 billion in the same period last year.

• Operating profit reached RMB8.15 billion, up from RMB3.03 billion year-over-year.

• Net cash flows from operating activities were RMB7.31 billion, slightly down from RMB7.58 billion year-over-year.

• Cash and cash equivalents at period end were RMB24.12 billion, up from RMB23.80 billion at the end of Q3 2024.

Key financial ratios and metrics

• Total assets increased to RMB508.73 billion as of 30 September 2025, up from RMB493.97 billion at year-end 2024.

• Total liabilities rose to RMB314.19 billion from RMB299.44 billion at year-end 2024.

• Owners' equity attributable to the company was RMB116.84 billion, down from RMB119.45 billion at year-end 2024.