COSCO Shipping Technology sees sharp profit decline in first half

COSCO Shipping Technology Co., Ltd. announced total operating revenue of 788.8 million yuan for the first half of 2025, a 9.97% decrease compared to the same period last year. Net profit attributable to shareholders declined by 91.21% to 9.8 million yuan, while net profit attributable to shareholders excluding non-recurring gains and losses fell by 96.71% to 3.6 million yuan.

The company's digital shipping and supply chain business segment reported an 8.81% revenue increase to 414.5 million yuan. However, the digital city and transportation business segment saw a 23.62% decline in revenue to 367.6 million yuan, primarily due to reduced customer demand and increased competition in highway electromechanical integration projects. The company also completed the third unlock period for its restricted stock incentive plan, with 282,880 shares eligible for unlocking on February 19, 2025. Additionally, COSCO Shipping Technology transferred its 50% equity in COSCO Shipping Furuno Communication Navigation Technology (Shanghai) Co., Ltd. for 1,032.52 million yuan.