On April 29, China Shipbuilding Industry Group Power Co., Ltd. (CSICP) released its “First Quarter Report for 2026.”
According to the announcement, in the first quarter of 2026, CSICP reported operating revenue of approximately RMB 12.86 billion (approximately US$1.883 billion), representing a year-over-year increase of 4.45%; total profit of approximately RMB 1.3 billion (approximately US$190 million), up 55.66% year-over-year; and net profit attributable to shareholders of the listed company of approximately RMB 588 million (approximately US$86 million), up 48.64% year-over-year; Net profit attributable to shareholders of the listed company, excluding non-recurring gains and losses, was approximately 561 million yuan (approximately $82 million), representing a year-over-year increase of 49.84%.
On the same day, CSICP also released its “2025 Annual Report.” During the reporting period, CSICP achieved operating revenue of RMB 57.8 billion (approximately US$8.462 billion), representing a year-over-year increase of 11.81%; net profit attributable to shareholders of the listed company was RMB 1.301 billion (approximately US$190 million), a year-over-year decrease of 6.47%; New orders totaled RMB 63.024 billion (approximately US$9.227 billion), a year-over-year increase of 15.96%; and the order backlog at the end of the period stood at RMB 60.635 billion (approximately US$8.877 billion), a year-over-year increase of 3.55%.
The company stated that in 2025, the shipbuilding industry continued to perform well. The company’s diesel engine business maintained rapid growth, with a significant increase in contract settlements. Sales of its main product, marine low-speed engines, rose, driving a 26% year-on-year increase in diesel engine revenue. However, other business segments (such as wind turbine gearboxes and automotive batteries) saw a decline in revenue due to intensified market competition.
In the marine electromechanical equipment business, in 2025, CSICP captured market opportunities in the marine sector, with new orders for marine electromechanical equipment increasing by 40.79% year-on-year. Among these, new orders for marine steering gear and cranes increased by 46.63% and 213.68% year-on-year, respectively; The company achieved a breakthrough by securing its first order for a 5,000-ton class heavy-lift crane and won the contract for the cargo and oil systems and crane equipment for Asia’s deepest-water pipeline platform.
It is understood that CSICP’s core business covers seven major power categories: diesel power, gas power, steam power, integrated electric power, chemical power, Stirling engine power, and nuclear power equipment, as well as electromechanical supporting businesses. As an integrated supplier of one-stop power solution services, the company specializes in the R&D, manufacturing, system integration, sales and after-sales services of high-end power equipment.
CSICP’s main products include diesel engines, gas turbines, steam turbines, electric motors and control equipment, batteries, battery energy storage systems, heat engines, specialized nuclear power equipment, marine machinery, port machinery, and gearboxes. These products are primarily used in the shipbuilding and offshore engineering sectors, onshore industry, the automotive market, and new energy sectors such as solar power, wind power, and energy storage.