Understanding CHINAHONGQIAO (01378) 2025 Annual Performance in One Picture: Revenue Increased by 4% Year-on-Year, Continuous Optimization of Financial Structure.

Recently, CHINAHONGQIAO (01378) released its performance for the year 2025. The group's performance in 2025 was strong, with revenue increasing by 4% year-on-year to 162.35 billion yuan, and net profit attributable to shareholders increasing by 1.2% year-on-year to 22.64 billion yuan. The financial structure continued to improve, with the asset-liability ratio decreasing from 48.2% to 42.2%, net debt decreasing by 21.7% year-on-year to 19.92 billion yuan, long-term debt accounting for 62.0%, and cash and cash equivalents increasing by 14.3% year-on-year to 51.19 billion yuan. In terms of business, the sales volume of electrolytic aluminum remained stable at over 5.8 million tons, with a gross profit margin increasing by 3.9 percentage points year-on-year to 28.5%, indicating significantly enhanced profitability. The sales volume of alumina increased by 22.7% year-on-year to 13.397 million tons, driving segment revenue up by 4.0% year-on-year to 38.83 billion yuan.