21st Century Business Herald Reporter Yang Ping
On April 3rd, the first collective performance briefing of the Shenzhen Stock Exchange for the year 2025 was held in the listing hall of the Shenzhen Stock Exchange, themed &#34;Building a Solid Foundation and Strengthening the Hard Support for the Real Economy.&#34;
The management teams of listed companies under China National Building Material Group, including Tianshan Co., BNBMPLC, SINOMATECH, and Ruitai Technology, communicated face-to-face with investors, responding to market concerns regarding annual performance, industry trends, cost reduction and efficiency enhancement, international layout, and new business cultivation.
Through this communication meeting, it can be seen that, against the backdrop of the real estate chain still in an adjustment period and traditional building materials demand under pressure, these central enterprise listed platforms in the building materials sector are attempting to reshape the capital market's understanding of their growth logic through collaborative integration, structural upgrades, technological iteration, and overseas expansion.
At the meeting, the investors' most concerned questions were highly concentrated: When will traditional building materials demand stabilize? When will price competition ease? Is there still room for cost reduction and expense control? Can overseas business become a new growth driver? Can high-end materials and emerging tracks take over the baton of growth? The responses from multiple companies pointed to the same main line—while maintaining the basic market, they are accelerating the shift from &#34;scale competition&#34; to &#34;quality competition,&#34; and from single product output to system solutions and global operations.
Cost Reduction and Efficiency Enhancement Remain the &#34;Foundation&#34; to Cross the Cycle
Currently, the traditional building materials industry is still in an adjustment phase, facing pressure from declining demand and intensified market competition. Many enterprises under China National Building Material are directly confronting industry challenges, achieving cost reduction and efficiency enhancement through internal management to solidify their operational foundation.
Tianshan Co. stated that in 2025, affected by the overall industry environment, the company's operating performance is under pressure. However, through internal optimization and management, the company has achieved a decrease in sales costs for products such as cement and ready-mixed concrete, maintaining robust operating cash flow and demonstrating strong operational resilience.
BNBMPLC also admitted to the pressure of industry development. The company stated that in 2026, it will continue to promote the integration of the gypsum board business group around the &#34;one body and two wings, global layout&#34; strategy, solidifying the gypsum board foundation through price control, shared channel construction, production line transformation and upgrading, and technological integration. Along with the &#34;one cent&#34; cost-saving plan, centralized procurement at the supply chain center, organizational structure optimization, and digital upgrades, the company aims to transform cost control from isolated measures into a systematic project that spans the entire production, procurement, and management chain. In 2025, the company's financial expenses decreased by 60% year-on-year, which has become an intuitive reflection of its cost control effectiveness.
Ruitai Technology, relying on technological iteration and supply chain optimization, is steadily implementing cost reduction and efficiency enhancement measures through locking in core raw material resources, optimizing production processes, and promoting resource recycling.
This is a clear signal released by multiple companies during this collective briefing—before a comprehensive recovery appears on the demand side, companies' maintenance of profitability increasingly relies on internal potential tapping, collaborative integration, and cash flow management. This also means that industry competition is shifting from the past &#34;competing in scale and price&#34; to &#34;competing in organization, efficiency, and resilience.&#34;
If cost reduction and efficiency improvement address the issue of &#34;stability,&#34; then the transformation towards high-end products and the layout of new businesses relate to the future &#34;growth&#34; potential of these enterprises.
Ruitai Technology's expression of &#34;anti-involution&#34; is quite representative. The company stated that &#34;anti-involution&#34; does not reject normal competition but rather corrects the low-end homogenization and vicious price competition in the refractory materials industry. The industry is shifting from price competition to value competition and barrier competition. Based on this judgment, the company clearly proposed to strengthen its competitiveness from four dimensions: technological core barriers, product structural differentiation, supply chain and cost barriers, and service and ecological barriers. It will focus on high-value-added fields such as nuclear industry, new energy, semiconductors, special metallurgy, non-ferrous metals, and petrochemicals, promoting the upgrade of its business model from &#34;single product sales&#34; to &#34;systematic overall solutions.&#34; The company also stated that since 2026, demand has shown significant structural differentiation: traditional fields are mainly focused on maintenance of existing stock, while emerging fields continue to grow, with high-end refractory material demand remaining positive.
Sinoma Technology has demonstrated another transformation path. The company responded to market concerns regarding its three main businesses: fiberglass, wind turbine blades, and lithium battery separators, especially topics such as the expansion of special fiber cloth production, mass production of ultra-thin lithium membranes, and the construction of overseas bases. According to the company, its 5μm lithium membrane products have achieved mass production and become a major market supplier, while the second generation of 5μm ultra-thin high-strength base membrane products has been developed and is in the final testing phase, with mass production capabilities. In the field of special fibers, Taishan Fiberglass has been developing for 8 years, covering 4 categories of products and completing certification with leading customers. The company will actively expand the application scenarios of fiber composite materials in commercial aviation, new energy vehicles, hydrogen energy, wind power, and marine engineering.
BNBMPLC stated that it will continue to implement the &#34;one body, two wings, global layout&#34; development strategy, promoting four transformations: from public decoration to home decoration, from cities to counties and towns, from base materials to surface materials, and from products to services, accelerating the transformation into a comprehensive manufacturer and service provider of consumer building materials. The gypsum board business will continue to promote collaborative deepening and enhance industry control capabilities; the waterproof business will seize opportunities for industry ecological restoration and continuously improve profitability; the coatings business will focus on segmented fields and launch differentiated products for different scenarios.
Internationalization has shifted from an &#34;optional&#34; choice to a &#34;mandatory&#34; question.
During this presentation, internationalization became one of the core themes of corporate layout, with related businesses transitioning from early planning to a new stage of implementation and profit realization, becoming an important lever for companies to cope with domestic cyclical fluctuations.
Tianshan Co., Ltd. provided relatively intuitive data in this regard. The company stated that by 2025, international business revenue is expected to grow by 95.93% year-on-year, with total profit increasing by 136.71% year-on-year, and the gross profit margin of overseas business reaching 40.30%. During the reporting period, the company completed the acquisition of a project in Tunisia, initiated a greenfield project in Kazakhstan, and piloted a light asset operation project in Zimbabwe. Although the domestic cement industry is still troubled by declining demand, overseas business has already validated the profit potential of its internationalization strategy to some extent. At the same time, the company will continue to pay attention to the demand opportunities brought by major engineering projects in regions such as Xinjiang, leveraging its capacity network laid out in 13 prefectures and cities in Xinjiang and the advantages of products such as oil well cement and special cement to strive for more orders in national key project construction
BNBMPLC's internationalization approach emphasizes &#34;from point to area.&#34; The company has clearly stated that in the future, it will focus on four major regions: Southeast Asia, Central Asia, Africa, Europe, and the Mediterranean. In Southeast Asia, Central Asia, and Africa, the focus will be on greenfield construction, while in Europe and the Mediterranean region, investment and acquisition methods will be more prevalent. The company indicated that its production capacity in Tanzania, Uzbekistan, and Thailand has already been deployed, with the Thailand project achieving &#34;production and profitability in the same year.&#34; In its statement, internationalization is no longer limited to gypsum boards but will also promote the &#34;two wings&#34; businesses of waterproofing and coatings overseas when the opportunity arises.
At the exchange meeting, reporters also learned that the blade industry base of Sinoma Technology in Brazil has been fully put into production and has achieved stable delivery, while the Central Asia base has officially landed and is under construction. The company stated that it will accelerate the construction of overseas production bases and the development of overseas leading customers, while strengthening cooperation with domestic strategic customers and increasing the proportion of Chinese blades going overseas.
Ruitai Technology has also included &#34;enhancing brand international influence&#34; as one of this year's growth points, aligning it with business integration, three precision management, and green intelligent upgrades.
Attending executives generally believe that internationalization has become an important lever for Chinese building materials listed companies to cope with domestic cyclical fluctuations and reshape growth curves. In the past, overseas business was more viewed as incremental supplementation; now, it is increasingly taking on the functions of profit restoration, structural optimization, and valuation reshaping

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On April 3rd, the first collective performance briefing for the Shenzhen market in 2025 was held at the Shenzhen Stock Exchange, themed "Building a Solid Foundation and Taking Responsibility · Strengthening the Hard Support for the Real Economy." The management teams of several listed companies under China National Building Material Group communicated with investors to discuss annual performance, industry trends, and new business developments. Against the backdrop of adjustments in the real estate chain and pressure on traditional building material demand, companies are seeking new growth points through collaborative integration and technological upgrades. Investors are concerned about traditional building material demand, price competition, and overseas business development, while companies emphasize the shift from scale competition to quality competition, with cost reduction and efficiency enhancement as core strategies

腾讯新闻 - 财经

Triumph New Energy

SINOMATECH

NXBM

Sinoma-int

CCCCDC

Ruitai Technology

BNBMPLC

Guotai CSI All Share building Materials ETF

Fullgoal CSI All Share Building Materials ETF

E Fund CSI All Share Building Materials ETF

TSTC

The first collective performance briefing in the Shenzhen market: Enterprises under China National Building Material Group face cyclical pressure and seek new growth points