On July 10, CSSC Offshore & Marine Engineering (Group) Company Limited issued the “Announcement on Expected Increase in 2026 Half-Year Results.”
The announcement disclosed that during the reporting period (January 1, 2026, to June 30, 2026), CSSC Offshore & Marine Engineering expects to achieve net profit attributable to owners of the parent company of between 790 million yuan and 890 million yuan (approximately $117 million to $131 million) in the first half of 2026. Compared with the same period last year, this represents an increase of 260 million yuan to 360 million yuan (approximately $38 million to $53 million), marking a year-over-year increase of 50.08% to 69.08%.
CSSC Offshore & Marine Engineering expects to report net income attributable to owners of the parent, excluding non-recurring gains and losses, of 740 million to 840 million yuan (approximately $109 million to $124 million) in the first half of 2026, which represents an increase of 250 million to 350 million yuan (approximately $0.37–$0.52 billion) compared to the same period last year, marking a year-over-year increase of 50.71% to 71.08%.
CSSC Offshore & Marine Engineering stated that the projected increase in earnings for the first half of 2026 is primarily attributable to the shipbuilding industry’s continued strong performance, the ongoing optimization of the company’s order backlog, and a full workload of production tasks. The company has vigorously advanced lean production management, leveraged its strengths in serialized and batch production, continuously improved overall production and operational efficiency, and driven a year-over-year increase in product gross profit. The operating performance of its associates has improved significantly, and dividend payouts from its equity-invested companies have risen steadily, resulting in a substantial year-over-year increase in recognized investment income.
According to its official website, CSSC Offshore & Marine Engineering is one of the major shipbuilding enterprises under China State Shipbuilding Corporation Limited (CSSC), and was formerly known as Guangzhou Guangship International Co., Ltd. It operates two main shipyards: Guangzhou Guangship International and Huangpu Wenchong Shipbuilding. The company was listed on the Shanghai and Hong Kong stock exchanges in 1993 and was China’s first shipbuilding company to be listed on both the A-share and H-share markets.