Core Viewpoint - The recent performance of Aidewei Construction Group (06189.HK) indicates an expanding loss for the mid-year results of 2025, alongside ongoing challenges in the industry environment [1]. Financial Performance - The mid-year report for the fiscal year 2025, disclosed on September 3, 2025, shows a net loss of 16.871 million RMB, representing a year-on-year increase in loss of 98.16% [2]. - Despite a significant year-on-year revenue growth of 326.40%, the revenue base was extremely low at only 840,000 RMB, highlighting that the main business areas (construction decoration, electromechanical installation, etc.) are still under considerable pressure [2]. Industry Policy and Environment - The construction decoration industry in 2025 is adversely affected by sluggish real estate investment, leading to continued exposure of credit risks among smaller firms [3]. - As a smaller Hong Kong-listed construction company, Aidewei's business recovery is highly dependent on the rebound of the real estate chain and its ability to secure new projects, necessitating attention to potential improvements in cash flow through business adjustments or policy support [3]. Future Development - The company has not yet announced the specific date for the full-year results of 2025, but it is expected to be disclosed between March and April 2026 [4]. - Key areas to monitor in the upcoming financial report include whether the annual loss narrows, the scale of new orders, and the liquidity situation [4].
爱得威建设集团2025年中期亏损扩大，行业环境持续承压