Baoye Group's revenue and profit fall in challenging first half

Baoye Group reported a consolidated revenue of 8.5bn yuan for the six months ended June 30, 2025, a 33% decrease from the same period last year. Operating profit fell 59% to 253.6m yuan. Profit attributable to the owners of the company declined 62% to 141m yuan, resulting in basic earnings per share of 0.27 yuan, down 63%. This downturn is primarily attributed to the industry's contraction, impacting both construction and property development businesses.

Construction business revenue decreased 34% to 5.66bn yuan, with operating profit down 49% to 166.6m yuan. Property development revenue saw a 46% decrease to 1.62bn yuan, and its operating profit dropped 67% to 105m yuan. Conversely, building materials revenue increased 5% to 1.05bn yuan, though it recorded an operating loss of 34.7m yuan, a 53% increase in loss.

Despite these challenges, the group maintained a net cash position with a net cash ratio of 54% as of June 30, 2025, unchanged from 2024. The board resolved not to declare an interim dividend for the period.