China International Holdings (BEH) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue was RMB21.01 million, down 13.2% YoY; net profit was RMB0.68 million versus a RMB1.08 million loss in Q1 2024.

• The interim financial statements were unaudited and unreviewed; the FY2024 audit carried a disclaimer of opinion, and the independent review remained in progress.

Financial highlights

• Gross profit was RMB8.82 million versus RMB8.29 million YoY; other income was RMB1.42 million versus RMB0.26 million.

• Profit before tax was RMB1.65 million versus a loss of RMB0.52 million; income tax expense was RMB0.97 million versus RMB0.56 million.

• Consolidated net profit of RMB0.68 million included a RMB0.56 million loss attributable to parent owners and RMB1.24 million profit attributable to non-controlling interests.

• A RMB0.78 million gain on investment-property disposals contributed to Q1 2025 other income.

Outlook and guidance

• Cautiously optimistic on PRC economic conditions over the next 12 months; the broader economy had not fully recovered.

• Focus remains on cash generation from investment properties and further development of water treatment in China; no other investment plans were stated.

• Tianjin Lingang Water's completed expansion supports re-pressurized water supply and increased wastewater treatment and purification capacity in related service areas.

• No dividend was declared or recommended, taking operational and financial cash needs into account.