On April 13, CSSC Offshore & Marine Engineering (Group) Company Limited (COMEC) issued an announcement regarding its projected increase in first-quarter 2026 earnings.
The announcement disclosed that during the reporting period (January 1, 2026, to March 31, 2026), COMEC expects to achieve net profit attributable to owners of the parent company of between 360 million yuan and 430 million yuan (approximately $53 million to $63 million) in the first quarter of 2026. Compared with the same period last year (statutory disclosure data), this represents an increase of 175.54 million yuan to 245.54 million yuan, marking a year-over-year increase of 95.16% to 133.11%.
COMEC expects to report net profit attributable to owners of the parent company, excluding non-recurring gains and losses, of between 330 million and 390 million yuan ($48 million to $57 million) for the first quarter of 2026. Compared with the same period last year (based on statutory disclosure data), this represents an increase of between 152.05 million and 212.05 million yuan, marking a year-over-year growth of 85.44% to 119.16%.
COMEC stated that the primary reasons for the projected increase in first-quarter 2026 earnings include: during the reporting period, the company capitalized on opportunities in the shipbuilding industry, secured a steady stream of orders, and continuously optimized its product mix; by further deepening lean production management, it successfully shortened the construction cycles for its main ship types, driving steady revenue growth and a year-over-year increase in gross profit; additionally, the operating performance of the company’s associates improved significantly, resulting in a substantial year-over-year increase in recognized investment income.
According to related news reports, there have been several personnel changes among COMEC’s senior management since the beginning of the year.
Most recently, on April 2, COMEC issued an announcement stating that Han Jianbing had submitted his resignation as the company’s deputy general manager due to a change in his work situation.