重庆建工(600939) - 2025 Q2 - 季度业绩预告

Current Period Performance Forecast The company forecasts a significant net loss for H1 2025, with attributable net profit between -273 million and -211 million RMB, and non-recurring adjusted net profit between -303 million and -241 million RMB 2025 Half-Year Performance Forecast | Metric | Estimated Amount (RMB Million) | | :--- | :--- | | Net Profit Attributable to Parent Company Shareholders | -273 to -211 | | Net Profit Attributable to Parent Company Shareholders After Non-Recurring Items | -303 to -241 | - The performance forecast period is from January 1, 2025, to June 30, 2025[4] - The company explicitly states that these forecast figures are preliminary and unaudited, with final data subject to the official semi-annual report[3][4] Comparison with Prior Period Performance The company's H1 2025 performance significantly deteriorated compared to H1 2024, with projected losses substantially increasing from the prior year's -18.84 million RMB 2025 H1 Performance Forecast vs 2024 H1 Actual Performance | Metric | 2025 H1 (Forecast) | 2024 H1 (Actual) | | :--- | :--- | :--- | | Net Profit Attributable to Parent Company Shareholders (RMB Million) | -273 to -211 | -18.84 | | Net Profit Attributable to Parent Company Shareholders After Non-Recurring Items (RMB Million) | -303 to -241 | -95.71 | | Earnings Per Share (RMB) | Not Disclosed | -0.0139 | Analysis of Performance Change Reasons The increased loss is primarily due to challenges in core operations, including industry adjustments, project delays, intensified competition, and extended payment cycles, leading to reduced revenue, lower gross margins, and increased impairment provisions, compounded by decreased non-operating asset disposal gains Impact of Core Operations Ongoing deep adjustments in the construction industry severely challenged core operations, leading to decreased revenue from insufficient project starts and delays, eroded gross margins due to heightened competition and extended project durations, and increased asset impairment provisions from longer client payment cycles - Due to deep adjustments in the construction industry, insufficient project starts and delayed construction progress led to a year-on-year decrease in the company's operating revenue[7] - Intensified market competition and extended project durations contributed to a decline in the company's gross margin[7] - Extended payment cycles from some client entities resulted in increased impairment provisions for related assets[7] Impact of Non-Operating Gains and Losses During the reporting period, a year-on-year decrease in non-current asset disposal gains and losses negatively impacted current period profit, contributing to the expanded loss - The year-on-year decrease in non-current asset disposal gains and losses during the reporting period was the primary source of negative impact from non-operating items[7] Risk Warning and Other Notes The company states no significant uncertainties affect the forecast's accuracy but emphasizes that the data is preliminary, advising investors to consider investment risks and rely on the official 2025 semi-annual report - The company assesses that there are no significant uncertainties affecting the accuracy of this performance forecast[8] - The company reiterates that the forecast data is preliminary, and investors should refer to the officially disclosed 2025 semi-annual report for precise financial figures[9]