China Resources Building Materials Earnings: Lower Margin Forecast Results in 24% Cut to Fair Value
China Resources Building Materials' revenue declined 15% in the first half of 2026. Gross margin fell to 8.3% from 18.5% a year ago due to lower cement, concrete, and aggregates selling prices, resulting in an operating loss of CNY 393 million. The interim dividend remained at HKD 0.014 per share.