BBMG Corp Class A

BBMG Corporation released its 2026 interim report on August 28. Affected by deep adjustments in its two main businesses, cement and real estate, the company continued to post losses with a widening deficit, but operating cash flow turned significantly positive. During the reporting period, the company achieved operating revenue of 35.916 billion yuan, down 21.18 percent year on year. Net profit attributable to the parent company was negative 2.172 billion yuan, with the loss widening 45.22 percent year on year. Net profit after deducting non-recurring items was negative 2.429 billion yuan, with the loss widening 10.42 percent year on year. Net cash flow from operating activities was 2.678 billion yuan, a sharp turnaround from negative 1.538 billion yuan in the same period last year, mainly because the prior-year period saw large cash outflows from new land reserves, while this period the company focused on boosting sales and tightening cash collection. In terms of business structure, the green new building materials segment achieved main business revenue of 33.060 billion yuan, down 18.4 percent year on year, with total profit of negative 1.550 billion yuan, swinging from profit to loss year on year. Cement and clinker sales volume was 34.89 million tonnes, down 6.7 percent year on year, and the comprehensive gross margin was 12.39 percent, down 8.32 percentage points year on year. The property development and operation segment achieved main business revenue of 2.940 billion yuan, down 43.7 percent year on year, with total profit of negative 1.120 billion yuan, a year-on-year increase in losses of 370 million yuan. By accelerating the sell-down of projects such as Beijing Huaxi Yunjin, the company achieved cash collections of 7.920 billion yuan, up 21.9 percent year on year, and contract liabilities rose to 10.859 billion yuan. Looking ahead, the supply-demand imbalance in the cement industry is unlikely to ease fundamentally in the short term, the overall real estate market remains in a bottoming-out phase, and the company faces risks from raw material price fluctuations, rising environmental compliance costs, and accounts receivable recovery.

BBMG Corporation released its 2026 interim report, with total operating revenue of 35.916 billion yuan, down 21.18% year-on-year, and net profit attributable to the parent company of negative 2.172 billion yuan, with the loss widening by 676 million yuan compared with the same period last year. Net cash inflow from operating activities was 2.678 billion yuan, achieving growth for two consecutive years. The company's asset-liability ratio rose to 68.91%, gross margin fell to 9.58%, ROE was negative 3.25%, and diluted earnings per share was negative 0.25 yuan. The number of shareholders was 132,400, and the top ten shareholders held 73.86% of the total share capital.

BBMG disclosed its earnings forecast, expecting a net loss attributable to shareholders of 1.95 billion to 2.35 billion yuan in the first half of 2026, compared with a loss of 1.496 billion yuan in the same period last year. The net loss after deducting non-recurring items is expected to be 2.3 billion to 2.7 billion yuan, compared with a loss of 2.2 billion yuan a year earlier. The company said that its cement and clinker business was affected by declining industry demand, with product selling prices and sales volumes falling year-on-year. The decline in costs and expenses was insufficient to offset the impact of lower selling prices, leading to a year-on-year decrease in profit from cement-related operations. In the real estate business, by accelerating inventory destocking and precision marketing, cash collections and contracted sales increased year-on-year, while the issuance of the Smart Manufacturing Factory REIT also recognized related gains.