China: Beijing New Building Materials’ (BNBM) operating revenue increased by 11% year-on-year to US$3.10bn in 2023 from US$2.79bn in 2022. Its net profit rose by 32% to US$483m from US$367m. Its sales volumes of gypsum wallboard rose by 4% to 2.17Bnm2 from 2.09Bnm2. This compares to total national sales of 3.21Bnm2. The company is the largest seller of wallboard in China.
The subsidiary of CNBM reported that the country has a wallboard production capacity of 4.95Bnm2/yr, using data from Gypsum Building Materials Branch of the China Building Materials Federation, although 280Mm2/yr of this is classified as ‘backward and uncompetitive.’ It also added that the National Development and Reform Commission proposed in February 2024 that China phase out wallboard production lines with a capacity below 10Mm2/yr as part of the country’s plans to become net zero by 2060.
