---
title: "Tianshan Material Q1 Losses Deepen as Revenue and Cash Flow Deteriorate"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/284243974.md"
description: "Tianshan Material, a subsidiary of China National Building Material, reported a significant decline in Q1 2026 performance. Operating revenue dropped 17.48% year-on-year to RMB 12.33 billion, with a net loss of RMB –1.49 billion. Cash flow from operations worsened to an outflow of RMB 3.33 billion, down 54.17% from the previous year. Despite a slight increase in total assets, net assets attributable to shareholders fell by 1.83%. Analysts rate the stock as a Buy with a target price of HK$5.90."
datetime: "2026-04-27T15:17:08.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/284243974.md)
  - [en](https://longbridge.com/en/news/284243974.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/284243974.md)
---

# Tianshan Material Q1 Losses Deepen as Revenue and Cash Flow Deteriorate

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China National Building Material Co ( (HK:3323) ) has provided an update.

China National Building Material has reported first‑quarter 2026 figures for its listed subsidiary Tianshan Material, showing a sharp deterioration in operating performance. Operating revenue fell 17.48% year on year to RMB 12.33 billion, while net profit attributable to shareholders remained deeply negative at RMB –1.49 billion, and losses after excluding extraordinary items widened further.

Tianshan Material’s net cash flow from operating activities worsened to an outflow of RMB 3.33 billion, down 54.17% from a year earlier, underscoring ongoing pressure on cash generation. Total assets inched up 2.23% to RMB 282.10 billion but net assets attributable to shareholders slipped 1.83%, indicating that continued losses are eroding equity despite balance‑sheet expansion.

The most recent analyst rating on (HK:3323) stock is a Buy with a HK$5.90 price target. To see the full list of analyst forecasts on China National Building Material Co stock, see the HK:3323 Stock Forecast page.

**More about China National Building Material Co**

China National Building Material Company Limited is a major Chinese building materials group with operations spanning cement and related construction materials. Its subsidiary Tianshan Material Co., Ltd., whose A shares trade on the Shenzhen Stock Exchange, forms a significant part of the group’s cement and materials business in mainland China.

**Average Trading Volume:** 44,829,694

**Technical Sentiment Signal:** Buy

**Current Market Cap:** HK$38.19B

For a thorough assessment of 3323 stock, go to TipRanks’ Stock Analysis page.

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