Beijing New Building Materials (000786) H2 2025 earnings summary

Executive summary

• Revenue for 2025 was ¥25.28 billion, down 2.09% year-over-year; net profit attributable to shareholders was ¥2.91 billion, down 20.31%.

• Gross margin declined, and net profit margin was impacted by lower sales and increased expenses.

• The company maintained its industry leadership in gypsum board, expanded in waterproofing and coatings, and continued global expansion.

• Cash dividend of ¥6.85 per 10 shares proposed, with a payout ratio of 40.12%.

Financial highlights

• Operating income: ¥25.28 billion, down 2.09% year-over-year.

• Net profit attributable to shareholders: ¥2.91 billion, down 20.31% year-over-year.

• Operating cash flow: ¥4.20 billion, down 18.12% year-over-year.

• Basic EPS: ¥1.717, down 20.47% year-over-year.

• Gross margin for gypsum board: 36.90%; for waterproofing: 16.20%; for coatings: 32.42%.

Outlook and guidance

• Strategic focus remains on “One Body, Two Wings, Global Layout” with continued investment in gypsum board, waterproofing, and coatings.

• 2026 plan includes strengthening core businesses, driving international growth, and enhancing operational efficiency.

• Emphasis on innovation, digital transformation, and risk management to improve profitability.