On August 31, China CSSC Holdings Limited released its 2024 Semi-Annual Report.
The announcement disclosed that China CSSC Holdings Limited (CSSC) has achieved an operating revenue of RMB36.017 billion ( about US$5.071 billion) in the first half of 2024, representing a year-on-year growth of 17.99%, of which the operating revenue of shipbuilding, repair and offshore engineering business amounted to RMB34.446 billion (about US$4.850 billion), representing a year-on-year growth of 22.39%; net profit attributable to shareholders of the listed company amounted to RMB1.412 billion ( about US$199 million), a year-on-year increase of 155.31%, while net profit attributable to shareholders of the listed company amounted to RMB1.198 billion ( about US$169 million), a year-on-year reversal of the loss.
In the first half of the year, CSSC undertook orders for a total of 109 vessels/8,557,700 DWT/68,425 million RMB (US$963 million) for civil vessels, with a year-on-year increase of 38.21% in tonnage; 190 vessels/1,174 million RMB (approx. US$165 million) for ship repair business; and 1,179 million RMB (approx. US$166 million) in contracts for the application industry.
Among the newly acquired ship orders, there are mainly 35 oil tankers, 31 bulk carriers, 18 liquefied gas carriers, 14 PCTCs and 10 container ships; the proportion of green ships is over 50%, the proportion of medium and high-end ships is over 70%, and the proportion of batch orders is over 70%.
As of the end of June 2024, the cumulative civil ship orders in hand amounted to 322 vessels/23,621,800 DWT/RMB 1996.39 billion (about US$28.109 billion); ship repair orders amounted to 98 vessels/RMB1,161 million (about US$163 million), offshore equipment contract orders amounted to RMB 1,636 million (about US$230 million), and application industry contracts and orders amounted to RMB 1,307 million (about US$184 million).
Capacity utilization rate further improved, in the first half of the year, CSSC completed and delivered 48 vessels / 4,034,500 DWT of civilian ships, 10 more than the same period last year, the number of tonnage to complete the annual plan of 59.87%, an increase of 3.20%; Capacity utilization rate further improved, in the first half of the year, CSSC completed and delivered 48 ships/40,034,500 DWT of civil vessels, 10 more than the same period last year, the tonnage completed 59.87% of the annual plan, an increase of 3.20%; completed repair of 149 ships/ RMB 1,112 million, amounting to 54.24% of the annual plan; delivery of application industry equipment output value of RMB 787 billion; delivery of offshore equipment 1600 tons of jack-up self-propelled wind power installation platform. Among the vessels delivered, there are mainly 19 container ships, 9 bulk carriers, 6 oil tankers, 5 liquefied gas carriers and 4 PCTCs.
In addition, in the first half of 2024, CSSC completed 937 patent applications, including 843 invention patents; 236 authorized patents, and 41 scientific and technological progress awards.