Link: https://links.sgx.com/1.0.0/corporate-announcements/BVOFJZ13W8GQU8N6/099f5f516744eeaf9195058aa6e98aa41919dc58acb699b88479800b69a8804d

Summary:

• Net profit for 1H 2025 rose 36.7% year-on-year to RMB4.2 billion, a record high.

• Gross profit jumped 27.6% to RMB4.4 billion, with gross profit margin increasing to 34.5%, up 7.8 percentage points.

• Revenue was RMB12.9 billion, largely flat compared to 1H 2024 due to a shift in product mix and lower contributions from the Shipping segment.

• Investment in Tsuneishi Zhoushan contributed RMB160 million; total share of profits from associates and JVs was RMB481.4 million, up 79%.

• Net cash position stood at RMB18.3 billion as at 30 June 2025.

• Delivered 23 vessels during the reporting period and won new orders (mainly containerships) worth US$537.2 million.

• Outstanding orderbook of US$23.2 billion extends revenue visibility to 2029 and beyond.

• The company remains resilient despite macro uncertainties, focusing on quality and timely delivery, and expects to secure new contracts for delivery in 2028 and 2029.

• Industry outlook notes challenges from macroeconomic uncertainties, tariffs, and volatile shipping markets, but long-term demand is supported by industry decarbonisation trends and regulatory changes.