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Shanghai Construction swung to an attributable loss of 179.4 million yuan in the first quarter from an attributable profit of 290.3 million yuan in the year-ago period, according to a Wednesday filing with the Shanghai bourse.
The construction and engineering company swung to a loss per share of 0.04 yuan from earnings per share of 0.02 yuan in the year-ago period.
Operating income declined 46% to 40.3 billion yuan from 74.7 billion yuan in the prior-year period.
Shanghai Construction Group posted 2024 net profit attributable to shareholders of 2.17 billion yuan, up 39% from 1.56 billion yuan the previous year.
Earnings per share rose to 0.18 yuan from 0.12 yuan, according to a filing with the Shanghai bourse.
The construction and engineering company's revenue declined 1.5% year over year to 300.2 billion yuan from 304.6 billion yuan.
Shanghai Construction Group declared a dividend of 0.06 per share.
Shares of the company were down 2% in recent trade.
Shanghai Construction Group invested 100 million yuan in Shenzhen Dachen Chuangcheng Private Equity Investment Fund.
The investment accounted for nearly 2% of the fund's total subscribed capital, according to a filing with the Shanghai bourse.
The investment will provide access to resources and collaborative opportunities as well as enhance the company's growth and risk diversification, said Shanghai Construction Group.
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