China National Building Material Co Ltd (3323) Fair Value & Analysis

Basic Materials · HK · Market cap HK$37.4B

Below-average quality, screening 134% undervalued on our models.

What matters now

• The large discount to fair value meets weak quality (40/100). That raises the risk this is a value trap rather than a bargain.
• The model range is unusually wide (HK$1.80 to HK$16.93). The outcome hinges heavily on assumptions, so read the point estimate with caution.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.

How to read this chart

60‑month range HK$1.90 – HK$9.31 · fair‑value band HK$1.80 – HK$16.93 · the HK$3.85 price screens below the HK$9.02 fair value. Dashed = 300-day average. As of Aug 19, 2026.

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Analysis

China National Building Material Co Ltd (3323) currently trades at HK$3.85, while our model-based Fair Value estimate is HK$9.02, implying the stock looks roughly 134.3% undervalued today. The Quality Score stands at 40/100 (below-average quality), in the Basic Materials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, China National Building Material Co Ltd generated revenue of HK$178B at a net margin of -1.9%. Revenue declined 5.7% year over year. It earns a return on equity of -0.5%. Net debt stands at HK$172B. Fundamentals as of Aug 19, 2026

Our scenario range runs from HK$1.80 (bear case) to HK$16.93 (bull case); at HK$3.85, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 45% below its 52-week high, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -60% fair-value upside, at 134%, 3323 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Widest divergence: Multiples (HK$13.17) versus Growth DCF (HK$1.41). Highest evidence: Growth DCF (80).

Key figures & financial health

Quality Score breakdown

About the company

China National Building Material Company Limited, an investment holding company, engages in building material, new materials, and engineering technical services businesses. The company operates through five segments: Cement, Concrete, New materials, Engineering Technology Services, and Others.

Full company description

China National Building Material Company Limited, an investment holding company, engages in building material, new materials, and engineering technical services businesses. The company operates through five segments: Cement, Concrete, New materials, Engineering Technology Services, and Others. It produces and sells cement, concrete, aggregate, and fibreglass, as well as composite and light building materials. The company also provides wind power blades, lithium battery separator, hydrogen energy storage and transportation equipment, carbon fiber, graphite powder, spherical graphite, and graphite anode materials; and engineering technology services to glass and cement manufacturers and equipment procurement. In addition, it is involved in the merchandise trading and other businesses, as well as operates a chain of warehouse; and offers procurement supply chain services. The company operates in the People's Republic of China, Europe, the Middle East, Asia, Oceania, Africa, the Americas, and internationally. China National Building Material Company Limited was founded in 2005 and is based in Beijing, the People's Republic of China.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

China National Building Material Co Ltd reported revenue of HK$178B in FY2025 versus HK$274B in FY2021, a compound −10.2%/yr. Reported net income was −HK$3.3B in FY2025.

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Peer Group

Building Materials · 258 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Valuation Multiples vs Building Materials median · lower = cheaper

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.