On January 10, COSCO Shipping Holdings (SSE stock code: 601919; HKEx stock code: 1919) released an announcement on the 2024 annual earnings forecast.
According to the announcement, COSCO Shipping Holdings’ realized an earnings before interest and taxes (EBIT) of approximately RMB 69.926 billion (approximately US$9.538 billion) in 2024, an increase of approximately 90.67% compared with the same period last year; and achieve a net profit of approximately RMB 55.372 billion (approximately US$7.553 billion), an increase of approximately 94.99% compared with the same period last year; of which, the net profit attributable to shareholders of the listed company in 2024 will be approximately RMB 49.082 billion (approximately US$6.695), an increase of approximately 105.71% compared with the same period last year.
In FY2024, the container shipping market volume as a whole showed a moderate growth trend, accompanied by factors such as the continuing fermentation of the Red Sea situation, the supply of effective capacity is insufficient, and the market rate is at a relatively high level.
Faced with the complex and ever-changing global economic and trade situation, COSCO SHIPPING Holdings has always maintained “steady progress” in the construction of the main channel of container shipping. It continues to “advance to seek new ideas” in the new track of digital intelligence and green and low-carbon, continuously enhances the resilience of the global supply chain, and continues to build an integrated full-chain service brand of “container shipping + ports + related logistics”, effectively enhancing the core competitiveness of the enterprise. In 2024, the company’s container shipping business achieved year-on-year growth in both volume and price, and achieved good operating results.