Back 14 May 2025

China International Holdings Limited Navigates 1Q 2025: Profitability Recovers Despite Revenue Dip, Asset Disposal Impacts Balance Sheet, Prior Audit Concerns Noted

Link: https://links.sgx.com/1.0.0/corporate-announcements/OPJBEWBOM8FO6YMG/79c270dc9df5c513827ce421624ac9d28bd83d5d39d7a02140d7a904543498b2

Summary:

  • China International Holdings Limited reported a decrease in revenue to RMB 21.01 million for the first quarter ended 31 March 2025, primarily due to lower revenue from water supply and wastewater treatment services.
  • The Group recorded a net profit of RMB 0.68 million for the quarter, representing a turnaround from a net loss in the corresponding period of the previous year.
  • Investment properties decreased to RMB 51.60 million, mainly attributable to the disposal of investment properties in Baoding.
  • The unaudited statements indicate net cash used in operating activities but net cash provided by investing activities (largely from asset disposal) and financing activities.
  • The Company's independent auditors had issued a disclaimer of opinion on the Group's audited financial statements for the financial year ended 31 December 2024.