COSCO SHIPPING Development (601866) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 reached RMB 5.42 billion, up 9.68% year-over-year, with net profit attributable to shareholders at RMB 480 million, a 7.56% increase year-over-year and 57.38% sequentially from Q4 2024.

• Excluding non-recurring items, net profit attributable to shareholders surged 105.52% year-over-year, with estimates also showing a 102.61% increase and 74.53% sequential growth, driven by higher container sales and improved manufacturing efficiency.

• The company reports a strong start to the year, driven by innovation, integration of technology, and expansion in high-value products.

Financial highlights

• Operating cash flow increased 41.20% year-over-year to RMB 502 million.

• Basic and diluted EPS both rose to RMB 0.0360, up 9.09% year-over-year, with Q1 2024 EPS at RMB 0.0330.

• Total assets grew 2.81% from year-end 2024 to RMB 129.92 billion.

• Shareholders’ equity increased 1.11% to RMB 30.63 billion.

Outlook and guidance

• Profit growth attributed to market expansion, cost efficiency, innovation, intelligent and low-carbon container manufacturing, and expanded leasing operations.