On July 8, China CSSC Holdings Limited released the Announcement for 2024 Semi-Annual Results pre-increase.
The announcement disclosed that China CSSC Holdings Limited is expected to achieve net profit attributable to owners of the parent company in the first half of 2024 in the range of 1.35 billion yuan to 1.5 billion yuan ($186 million – $206 million), a year-on-year increase of 144.04% to 171.16%. Net profit attributable to the parent company before deductions is expected to be in the range of 1.12 billion yuan to 1.27 billion yuan ($154 million – $175 million), compared with -117 million in the same period of the previous year, making a turnaround.
As for the main reasons for the 2024 half- year performance increase, China CSSC Holdings Limited said that in the first half of the year, the company focused on the main responsibility and main business, paid close attention to production and delivery, and carried out in-depth lean management to promote quality and efficiency; The Company’s hand-held order structure improved, the price and quantity of civil vessels delivered during the reporting period increased year-on-year, and gross operating profit for the period increased year-on-year; the operating results of the associated enterprises improved in tandem.
It is understood that China CSSC Holdings Limited is China State Shipbuilding Corporation Limited core military and civilian products listed company, which integrated CCSSC’s large shipbuilding, ship repair, mechanical and electrical equipment, offshore engineering and other businesses. Its wholly-owned and controlled subsidiaries include Jiangnan Shipbuilding, Waigaoqiao Shipbuilding, Guangzhou Shipbuilding International and CSSC Chengxi Shipyard.