Finance | CMC: 2025 Net Profit Attributable to Shareholders of RMB 1.024 Billion, Down 74.65% YoY

On the evening of March 16, China Merchants Shekou released its 2025 annual report.

The report shows that the company achieved total operating revenue of 154.728 billion yuan, a decrease of 13.53% year-on-year; net profit attributable to shareholders of the listed company was 1.024 billion yuan, down 74.65% year-on-year; and the weighted average return on net assets was 0.73%, down 2.63 percentage points year-on-year.

By 2025, the company had signed a total of 7.1612 million square meters of sales area, with a total signed sales amount of 196.009 billion yuan. Over the year, the company acquired 43 land parcels, with a total planned construction area of about 4.4 million square meters and a total land price of approximately 93.8 billion yuan. The company paid about 54.3 billion yuan in land costs. During the reporting period, nearly 90% of the company’s investments were in the “core 10 cities,” with 63% of total investments in first-tier cities.

In the construction agency business, China Merchants Construction Management aims for high-quality development. The company added 80 new agency projects (including consulting), signed a new area of 11.39 million square meters, and generated over 800 million yuan in new contract revenue. Cumulative agency projects undertaken over the years exceeded 620, with a scale surpassing 35 million square meters, covering a variety of sectors such as exhibition centers, industrial commercial offices, residential apartments, healthcare and wellness, cultural and sports centers, schools, municipal parks, roads and bridges, and water engineering, forming a comprehensive agency capacity. The scale of new agency contracts, overall capabilities, and product strength remain among the top 10 in the industry.

The company achieved a net cash flow from operating activities of 9.693 billion yuan for the year, with a cash balance of 86.127 billion yuan at the end of the period, maintaining overall cash flow resilience. As of the end of the reporting period, excluding pre-received accounts, the asset-liability ratio was 64.17%, net debt ratio was 72.46%, and the cash short-term debt ratio was 1.19. The three red lines continued to stay in the green zone, indicating a stable and reasonable debt structure.