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Zhongtian Construction (2433) investor relations material
Zhongtian Construction H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
H1 2026 revenue was RMB321.0m, down 7.4% YoY; gross profit fell to RMB32.2m and gross margin to 10.0%.
Loss attributable to owners widened to RMB85.8m from RMB18.4m, mainly as impairment losses on financial and contract assets rose to RMB104.1m from RMB24.3m.
Priorities include cash flow, collections, risk control and selective project growth amid challenging construction conditions.
Financial highlights
Cost of sales declined 6.1% to RMB288.9m; administrative and other expenses fell 29.0% to RMB24.5m, and finance costs fell 14.1% to RMB1.9m.
Loss before tax was RMB98.1m; a RMB10.6m income tax credit brought period loss to RMB87.5m.
Basic and diluted loss per share was RMB14.89 cents versus RMB3.19 cents in H1 2025; no interim dividend was declared.
Outlook and guidance
Near-term conditions remain challenging amid property-market adjustment, cautious spending, margin pressure and prolonged settlement cycles.
Focus on civil building and selected municipal projects with acceptable risk; tighten credit screening, accelerate collections, maintain cost discipline and assess opportunities in urban renewal, infrastructure maintenance, green construction and specialised services selectively.
- Construction downturn cut H1 revenue 47.7% and drove a RMB22.7m net loss.2433
H1 2024 - Project completions and margin pressure drove a 52.3% revenue decline and a net loss.2433
H2 2024 - Margins improved and losses narrowed as civil and municipal growth offset weaker contracting segments.2433
H1 2025 - Revenue fell 37.0%, impairment surged and covenant risks were partly eased by waivers and collections.2433
H2 2025
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