China State Construction Engineering (601668) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 reached RMB 555.3 billion, up 1.1% year-over-year, with net profit attributable to shareholders at RMB 15.01 billion, up 0.6% year-over-year.

• New contracts grew 6.9% year-over-year to RMB 1.27 trillion, with strong momentum in infrastructure and emerging industries.

• The company focused on high-quality development, market expansion, and risk mitigation, achieving steady growth in major operational indicators.

Financial highlights

• Total profit for Q1 2025 was RMB 22.92 billion, up 0.4% year-over-year.

• Net cash flows from operating activities were negative RMB 95.85 billion, a slight improvement from negative RMB 96.60 billion in Q1 2024.

• Total assets increased to RMB 3.26 trillion, up 2.3% from year-end 2024.

• Owners' equity attributable to shareholders rose to RMB 477.25 billion, up 3.3% from year-end 2024.

Outlook and guidance

• The company will continue to execute seven key priorities, including policy alignment, value creation, reform, management optimization, innovation, risk mitigation, and Party building.

• Focus remains on high-quality growth, expanding into strategic emerging industries, and maintaining robust contract fulfillment.