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