Core Viewpoint - China Communications Construction Company (01800.HK) reported a steady development in its Q3 2025 results, with a total revenue of RMB 513.915 billion for the first nine months, achieving 63% of its annual target, despite a year-on-year decline of 4.23% [1] Financial Performance - The company's revenue for Q1-Q3 2025 was RMB 513.915 billion, down 4.23% year-on-year, with a single-quarter revenue decline of 1.30%, indicating a narrowing rate of decrease [1] - Gross margin stood at 11.04%, a decrease of 0.50 percentage points year-on-year, while the single-quarter gross margin improved to 11.80%, up 0.50 percentage points year-on-year [1] - The net profit attributable to shareholders was RMB 13.647 billion, reflecting a year-on-year decline of 16.14%, while the net profit excluding non-recurring items was RMB 11.701 billion, showing year-on-year growth in the single quarter [1] Cash Flow and Financial Stability - The operating cash flow recorded a net outflow of RMB 65.790 billion, although this was a reduction in the outflow compared to the previous year; the single-quarter operating cash flow turned into a net inflow of RMB 11.510 billion [1] - The company's asset-liability ratio remained stable, indicating that financial risks are under control [1]
中国交通建设(01800.HK)前三季度归母净利润136.47亿元，同比下降16.14%