Phoenix Shipping’s Q3 2025 revenue falls amid asset disposals

For the third quarter of 2025, Phoenix Shipping reported a substantial decrease in operating revenue to 204,821,611.89 yuan, a 20.73% decline year-over-year. The company posted a net loss attributable to shareholders of -56,847,329.69 yuan, down 692.75% from the previous year. This significant reduction in profit is primarily attributed to the disposal of three vessels, resulting in a decrease in total profit of -63,674,555.59 yuan. However, the company expects to receive approximately 40,000,000 yuan in demolition subsidies based on national policies.

The company's total assets decreased by 4.56% to 631,242,039.01 yuan by the end of the reporting period compared to the previous year-end. Basic earnings per share were -0.0565 yuan, a 695.77% decline. Operating cash flow for the period was -4,613,887.85 yuan, a 114.00% decrease.

Despite the overall decline, revenue from disposing of vessels contributed to a 71.2% increase in monetary funds. Conversely, fixed assets decreased by 31.5% due to the aforementioned vessel disposals. Short-term borrowings increased by 65.6% to 23,344,591.92 yuan, reflecting new bank loans totaling 10,000,000 yuan.