20, Guotong Stock (002205) disclosed its annual report for 2025. During the reporting period, the company realized operating income of 673 million yuan, which remained basically stable compared with the previous year, and realized net profit attributable to shareholders of listed companies of-90.2789 million yuan, a loss reduction of 63.76% compared with the previous year; As of the end of the reporting period, the company's net assets attributable to shareholders of listed companies amounted to 291 million yuan. According to
the data, Guotong is mainly engaged in the manufacture of high-end concrete products, and its core product, prestressed concrete cylinder pipe (PCCP), is mainly used in large-scale water diversion, urban and rural water supply and distribution projects, as well as in the technical development and consultation of high-end concrete products such as metro segments and wind power towers. During the reporting period, the Company adopted the mode of "production based on sales" to obtain orders through bidding and other means; established a market-oriented employment system and implemented labor outsourcing to reduce costs; expanded the construction design sector through capital operation to form a general contracting capacity and achieve profitability and product diversification; and promoted the transfer of PPP projects after construction and operation to reduce liabilities and operational risks. During the
reporting period, the Company not only focused on the construction and operation of municipal water conservancy facilities on the basis of production bases throughout the country, but also participated in major projects such as South-to-North Water Diversion, Xijiang Water Diversion, Liaoning Water Diversion Project, Xinjiang Water Diversion Project, Harbin Metro and Beibu Gulf Rim Water Resources Allocation, and expanded wind power tower projects in the field of new energy; It also reduces costs through regional deployment and centralized procurement and distribution, and relies on management, talent, technology, capital and market advantages to win the market with high-quality products and services.
Operating data show that in 2025, the company not only achieved a huge breakthrough in business in South China, but also increased its revenue from 6.3512 million yuan to 181 million yuan, an increase of 2750.72%, making it the core business area of the company after the northwest area, whi le the northwest area increased its gross interest rate by 1.43% year on year. Maintaining a higher gross profit rate of 46.69% has become a guarantee for the company's future profitability improvement. In addition, the company's three operating expenses were effectively reduced, of which sales expenses decreased by 47.70%, management expenses decreased by 3.35% and financial expenses decreased by 1.45%.
For the future, on the basis of achieving a substantial reduction in performance losses in 2025, Guotong said that it would seize the opportunity of speeding up water conservancy construction in the 15th Five-Year Plan, give full play to the role of listed companies as a platform, stabilize the good situation, strengthen market and technological innovation, focus on resolving market, PPP projects and capital risks, and deepen reform. Specific measures include: implementing the cost control of the whole chain from R & D to manufacturing, strictly controlling the "two funds"; paying close attention to the quality of assets, disposing of inefficient and ineffective assets; making every effort to ensure the safety of the capital chain, strengthening capital allocation and financing innovation, strictly matching the rhythm of project repayment and debt repayment, and building a strong cash flow defense line.
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