BAOYE GROUP (02355) announced its annual financial results for the period ending December 31, 2025. The group recorded revenue of 19.947 billion yuan, representing a decrease of 10.71% compared to the previous year. Net profit attributable to owners of the company was 290 million yuan, down 29.34% year-on-year. Basic earnings per share stood at 0.56 yuan. The board proposed a final dividend of 0.085 yuan per share.

During the fiscal year ending December 31, 2025, the group's construction business segment achieved revenue of approximately 11.852 billion yuan, a decline of about 16% from the previous year. Operating profit for the segment was approximately 358 million yuan, down approximately 32% year-on-year.

The decrease in both revenue and operating profit for the construction business in 2025 was primarily attributed to multiple factors: a slowdown in macroeconomic growth, increased fiscal pressure on local governments, deceleration in infrastructure direct investment growth, and the ongoing deep adjustment in the real estate market. Shrinking demand in the building construction sector has directly led to a sharp contraction in the market. The construction industry has entered an era of stock competition, characterized by severe overcapacity and continuously declining profit margins for construction enterprises.