COSCO SHIPPING Development Co Class H ( (CITAF) ) has released its Q1 earnings. Here is a breakdown of the information COSCO SHIPPING Development Co Class H presented to its investors.
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COSCO SHIPPING Development Co., Ltd. is a joint stock limited company incorporated in the People’s Republic of China, primarily engaged in the energy transportation sector, focusing on the shipping of oil and liquefied natural gas (LNG) across international and domestic markets.
In the first quarter of 2025, COSCO SHIPPING Development Co. reported a decline in its financial performance compared to the same period last year. The company’s revenue from operations decreased by 4.01% to RMB 5.75 billion, and net profit attributable to shareholders fell by 43.31% to RMB 707.7 million.
Key financial metrics highlighted a challenging quarter for the company, with basic and diluted earnings per share both dropping by 43.33%. The net cash flow from operating activities also saw a decline of 29.96%. The company attributed these declines primarily to weaker earnings in its international oil tanker fleet amid market pressures.
Despite the downturn in oil shipping, the company’s LNG shipping sector showed resilience, contributing RMB 200 million to the net profit attributable to shareholders, marking a year-on-year increase of 12.3%. The company also reported an increase in tanker utilization and transportation volume, indicating operational efficiency gains.
Looking forward, COSCO SHIPPING Development Co. remains focused on navigating market challenges and leveraging its strategic assets to stabilize its financial performance. The management is cautiously optimistic about the future, aiming to enhance operational efficiencies and capitalize on growth opportunities in the LNG sector.