China CSSC Holdings Limited is engaged in shipbuilding and repair businesses in China. It also offers ship and electromechanical equipment and provides marine engineering services. The company was founded in 1998 and is based in Shanghai, China.
China State Shipbuilding Corporation's 2026 interim net profit hits 9.954 billion yuan, up 163.51% year on year
China State Shipbuilding Corporation released its 2026 interim report, with total operating revenue of 91.53 billion yuan, up 26.01% year on year, and net profit attributable to the parent of 9.954 billion yuan, up 163.51% year on year. Both indicators ranked first among peer companies that have disclosed results. Net cash inflow from operating activities was 10.918 billion yuan, an increase of 13.719 billion yuan year on year. The company's asset-liability ratio was 62.41%, down 5.98 percentage points from the same period last year; gross margin was 17.37%, up 5.16 percentage points year on year; ROE was 6.53%, up 0.95 percentage points year on year. Diluted earnings per share were 1.32 yuan, up 107.69% year on year. The number of shareholders was 613,900, and the top ten shareholders held 56.25% of the total share capital.
Sun Changqing Appointed Deputy General Manager and Chief Accountant of China State Shipbuilding Corporation
China State Shipbuilding Corporation has appointed Sun Changqing as Deputy General Manager and Chief Accountant. On August 6, the company convened the eighth meeting of its ninth board of directors via telecommunication, where the relevant appointment proposal was reviewed and approved. Sun Changqing's term runs from the date of this board resolution until the end of the ninth board's tenure. According to the resume attached to the announcement, Sun Changqing was born in 1974 and holds professional qualifications as a senior accountant at the researcher level and a certified tax agent. He graduated from Renmin University of China in 1998 with a degree in accounting and has long served in financial roles within the CSSC system. He previously served as deputy director and director of the finance department of Jiangnan Heavy Industry, deputy chief accountant and director of the financial management department of CSSC Steel Structure Engineering, CFO of CSSC Carnival Cruise Shipping, CFO of Adora Cruises, and deputy chief accountant and chief accountant of CSSC Cruise Technology Development. China State Shipbuilding Corporation is the only listed company globally to have built aircraft carriers, large LNG carriers, and large cruise ships, with asset scale and industry influence leading the world.
COSCO SHIPPING Development Subsidiary to Build 15 New 210,000-DWT Bulk Carriers for a Total of 7.92 Billion Yuan
COSCO SHIPPING Development announced plans to build 15 new 210,000-deadweight-ton bulk carriers through its wholly-owned subsidiary Hainan COSCO SHIPPING Development Shipping Co., Ltd., with a total investment of 7.92 billion yuan. Of these, 10 vessels will be constructed by Waigaoqiao Shipbuilding with a transaction value of 5.28 billion yuan, and 5 vessels will be built by Xiangyu Shipbuilding with a transaction value of 2.64 billion yuan. The ships are expected to be delivered gradually starting from May 2030 and will be chartered on a long-term operating lease to COSCO SHIPPING Bulk.
601866.CG · Capital · Positive COSCO SHIPPING Development announces a 7.92 billion yuan investment to build 15 bulk carriers through its subsidiary.
600150.CG · Demand · Positive Waigaoqiao Shipbuilding, a subsidiary of China CSSC Holdings Ltd, is contracted to build 10 of the 15 bulk carriers for 5.28 billion yuan.
南通象屿海洋装备股份有限公司 · Demand · Positive Xiangyu Shipbuilding (南通象屿海洋装备股份有限公司) is contracted to build 5 of the 15 bulk carriers for 2.64 billion yuan.
601919.CG · Demand · Neutral COSCO SHIPPING Bulk will charter the vessels on long-term operating lease, but COSCO SHIPPING Holdings is not directly involved in the order.
China State Shipbuilding expects first-half net profit to rise 212% to 273% year-on-year
China State Shipbuilding announced that it expects net profit attributable to shareholders of the listed company for the first half of 2026 to be between 9.20 billion yuan and 11.00 billion yuan, representing a year-on-year increase of 212% to 273%. The profit growth is mainly due to a sufficient order backlog and a full production schedule. Leveraging a mature construction system and the advantages of batch and rhythm production, production and operations have been stable and orderly. At the same time, the company has strengthened lean management and deepened cost control. The number of delivered commercial shipbuilding products, the proportion of mid-to-high-end vessel types, and the average price per vessel have all increased year-on-year, leading to an improvement in operating performance compared with the same period last year.
Shanghai Composite rebounds on fading US rate hike expectations and improving services PMI
On the 3rd, the Shanghai Composite Index rebounded in mainland China trading, closing at 4043.64, up 14.74 points or 0.37 percent from the previous day. In addition to bargain hunting after the sharp decline, buying of consumer-related stocks that had been lagging lifted the market. Fading expectations for a US rate hike provided support from the external environment, and China's services Purchasing Managers' Index significantly exceeding market forecasts also invited buying. By sector, auto-related stocks were firm, with Sailun Tire up 5.2 percent, Yutong Bus up 5.1 percent, and Foton Motor up 4.7 percent. Shipbuilding also rose, with China State Shipbuilding Corporation up 8.1 percent and CSSC Defense up 6.1 percent. On the other hand, chemical stocks were sold, with Zhejiang Juhua down 10.0 percent, and non-ferrous and precious metals also declined, with Yunnan Precious Metals down 8.8 percent. The Shanghai B-share index ended at 274.28, up 3.44 points or 1.27 percent, while the Shenzhen B-share index finished at 1117.81, down 0.14 points or 0.01 percent.
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