China CSSC (600150) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 reached RMB 43.31 billion, up 54.9% year-over-year, with net profit attributable to shareholders at RMB 4.83 billion, a 251.6% increase year-over-year.

• Significant improvement in operating cash flow, turning positive to RMB 8.15 billion from a negative RMB 5.81 billion in Q1 2025.

• The company completed a major merger with China Shipbuilding Industry Company, resulting in restated prior period financials.

Financial highlights

• Operating income rose to RMB 43.31 billion from RMB 27.96 billion year-over-year.

• Net profit attributable to shareholders increased to RMB 4.83 billion from RMB 1.37 billion year-over-year.

• Basic and diluted EPS both rose to RMB 0.642 from RMB 0.232 year-over-year.

• Operating cash flow improved to RMB 8.15 billion from negative RMB 5.81 billion year-over-year.

Outlook and guidance

• Growth attributed to strong shipbuilding demand, enhanced cost control, and increased delivery of high-value vessels.