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重庆建工2025上半年连续2年中报亏损,归母净利润同比下滑1221.41%
CCEGCCCEGC(SH:600939) Jin Rong Jie·2025-08-24 23:06

Core Viewpoint - Chongqing Construction's financial performance in the first half of 2025 shows significant pressure, with a notable decline in revenue and profit, indicating ongoing challenges in the construction and decoration industry [1][3]. Financial Performance - The company reported a revenue of 14.361 billion yuan, a year-on-year decrease of 8.0% [1]. - The net profit attributable to shareholders was -249 million yuan, a staggering year-on-year decline of 1221.41% [1]. - The second quarter net profit was -206 million yuan, reflecting a quarter-on-quarter change of -379.43% [1]. Profitability Indicators - The net profit margin fell from -0.11% in the first half of 2024 to -1.73% in 2025 [3]. - The return on equity decreased to -3.21%, down 2.99 percentage points year-on-year [3]. - The gross profit margin declined from 6.02% to 4.67% over the same period [3]. Operational Efficiency - The inventory turnover days increased to 108.17 days, up 3.99% from the first half of 2024, indicating reduced operational efficiency [6]. - The net cash flow from operating activities was -1.524 billion yuan, showing slight improvement from -1.608 billion yuan in the previous year but still indicating cash flow stress [6]. - The debt-to-asset ratio reached 90.64%, an increase of 0.75 percentage points year-on-year, suggesting a growing debt burden [6]. Institutional Investment - As of the first half of 2025, only one institutional investor held shares in Chongqing Construction, a significant decrease from 18 in the same period of 2024, reflecting diminished confidence among institutional investors [8]. - The company's market capitalization peaked at 41.697 billion yuan on March 23, 2017, and currently stands at 6.923 billion yuan, indicating a required stock price increase of 502.34% to reach its historical high [8].