China Shipbuilding Defense details Q3 2025 performance, deep-sea strategy

China Shipbuilding Defense hosted its Q3 2025 performance briefing on November 20, 2025. The company emphasized its commitment to the deep-sea technology strategy, leveraging its core position in the hydroacoustic industry for innovation in areas like deep-sea combat and intelligent equipment, while also expanding into industrial markets. Strategic investments in R&D are ongoing, with 10% of revenue allocated to innovation annually.

In terms of shareholder returns, China Shipbuilding Defense announced two dividend distributions in 2024, achieving a payout ratio of over 40%, and plans to continue interim dividends in 2025. The company has cumulatively distributed 1.11 bn yuan in cash dividends since its 2017 listing, with an annual payout ratio exceeding 30%. Regarding outstanding receivables, the company reported a total of 4.085 bn yuan but reassured investors that the risk of bad debt is low due to the nature of its clientele. Measures are in place to accelerate collections and mitigate risks.

The company also addressed its capital raised investment projects, reporting steady progress with some projects already generating returns and others expected to follow by the end of the year or in 2026. For Q1-Q3 2025, revenue reached 1.925 bn yuan, a 2.8% increase, while net profit attributable to shareholders grew 3.43% to 154 m yuan, and non-recurring net profit rose 5.76% to 117 m yuan.