Baoye Group's profits plunge in challenging first half of 2025

For the six months ended June 30, 2025, Baoye Group recorded a consolidated revenue of RMB8.5bn, a 33% decrease compared to the previous year. Operating profit fell by 59% to RMB253.6m, while profit attributable to owners of the company saw a substantial 62% reduction to RMB141m. Earnings per share also dropped by 63% to RMB0.27.

The construction business revenue decreased by 34% to RMB5.6bn, with operating profit down 49% to RMB166.6m. Property development revenue plunged by 46% to RMB1.6bn, and its operating profit decreased by 67% to RMB105m. Building materials revenue increased by 5% to RMB1bn, but operating loss grew by 53% to RMB34.7m.

Despite the downturn, the Group maintained a net cash position with a net cash ratio of 54% as of June 30, 2025. The board resolved not to declare an interim dividend for the period.