CNPC Capital Company (000617) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue was RMB 8.95 billion, down 7.77% year-over-year; net profit attributable to shareholders fell 26.57% to RMB 1.27 billion.

• Cash flow from operating activities declined sharply by 479.34% year-over-year, mainly due to increased net loans and decreased central bank and interbank deposits.

• EPS was RMB 0.10, down 28.57% from the same period last year.

Financial highlights

• Operating income: RMB 8.95 billion (Q1 2025), down from RMB 9.70 billion (Q1 2024).

• Net profit attributable to shareholders: RMB 1.27 billion, down from RMB 1.73 billion.

• Net profit excluding non-recurring items: RMB 1.25 billion, down 27.10% year-over-year.

• Operating cash flow: -RMB 80.04 billion, compared to -RMB 13.82 billion last year.

• Total assets at period end: RMB 1.03 trillion, down from RMB 1.08 trillion at year-end 2024.

Outlook and guidance

• Profit decline attributed to weaker bond market, lower investment and fair value gains, and higher credit impairment losses from expanded lending.