CNBM (03323.HK): Tianshan Material Under CSRC Probe, Ordered to Rectify

NewTimeSpace News: On 4 November 2026, China National Building Material Company Limited (stock code: 03323) announced that its subsidiary Tianshan Material Co., Ltd. (A-share stock code: 000877.SZ) has received a Notice of Investigation from the China Securities Regulatory Commission (CSRC), which has decided to open an investigation into Tianshan Material over suspected violations of laws and regulations relating to information disclosure.

Tianshan Material and the relevant individuals also received decisions on administrative regulatory measures from the CSRC's Xinjiang Regulatory Bureau. The decisions concern insufficient prudence in goodwill impairment testing for 2023 to 2025 and in provisioning for bad debts on accounts receivable, including an underprovision of RMB 21.0915 million for 2025, which resulted in inaccurate information disclosures. The bureau ordered Tianshan Material to take corrective action and issued warning letters to three relevant management personnel, requiring them to strengthen information disclosure management and to submit written rectification reports.

Tianshan Material said it will actively cooperate with the investigation and fulfil its disclosure obligations, and that all business operations and the performance of duties by directors and senior management remain normal, with no material impact on production and operations expected. CNBM said that, after assessment with its auditor, the matters covered by the administrative measures have no material impact on the Group's overall financial position and results.