HK Stock Market Move | CNBM (03323) falls over 2%; net loss attributable to shareholders of RMB728 million in the first three quarters; decline in basic building materials ASP drags down core performance growth.

CNBM (03323) fell over 2%, down 2.26% as of press time to HK$2.81, with turnover of HK$62.6333 million. On the news front, CNBM recently announced that for January-September 2026, total operating revenue was RMB129.985 billion, down 2.6% year-on-year; net loss attributable to owners of the parent company was RMB728 million, compared with a profit of RMB2.96 billion in the same period last year. Huatai noted that CNBM's consolidated gross margin for the first three quarters of 2026 was 18.1%, down 2.8 percentage points year-on-year, mainly due to year-on-year and quarter-on-quarter declines in ASP for basic building materials businesses such as cement clinker, concrete and aggregates. Although the company achieved unit cost reductions through cost-cutting and efficiency-enhancement efforts, these were still unable to offset the decline in prices. Pressure on the basic building materials business caused the company's total profit for the first three quarters to fall 71.1% year-on-year to RMB2.34 billion; in addition, because the company's large new materials business is concentrated in non-wholly-owned subsidiaries, income tax expense/minority interest income was RMB1.54 billion/RMB1.53 billion, basically flat year-on-year/down 57.7%, a smaller decline than that of total profit, dragging down net profit attributable to the parent into a loss.