China National Building Material Flags Revenue Slump and Deeper Cash Outflows at Ningxia Unit
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China National Building Material Co (HK:3323) reported a 47.44% year-on-year decline in operating revenue for its subsidiary, Ningxia Building Materials, totaling RMB 461.4 million in Q1 2026. Despite narrowing losses and slight improvements in return on net assets, the subsidiary faced deeper negative cash flows and a modest decline in total assets. The net profit attributable to shareholders was a loss of RMB 4.5 million, indicating ongoing profitability and liquidity pressures. Analysts rate the stock as a Buy with a price target of HK$5.90.
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