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China's largest listed cement producer after a CNBM group merger, making cement, clinker and aggregates.
China's largest listed cement producer after a CNBM group merger, making cement, clinker and aggregates.
Sells cement and concrete by the tonne, with prices set by local supply as hauling costs limit how far cement travels, so a plant's region matters more than national demand. China National Building Material, the state group, controls it and merged its own cement assets in, making it much larger.
In one line: A Chinese Cemex/Holcim.
Moat: none (scale). Cement is a regional commodity; scale and logistics reach are the main advantage.
Headquarters: Urumqi, Xinjiang, China · Employees: 51,423
Size Tianshan Material (000877.SZ) is a China Materials company (Construction Materials) with a market value of $3.47B, the 747th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥3.25 on 6 Nov 2026.
Performance Over six months the shares fell 30.0%, against -6.3% for the median peer and -16.4% for the China market (cap-weighted) — 7th lowest of 20 in its peer set.
Growth Revenue fell 17.1% over the last twelve months (peer median +0.6%); the operating margin is -13.3% (peer median 10.9%).
Valuation It trades at 0.33× book value against a peer median of 1.16× (3rd cheapest of 21).
Price implies The share price implies a return on equity of about 3.5%; Tianshan Material delivers -14.4%, so the price asks more than the business earns today.
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥66.7B | CN¥74.2B | CN¥86.7B | CN¥107B | CN¥133B |
| Revenue growth | — | -14% | -19% | -19% | — |
| Gross profit | CN¥15.8B | CN¥11.2B | CN¥12.2B | CN¥14.9B | CN¥19.1B |
| EBITDA | n/a | CN¥11.8B | CN¥12.5B | CN¥15.5B | CN¥19.8B |
| Net income | -CN¥11.0B | -CN¥7.29B | -CN¥717M | CN¥1.97B | CN¥4.54B |
| Free cash flow | CN¥5.26B | CN¥7.73B | CN¥3.62B | CN¥6.64B | CN¥491M |
| Capital expenditure | CN¥3.89B | CN¥5.24B | CN¥9.14B | CN¥10.7B | CN¥15.6B |
| Total debt | CN¥132B | CN¥139B | CN¥144B | CN¥144B | CN¥138B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Tianshan Material 000877.SZ | $3.47B | -30% | -17% | -14% | 0.33× | 3.5% |
| Anhui Conch Cement 600585.SS | $13.9B | -12% | -8% | 2% | 0.51× | 3.4% |
| China National Building Material 3323.HK | $2.76B | -51% | 0% | -6% | 0.20× | 4.6% |
| Huaxin Building Materials 600801.SS | $7.16B | +28% | +16% | 11% | 1.66× | 10.8% |
| BBMG Jidong Cement 000401.SZ | $1.35B | -21% | -8% | -5% | 0.35× | 3.1% |
| West China Cement 2233.HK | $1.30B | -29% | -10% | 4% | 0.71× | 8.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 000877.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -12.2% | +4.4% | 3rd lowest of 21 |
| 6-month return | -30.0% | -6.3% | 7th lowest of 20 |
| Return on equity | -14.4% | 9.1% | 2nd lowest of 21 |
| Price / book | 0.33× | 1.16× | 3rd cheapest of 21 |
| ROE the price implies | 3.5% | 10.1% | 2nd least demanding of 21 |
| ROE delivered | -14.4% | 9.1% | 2nd lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Tianshan Material 000877.SZ | China | $3.47B | -30% | -17% | -14% | 0.33× | 3.5% | -14.4% |
| United States Lime & Minerals USLM | United States | $3.39B | +7% | +4% | 20% | 4.62× | 27.3% | 20.0% |
| Vicat VCT.PA | France | $3.29B | +6% | +5% | 10% | 0.98× | 8.9% | 10.0% |
| Knife River KNF | United States | $3.20B | -38% | +11% | 8% | 1.83× | 11.3% | 8.0% |
| Asia Cement 1102.TW | Taiwan | $3.92B | +5% | -10% | 7% | 0.70× | 2.9% | 7.4% |
| Taiheiyo Cement 5233.T | Japan | $3.03B | +19% | +1% | 4% | 0.68× | 6.6% | 4.1% |
| China National Building Material 3323.HK | Hong Kong | $2.76B | -51% | 0% | -6% | 0.20× | 4.6% | -6.0% |
| FangDa Carbon New Material 600516.SS | China | $2.74B | -20% | +17% | 0% | 1.05× | 9.7% | -0.4% |
| Beijing New Building Materials (Group) 000786.SZ | China | $4.41B | -33% | -3% | 8% | 1.05× | 8.5% | 8.1% |
| Cementir CEM.MI | Italy | $2.70B | +5% | -2% | 11% | 1.24× | 11.7% | 10.8% |
| Cementos Molins CMO.MC | Spain | $2.70B | n/a | +14% | 15% | 1.65× | 7.4% | 14.7% |
| FLSmidth & Co. A/S FLS.CO | Denmark | $4.88B | +22% | -20% | 15% | 2.87× | 12.6% | 15.1% |
| Imerys NK.PA | France | $2.41B | +11% | -2% | -15% | 0.81× | 8.6% | -14.9% |
| Eagle Materials EXP | United States | $5.71B | -12% | +2% | 25% | 3.91× | 35.6% | 24.5% |
| Titan America TTAM | United States | $2.08B | -32% | +5% | 17% | 1.91× | 16.5% | 17.4% |
| YOUNGY 002192.SZ | China | $2.03B | -52% | +315% | 38% | 2.70× | 36.3% | 38.0% |
| Sichuan Hexie Shuangma 000935.SZ | China | $1.98B | -35% | -14% | -3% | 1.74× | 18.4% | -3.1% |
| TCC 1101.TW | Taiwan | $6.09B | +11% | -6% | -4% | 0.85× | 3.9% | -4.1% |
| SigmaRoc SRC.L | United Kingdom | $1.95B | +14% | +4% | 11% | 1.71× | 22.8% | 11.1% |
| Gansu Shangfeng Materials 000672.SZ | China | $1.88B | -6% | -23% | 33% | 1.08× | 10.6% | 33.2% |
| BBMG 2009.HK | Hong Kong | $1.87B | -20% | -22% | -9% | 0.16× | 3.9% | -8.7% |