Flooring Guide by Cinvex –, JAKARTA – Chengdong Investment Corporation has divested hundreds of millions of shares in PT Bumi Resources Tbk. (BUMI), a prominent coal mining issuer associated with the Bakrie and Salim Groups. This significant share sale occurred over three consecutive trading sessions in the second week of October 2025.
According to data compiled by Bisnis on Sunday (October 12, 2025), Chengdong offloaded 45 million BUMI shares on October 7, 2025, followed by another sale of the same volume on October 8, 2025. Most recently, Chengdong sold an additional 43.38 million BUMI shares on October 9, 2025. Following these transactions, Chengdong’s stake in BUMI diminished to 33.50 billion shares, representing 9.02% of the company.
This recent wave of sales is part of a broader divestment strategy. Bisnis records indicate that Chengdong has progressively sold 2.53 billion BUMI shares since December 2024 through June 2025. These earlier transactions were executed at various prices, ranging from Rp108 to Rp143 per share. By mid-June 2025, Chengdong’s holding in BUMI had already shrunk to 37.12 billion shares from an initial 39.65 billion. Shiping Wei, Director and Manager of Chengdong Investment Corporation, previously stated that Chengdong’s voting rights percentage in BUMI shares first reached 9.99% on June 10, 2025. He explicitly clarified the purpose of these transactions as “divestment.”
Turning to BUMI’s financial performance, the coal giant reported revenue of US$677.93 million, equivalent to Rp11 trillion, for the first half of 2025. This marks a robust 13.78% year-on-year (YoY) increase from US$595.84 million recorded in the same period last year. Concurrently, BUMI’s cost of revenue also saw a 5.31% YoY rise, reaching US$570.90 million from US$542.09 million in the first half of 2024. Despite the increased costs, BUMI’s gross profit notably surged by 99.14% to US$107.02 million by the end of June 2025, a significant leap from US$53.74 million in the first half of 2024.
However, after accounting for various optimized expenses, BUMI’s net profit attributable to the parent entity experienced a substantial decline of 75.97%, falling to US$20.40 million (equivalent to Rp331.21 billion). This represents a sharp drop from US$84.91 million (Rp1.37 trillion) reported in the corresponding period last year. A key factor dampening BUMI’s net profit was the significant 47.45% increase in interest and financial expenses, which rose to US$11.47 million from US$7.78 million previously.
As of the end of June 2025, BUMI recorded total assets of US$3.91 billion, an increase from US$4.16 billion recorded at the end of December 2024. Meanwhile, BUMI’s total liabilities decreased to US$1.11 billion as of June 30, 2025, down from US$1.29 billion as of December 31, 2024. Concurrently, the company’s total equity stood at US$2.80 billion at the end of June 2025, a slight decrease from US$2.86 billion at the end of 2024.
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Summary
Chengdong Investment Corporation offloaded 133.38 million shares of PT Bumi Resources Tbk. (BUMI) across three trading sessions in the second week of October 2025, diminishing its stake to 9.02%. This recent sale continues a broader divestment strategy, as Chengdong had already sold 2.53 billion BUMI shares between December 2024 and June 2025, with its director confirming the intent as “divestment.”
Financially, BUMI reported a 13.78% year-on-year revenue increase to US$677.93 million and a 99.14% surge in gross profit to US$107.02 million for the first half of 2025. However, net profit attributable to the parent entity significantly declined by 75.97% to US$20.40 million, largely due to a 47.45% increase in interest and financial expenses. As of June 2025, BUMI’s assets stood at US$3.91 billion, with liabilities at US$1.11 billion and equity at US$2.80 billion.