Power Construction Corporation of China (601669) H1 2025 earnings summary

Executive summary

• Revenue for H1 2025 reached ¥292.76 billion, up 2.66% year-over-year; net profit attributable to shareholders was ¥5.43 billion, down 13.81% year-over-year.

• New contracts signed totaled ¥686.7 billion, a 5.83% increase year-over-year, with domestic contracts up 3.16% and international contracts up 17.5%.

• The company maintained its position as a global leader in clean energy and water infrastructure, with significant progress in new energy, digitalization, and international business.

Financial highlights

• Operating income: ¥292.76 billion, up 2.66% year-over-year.

• Net profit attributable to shareholders: ¥5.43 billion, down 13.81% year-over-year.

• Operating cash flow: -¥51.20 billion, a further decrease from -¥46.63 billion in H1 2024.

• Total assets: ¥1.36 trillion, up 5.39% from year-end 2024.

• Net assets attributable to shareholders: ¥168.21 billion, up 1.6% from year-end 2024.

• Basic and diluted EPS: ¥0.2924, down 14.7% year-over-year.

• Adjusted net profit (excluding non-recurring items): ¥4.82 billion, down 22.66% year-over-year.

Outlook and guidance

• Management expects continued growth in water, energy, and infrastructure sectors, driven by national policy and global demand for green and digital infrastructure.

• The company will focus on high-quality development, innovation, and risk management to address macroeconomic and international uncertainties.