China International Holdings (BEH) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue was RMB19.00m, down 9.5% YoY, and the period ended with a net loss of RMB0.54m versus profit of RMB0.68m in Q1 2025.

• Cash and cash equivalents were RMB34.03m at 31 March 2026, down from RMB36.65m at 31 December 2025.

• Interim financial statements were unaudited and unreviewed; FY2025 audited statements carried a disclaimer of opinion linked to the pending implications of an independent review.

Financial highlights

• Revenue was RMB19.003m vs RMB21.007m YoY; lower water-pipeline construction revenue was the main driver of the decline.

• Gross profit was RMB6.168m vs RMB8.817m; other income-net was RMB0.385m vs RMB1.424m, including a prior-year RMB0.776m gain on investment-property disposal.

• Net loss was RMB0.543m vs net profit of RMB0.683m; loss attributable to parent owners was RMB0.878m vs RMB0.556m, partly offset by RMB0.335m profit attributable to non-controlling interests.

• Basic and diluted loss per share was RMB1.12 fen vs loss of RMB0.71 fen in Q1 2025.

Outlook and guidance

• Management remained cautiously optimistic on PRC economic conditions for the next 12 months, while noting that the economy had not fully recovered.

• Focus remains on cash generation through further development of the water-treatment business in China; no other investment plans were stated.