COSCO Shipping Development reports strong profit growth in first half

For the six months ended June 30, 2025, COSCO Shipping Development reported revenue of RMB12.16bn, a 4.29% increase from the prior year. Profit before tax from continuing operations surged by 59.28% to RMB1.27bn. Net profit attributable to owners of the company rose 8.36% year-on-year to RMB970.37m, with basic earnings per share at RMB0.0729. An interim dividend of RMB0.022 per share was declared.

The container manufacturing segment saw a 12.22% revenue increase to RMB10.86bn, driven by a 13.61% rise in container sales volume to 845,700 TEU. Container leasing revenue increased by 1.16% to RMB2.61bn. Shipping leasing revenue decreased by 10.87% to RMB1.05bn, attributed to a decrease in the scale of the finance lease fleet. Investment income increased by 11.36% to RMB1.00bn, primarily due to improved operating results from associates.

As of June 30, 2025, the group's net current liabilities amounted to RMB26.38bn. Total bank and other borrowings were RMB75.30bn. Capital commitments for property, plant, and equipment stood at RMB10.49bn. The group also undertook A+H share repurchases totaling approximately RMB510m to stabilize market expectations.