China Merchants Shekou Industrial Zone (001979) Q3 2025 earnings summary

Executive summary

• Revenue for Q3 2025 reached ¥38.28 billion, up 43.18% year-over-year, with net profit attributable to shareholders at ¥1.05 billion, down 11.38% from the same period last year.

• Year-to-date revenue was ¥89.77 billion, a 15.07% increase year-over-year, while net profit attributable to shareholders was ¥2.50 billion, down 3.99% year-over-year.

• Cash flow from operating activities for the period was ¥3.14 billion, a 75.81% decrease year-over-year, mainly due to lower real estate sales collections.

Financial highlights

• Gross margin for development business improved, but overall investment income dropped 84.47% year-over-year due to lower equity method and disposal gains.

• Basic and diluted EPS for Q3 were both ¥0.11, flat year-over-year; year-to-date EPS was ¥0.25, up 13.64%.

• Total assets at quarter-end were ¥861.48 billion, up 0.14% from year-end 2024.

• Shareholders’ equity attributable to listed company shareholders was ¥105.03 billion, down 5.38% from year-end 2024.

Segment performance

• Operating revenue for the first nine months increased 15.07% year-over-year, while operating costs rose 8.65%.

• Tax and surcharges increased 63.89% year-over-year, reflecting higher land value-added tax.