Metallurgical Corporation of China (1618) Q1 2025 earnings summary

Executive summary

• Operating revenue for Q1 2025 was RMB 122.27 billion, down 18.46% year-over-year.

• Net profit attributable to shareholders fell 40% to RMB 1.61 billion compared to Q1 2024.

• New contracts signed in Q1 2025 totaled RMB 230.66 billion, a 27.22% decrease year-over-year; overseas contracts dropped 35.73%.

Financial highlights

• Net profit after deducting non-recurring items was RMB 1.61 billion, down 39.79% year-over-year.

• Basic and diluted EPS were RMB 0.08, a 33.33% decrease year-over-year.

• Net cash flow from operating activities was negative RMB 25.69 billion, compared to negative RMB 30.75 billion in Q1 2024.

• Total assets increased to RMB 832.04 billion from RMB 808.02 billion at year-end 2024.

• Owners' equity attributable to shareholders decreased by 6.17% to RMB 143.60 billion.

Outlook and guidance

• Profit decline attributed to lower demand in iron and steel, sluggish construction sector, and real estate adjustment.

• Business structure transformation and slower contract revenue conversion also impacted results.