Baoye Group Reports 34% Revenue Decline, 49% Drop in Operating Profit for H1 2025
Reuters
Aug 29
Baoye Group Reports 34% Revenue Decline, 49% Drop in Operating Profit for H1 2025
Baoye Group Company Limited announced its unaudited interim results for the six months ended 30 June 2025. The company reported a revenue of RMB8.50 billion, a decline from RMB12.77 billion in the same period last year. The gross profit also decreased to RMB508.7 million from RMB965.3 million year-over-year. The profit for the period stood at RMB143.4 million, down from RMB423.3 million in the previous year, with profit attributable to owners of the company reported at RMB141.0 million compared to RMB373.8 million in the corresponding period of 2024. The property development business of Baoye Group achieved a contract sales value of approximately RMB1.78 billion for the period. The revenue from property sales was primarily driven by projects in locations such as Lishui, Shaoxing, Bozhou, and Fuyang, with notable contributions from projects like Baoye Biou Jiayuan and Baoye Four Seasons Garden. The company noted a sharp decrease in property projects recognized during the period, along with a lower profit margin compared to the same period last year.
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