COSCO Shipping Development anticipates profit surge in first quarter

COSCO Shipping Development Co., Ltd. (HKEX:2866) has issued a positive profit alert, forecasting a notable rise in its net profit attributable to owners of the company for the first quarter of 2025. The company anticipates a net profit of approximately RMB480 million, representing a 7.38% increase compared to RMB447 million for the same period in 2024, and a 57.38% increase compared to RMB305 million for the three months ended December 31, 2024. Excluding non-recurring items, net profit is expected to reach approximately RMB466 million, a substantial 102.61% increase from RMB230 million in the first quarter of 2024, and a 74.53% increase from RMB267 million for the three months ended December 31, 2024. The anticipated growth is attributed to the company's focus on high-quality development, effective integration of resources, and advancements in container manufacturing and leasing operations, leading to a strong start in the first quarter of 2025. The company's quarterly report is expected to be published in April 2025.