Beixin Building Materials: Held an earnings presentation on March 26, with participation from multiple institutions including Southern Fund, Guolian Minsheng Securities, and others.

According to Securities Star, on March 26, 2026, Beixin Building Materials (000786) announced that it would hold a performance briefing on March 26, 2026, with participation from Southern Fund, Guolian Minsheng Securities, Zhongtai Securities, Ping An Securities, China Galaxy Securities, Everbright Securities, Guojin Securities, Guosen Securities, investors, E Fund, Changjiang Securities, Tianfeng Securities, Huatai Securities, Guotai Haitong Securities, GF Securities, Shenwan Hongyuan, and CITIC Securities.

The specific content is as follows:

Q: What is the development strategy for the company’s “one body, two wings” business in 2026?

A: In 2025, Beixin Building Materials promoted the revenue share of its two wings business to over 35% through internal development and external mergers and acquisitions, thereby opening up a second growth curve. In 2026, the company will continue to adhere to the “one body, two wings, global layout” strategy, supported by dual-driven internal and external development, continuously solidifying the gypsum board and gypsum board+ business, promoting the development of waterproof and coating businesses, and strengthening restructuring and integration. It will enhance internal resource collaboration and value sharing, further improving the quality of the company’s development.

Q: How will the profitability of the gypsum board business improve in 2026?

A: In 2026, the gypsum board business will deeply advance the operation of the gypsum board business group, adhering to the dynamic balance of “price, cost, and profit” and “volume, cost, and profit,” deepening cost control, and through new product development and channel optimization, expanding residential applications, focusing on the prefabricated interior decoration system, continuously exploring new market demands, and promoting quality and efficiency improvements in the gypsum board business.

Q: How will Longpai and Taishan gypsum boards maintain their competitive advantages?

A: First, while ensuring advantages in the public construction sector, we will strengthen the expansion of the home decoration market and increase sales of products like Guochao series. Second, we will establish a new marketing battlefield, creating one-stop procurement stores offline and collaborating with Jia Baoli for omnichannel marketing online to lay out for future development. Third, we will promote the upgrading of traditional channels, building core competitiveness through multi-channel collaboration to solidify industry-leading advantages.

Q: What is the outlook for the profitability of waterproof and coating businesses in 2026?

A: Currently, facing the dual pressures of intense market competition and rising raw material prices, leading companies have a strong motivation to promote improvements in the industry ecosystem. Meanwhile, leading companies have advantages in inventory management and operational control, with market resources continuing to concentrate on companies with advantages in R&D, manufacturing, branding, channels, and comprehensive service capabilities, further driving market concentration in the waterproof and coating industries. The company will continue to optimize its asset structure and operating costs, implement “three precision” management, balance scale, quality, and efficiency, and as the industry ecosystem improves, the profitability of the company’s waterproof and coating businesses will further optimize.

Q: How will the company balance capital expenditure and dividends in the future? Will the dividend payout ratio increase further?

A: The company values shareholder returns and shares development results with investors. Since its listing, it has completed a cumulative cash dividend of 9.509 billion yuan, and a profit distribution plan for 2025 has been formulated which will be submitted for shareholder meeting approval, raising the cash dividend amount to account for 40.12% of the net profit attributable to shareholders of the listed company for that year. The company will be guided by strategic development, adhere to investor-centric principles, balance long-term company development with shareholder interests, and effectively enhance investors’ sense of gain.

Beixin Building Materials (000786) focuses on three major product systems: gypsum board, waterproof systems, and coatings, strengthening and expanding gypsum board and gypsum board+ businesses, accelerating the growth of waterproof and coating businesses, and transforming into a comprehensive manufacturer and service provider of consumer building materials.

According to the 2025 annual report of Beixin Building Materials, the company’s main revenue for the year was 25.28 billion yuan, a year-on-year decrease of 2.09%; net profit attributable to the parent company was 2.906 billion yuan, a year-on-year decrease of 20.31%; net profit excluding non-recurring items was 2.78 billion yuan, a year-on-year decrease of 21.86%; in the fourth quarter of 2025, the company’s single-quarter main revenue was 5.375 billion yuan, a year-on-year decrease of 1.51%; single-quarter net profit attributable to the parent company was 320 million yuan, a year-on-year decrease of 36.22%; single-quarter net profit excluding non-recurring items was 249 million yuan, a year-on-year decrease of 49.07%; the debt ratio was 21.6%, investment income was 27.9573 million yuan, financial expenses were 28.2921 million yuan, and gross profit margin was 28.81%.

In the last 90 days, 8 institutions have rated the stock, with 6 buy ratings and 2 hold ratings; the average target price from institutions in the past 90 days is 29.09.

Here are the detailed profit forecast details:

Financing and margin trading data show that the stock has seen a net outflow of 217 million yuan in financing over the past 3 months, with financing balances decreasing; there has been a net inflow of 441,500 yuan in margin trading, with margin balances increasing.

The above content is organized by Securities Star based on public information and generated by AI algorithms (Internet Information License No. 310104345710301240019), and does not constitute investment advice.