China International Holdings (BEH) Q4 2025 earnings summary

Executive summary

• FY2025 revenue rose 17.9% to RMB109.52m, and net profit was RMB3.58m versus a RMB108.05m loss in FY2024, when a major Huike joint-venture loss was recognized.

• FY2025 statements were unaudited and unreviewed; an independent review of matters underlying the FY2024 audit disclaimer remained incomplete at the announcement date.

Financial highlights

• Revenue increased RMB16.60m YoY to RMB109.52m, mainly from higher water-pipeline construction revenue.

• Gross profit rose to RMB49.79m from RMB31.51m; profit before tax was RMB6.31m versus a RMB107.48m loss in FY2024.

• Consolidated net profit was RMB3.58m; owners of the parent recorded a RMB3.00m loss while non-controlling interests recorded RMB6.57m profit.

• Cash and cash equivalents fell to RMB36.58m from RMB40.43m; total assets were RMB563.10m and total liabilities RMB235.21m at year-end.

Outlook and guidance

• Management remained cautiously optimistic for the next 12 months, while noting the PRC economy had not fully recovered; focus remains on cash generation through water-treatment business development in China.

• No current investment plans; management said it would focus on executing existing plans and make prompt disclosure of material operational developments.