COSCO SHIPPING Energy reports strong semi-annual performance despite profit dip

COSCO SHIPPING Energy Transportation announced total assets of RMB 84.41 billion as of June 30, 2025, a 4.15% increase from the end of last year. Net profit attributable to shareholders was RMB 1.87 billion, a 29.16% decrease from the previous year, though Q2 saw a 64.16% quarter-on-quarter increase. Total operating revenue reached RMB 11.64 billion, while EBITDA stood at RMB 5.03 billion.

The company's board approved the 2025 semi-annual report and interim performance announcement, which will be published on the Shanghai Stock Exchange and Hong Kong Stock Exchange websites. Shareholders also approved a proposal to hold a second extraordinary general meeting in late September 2025. The board also reviewed and approved the risk assessment report for COSCO SHIPPING Group Finance Co., Ltd., noting that the financial company has valid licenses and its risk management is controllable.

The company confirmed its plan to issue A-share stock to specific investors, including COSCO SHIPPING Group. This issuance aims to raise up to RMB 8 billion, with COSCO SHIPPING Group committing to subscribe to 50% of the shares. The capital raised will be used for investments in six VLCCs (RMB 4.60 billion), two LNG carriers (RMB 2.75 billion), and three Aframax crude oil tankers (RMB 0.66 billion).