Research Express | Beixin Building Materials Receives Over 16 Institutional Surveys Including Southern Fund; Dividend Rate Increased to 40.12% | Detailed Explanation of the "One Body, Two Wings" Strategy

On March 26, Beixin Building Materials held a performance briefing for the year 2025, accepting research from over 16 institutions and individual investors, including Southern Fund, E Fund, Changjiang Securities, and Tianfeng Securities (rights protection). The company’s management engaged in in-depth discussions with investors on key topics such as the advancement of the “one body, two wings” strategy, the improvement of core business profitability, and shareholder returns.

Basic Information on Investor Activities

Category of Investor Activity: Performance Briefing
Time: March 26, 2026 (Thursday) 15:00-16:00
Location: Company conference room and entrance platform (mobile: “Entrance” APP or “Entrance Platform” mini-program; computer:
Participating Institutions: Southern Fund, E Fund, Changjiang Securities, Tianfeng Securities, Huatai Securities, Guotai Junan Securities, GF Securities, Shenwan Hongyuan, CITIC Securities, Guolian Minsheng Securities, Zhongtai Securities, Ping An Securities, China Galaxy Securities, Everbright Securities, Guojin Securities, Guoxin Securities, and other institutions and individual investors
Listed Company Reception Personnel: Mr. Management, Chairman and General Manager, Mr. Zhang Kun, Independent Director, Ms. Li Chang, Vice President and Board Secretary, Mr. Wang Jiachuan, Financial Responsible Person (CFO)

Key Discussion Points on Core Topics

Deepening the “One Body, Two Wings” Strategy: Dual-Driven Growth through Internal and External Development in 2026

The company introduced that in 2025, through internal development and external mergers and acquisitions, the revenue proportion of the two wings (waterproofing and coatings) has exceeded 35%, successfully establishing a second growth curve. In 2026, it will continue to promote the “one body, two wings, global layout” strategy, with internal and external dual-driven development as the core: on one hand, consolidating the industry-leading position of the gypsum board and “gypsum board +” businesses, and on the other hand, accelerating the development of waterproofing and coatings businesses, enhancing restructuring and integration; at the same time, deepening internal resource synergy and value sharing, improving overall development quality.

Gypsum Board Business: Multi-Dimensional Enhancement of Profitability

Regarding the profitability enhancement path for the gypsum board business in 2026, the company stated it will deepen the operation of the gypsum board business group and implement a dynamic balance strategy of “price-cost-profit” and “volume-cost-profit.” Specific measures include: deepening cost control across the entire chain, reducing production costs through process optimization and supply chain efficiency improvements; increasing efforts in new product research and development and channel optimization, focusing on expanding the residential application market, enhancing the prefabricated interior system, and simultaneously increasing sales of national trend series products to drive profitability through product structure upgrades.

Waterproofing and Coatings Business: Profit Optimization Amid Industry Concentration

Regarding the profit outlook for the waterproofing and coatings businesses, the company pointed out that the industry currently faces dual pressures from intensified market competition and rising raw material prices, but leading enterprises have significant momentum in promoting industry ecological improvement. With advantages in inventory management, operational efficiency, and other areas, market resources are accelerating towards leading enterprises with research and development, manufacturing, branding, channels, and comprehensive service capabilities, driving industry concentration improvement. The company will optimize its asset structure and implement “three precision” management (refinement, accuracy, lean) to balance scale and efficiency, and with the improvement of the industry ecology, the profitability of the waterproofing and coatings businesses is expected to continue to be optimized.

Shareholder Returns: Dividend Rate Increased to 40.12%, Balancing Development and Interests

Regarding shareholder returns, the company emphasized the importance of sharing development results with investors. Data shows that since its listing, the company has accumulated cash dividends of 9.509 billion yuan; the profit distribution plan for 2025 has been formulated, with the cash dividend amount accounting for 40.12% of the net profit attributable to the shareholders of the listed company for that year, and this plan will be submitted to the shareholders’ meeting for review. The company stated that in the future, it will be guided by strategic development, balancing long-term development and shareholder interests, effectively enhancing investors’ sense of gain.

(The above content is based on the announcement of Beixin Building Materials’ investor relations activities on March 26, 2026)

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Editor: Xiao Lang Quick Report