---
title: "PDH (600048.SH) — Financial Reports"
type: "Symbol"
locale: "en"
url: "https://longbridge.com/en/quote/600048.SH/norm.md"
symbol: "600048.SH"
name: "PDH"
parent: "https://longbridge.com/en/quote/600048.SH.md"
datetime: "2026-05-20T12:31:30.328Z"
locales:
  - [en](https://longbridge.com/en/quote/600048.SH/norm.md)
  - [zh-CN](https://longbridge.com/zh-CN/quote/600048.SH/norm.md)
  - [zh-HK](https://longbridge.com/zh-HK/quote/600048.SH/norm.md)
---

# PDH (600048.SH) — Financial Reports

## Income Statement (CNY)

| Indicator | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
| --- | --- | --- | --- | --- | --- |
| EPS | 0.0800 | -0.0910 | -0.0621 | 0.0668 | 0.1800 |
| ROE | 1.90% | -1.84% | -1.58% | 1.53% | 4.30% |
| Revenue | 45.73B | 134.42B | 56.86B | 62.58B | 54.27B |
| Net income | 915.70M | -893.88M | -782.18M | 759.95M | 2.13B |
| Operating income | 3.19B | 2.30B | 1.76B | 5.22B | 5.69B |
| Gross margin | 13.50% | 7.90% | 10.76% | 13.35% | 16.71% |
| Net margin | 2.00% | -0.66% | -1.38% | 1.21% | 3.93% |
| Profit quality | 36.82% | 28.05% | -19.42% | 36.39% | 343.11% |

## Balance Sheet (CNY)

| Indicator | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
| --- | --- | --- | --- | --- | --- |
| A&L | 1176.04B | 1188.29B | 1287.39B | 1305.49B | 1330.67B |
| Leverage | 3.56 | 3.60 | 3.74 | 3.78 | 3.85 |
| BVPS | 16.35 | 16.17 | 16.26 | 16.71 | 16.39 |
| Turnover | 0.2390 | 0.2442 | 0.2274 | 0.2146 | 0.2295 |
| Cash & STI | 128.01B | 123.35B | 123.30B | 139.22B | 148.59B |
| Inv & Rec | 646.72B | 668.17B | 746.21B | 761.10B | 781.18B |
| LT assets | 11.25B | 11.30B | 9.71B | 9.78B | 10.03B |
| Net debt | 214.59B | 220.64B | 226.96B | 209.34B | 219.94B |

## Cash Flow Statement (CNY)

| Indicator | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
| --- | --- | --- | --- | --- | --- |
| Operating CF | 8.67B | 8.21B | -9.04B | 14.36B | 1.66B |
| Investing CF | -412.23M | 2.04B | -2.66B | -1.33B | -37.33M |
| Financing CF | -3.65B | -10.76B | -4.70B | -22.70B | 12.17B |
| Free CF | 9.17B | 27.99B | -11.35B | 19.11B | -452.77M |
| OCF coverage | 32.49% | 24.05% | -26.04% | 25.54% | 5.99% |
| Repaid & issued | 22.80B | 26.98B | 30.71B | 34.17B | 40.37B |
| CapEx | -47.06M | -380.67M | -21.81M | -61.62M | -23.36M |

## Distribution Plan

**Dividend Yield**: 2.77

### Dividend History

| Description | Record Date | Ex-Date | Payment Date |
|-------------|-------------|---------|--------------|
| Cash Dividend: 
0.1685CNY | 2025-08-19 | 2025-08-20 | 2025-08-20 |
| Cash Dividend: 
0.4064CNY | 2024-07-29 | 2024-07-30 | 2024-07-30 |
| Cash Dividend: 
0.45CNY | 2023-06-08 | 2023-06-09 | 2023-06-09 |