宁波建工(601789) - 2025 Q3 - 季度财报

Financial Performance - The company's operating revenue for the third quarter was CNY 4,401,915,131.10, representing a year-on-year decrease of 5.69% compared to CNY 13,575,421,246.92 for the same period last year[5]. - Total profit for the quarter was CNY 78,560,719.63, down 38.51% from CNY 240,260,195.96 in the previous year[5]. - Net profit attributable to shareholders was CNY 52,082,687.21, a decrease of 31.18% compared to CNY 182,404,729.39 in the same period last year[5]. - The basic earnings per share for the quarter was CNY 0.0439, down 32.98% from CNY 0.1557 in the previous year[6]. - The net profit excluding non-recurring gains and losses was CNY 46,547,142.38, down 35.08% from CNY 159,751,509.56 in the previous year[5]. - The net profit for the first three quarters of 2025 is CNY 190,590,533.01, a decrease of 18.0% compared to CNY 232,518,889.19 in the same period of 2024[48]. - Operating profit for the first three quarters of 2025 is CNY 235,206,713.25, down from CNY 297,199,728.22 in 2024, reflecting a decline of 20.9%[48]. - The total comprehensive income for the first three quarters of 2025 is CNY 190,590,533.01, compared to CNY 232,518,889.19 in 2024, reflecting a decrease of 18.0%[48]. - Basic and diluted earnings per share for the first three quarters of 2025 are both CNY 0.1557, down from CNY 0.1898 in 2024[48]. Assets and Liabilities - Total assets at the end of the quarter were CNY 30,651,489,748.22, a decrease of 4.32% from CNY 32,035,262,076.88 at the end of the previous year[6]. - Current assets as of September 30, 2025, totaled CNY 21,914,917,282.75, down from CNY 23,833,141,846.35 at the end of 2024, a decline of 8.0%[42]. - Total liabilities as of September 30, 2025, were CNY 25,611,380,319.88, compared to CNY 26,596,302,722.55 at the end of 2024, a decrease of 3.7%[44]. - The company's cash and cash equivalents decreased to CNY 4,584,602,535.83 from CNY 5,547,965,925.31, a decline of 17.4%[42]. - The total equity attributable to shareholders was CNY 4,541,045,926.52 as of September 30, 2025, down from CNY 4,982,349,733.77 at the end of 2024, a decrease of 8.8%[44]. - Long-term borrowings increased to CNY 2,353,142,500.00 from CNY 1,970,677,465.55, reflecting a rise of 19.4%[44]. Cash Flow - The company's cash flow from operating activities showed a net outflow of CNY 562,184,916.91, compared to a net outflow of CNY 1,798,223,024.67 for the same period last year[5]. - The cash flow from operating activities for the first three quarters of 2025 is negative at CNY -1,798,223,024.67, slightly worse than CNY -1,776,535,269.74 in 2024[51]. - The company reported a total cash inflow from financing activities of CNY 7,867,161,126.86 in 2025, an increase of 52.9% from CNY 5,148,861,196.44 in 2024[51]. - The cash and cash equivalents at the end of the period are CNY 4,416,025,562.65, up from CNY 4,137,161,232.69 at the end of 2024[51]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 75,690[13]. - The largest shareholder, Ningbo Transportation Investment Group Co., Ltd., holds 292,000,000 shares, accounting for 26.87% of total shares[13]. - The company has a total of 292,000,000 unrestricted circulating shares held by the largest shareholder[14]. - The second-largest shareholder, Wu Qingsheng, holds 16,152,100 shares, representing 1.49%[14]. Legal Matters - The company has ongoing litigation with Jilin Baishan Hefeng Real Estate Co., Ltd. regarding a construction contract, with a disputed amount of 38,464,504.00 RMB[15]. - The company has received a total of 10 million RMB from Ningbo Xiangge Real Estate Development Co., Ltd. as part of a bankruptcy claim[16]. - The company is pursuing a claim of 39,432,865 RMB against Ningbo Qianhe Real Estate Co., Ltd. due to a construction contract dispute[19]. - The company has filed a claim of 89,687,437 RMB against the Fifth Hospital and Taicang Kanglaite Real Estate Co., Ltd. due to a construction contract dispute[20]. - The company has received a total of 54,468,885.59 RMB from the Fifth Hospital as part of the ongoing bankruptcy claim[20]. - The company is involved in multiple ongoing legal disputes related to construction contracts, with various amounts claimed across different cases[15][16][19][20]. Subsidiary Operations - The company’s subsidiary, Ningbo Construction Engineering Group, has a court ruling confirming that Aruya Company owes 62,171,140.91 CNY in project payments, with priority rights for recovery from auction proceeds[21]. - The company’s subsidiary, Municipal Group, was awarded 140,122,596.46 CNY in project payments and 10,595,879.67 CNY in penalties from Anshun Transportation Construction Investment, but the latter has not complied with the settlement agreement[23]. - The company’s subsidiary, Construction Group, has a court ruling requiring Yuyiao Shengjian to pay 110,741,369.72 CNY in project payments and interest, with priority rights for recovery[24]. - The company’s subsidiary, Construction Group, has been awarded 70,515,386.36 CNY in project payments and interest from Yuyiao Yucheng, with priority rights for recovery[25]. - The company’s subsidiary, Construction Group, has a court ruling confirming that Suihua Company owes 132,113,647.39 CNY in project payments and overdue interest, with priority rights for recovery[26]. - The company’s subsidiary, Construction Group, has been awarded 80,815,980.6 CNY in project payments and interest from Ningbo Hengyue Real Estate[28]. - The company’s subsidiary, Construction Group, has received a ruling for 54,478,214.14 CNY in project payments and interest from Yongyao Real Estate, with partial payments received[29]. - The company’s subsidiary, Construction Group, has a ruling for 73,997,377.80 CNY in damages and 4,243,631.94 CNY for renovation works from Hongdian Real Estate[30]. - The company has initiated legal proceedings against Taicang Kanglaite for 35,000,000 CNY, which is currently under appeal[30]. - The company’s subsidiary, Municipal Group, has been awarded 100,000,000 CNY in principal and interest from Kunming Urban Construction Investment[30]. - The company subsidiary, Jian Gong Group, is involved in a construction contract dispute, seeking payment of CNY 36,342,551.93 and corresponding interest from Pingyang Jincheng Real Estate Co., Ltd.[28]. - Jian Gong Group has a pending lawsuit against Ningbo Tongrun Ding Trading Co., Ltd. for steel material interest totaling CNY 41,206,397.86, with an additional interest of CNY 692,353.96 calculated until June 8, 2023, and has agreed to pay CNY 20 million as part of a court mediation.[29]. - Jian Gong Group has reached an agreement with Yuyao Guangtian Jianchang Real Estate Development Co., Ltd. for a payment of CNY 43,899,067.19, which is currently being executed.[30]. - The company has a court ruling requiring Ningbo Yudu Real Estate Co., Ltd. to pay CNY 241,351,398.76 and corresponding interest, with Evergrande Real Estate Group Shanghai Shengjian Real Estate Co., Ltd. bearing joint liability.[31]. - Jian Gong Group is pursuing a claim against Ningbo Xiangyuan Tourism Development Co., Ltd. for overdue construction payments of CNY 111,905,151.68, with additional claims for joint liability against related companies.[33]. Contracts and Projects - The company has signed significant contracts, including a total contract amount of CNY 78,680.48 million for an EPC project with Zhongnengjian Future Community Development (Ningbo) Co., Ltd.[37]. - The company has also entered into a contract for the construction of the East Extension of the Ring City South Road, with a contract amount of CNY 57,684.30 million.[38]. - The company is in the process of issuing shares to purchase assets, with the board meetings and shareholder approvals taking place in late 2024 and early 2025.[40]. Operating Costs - Total operating revenue for the first three quarters of 2025 was CNY 13,575,421,246.92, a decrease of 5.7% compared to CNY 14,393,943,582.97 in the same period of 2024[46]. - Total operating costs for the first three quarters of 2025 were CNY 13,265,053,088.38, down from CNY 13,986,650,708.95 in 2024, reflecting a reduction of 5.2%[46]. - Operating costs included CNY 12,332,749,266.66 in operating expenses for 2025, compared to CNY 13,019,346,766.35 in 2024, indicating a decrease of 5.3%[46].