On October 23, BOMESC Offshore Engineering Company Limited (BOMESC) released its “Third Quarter Report for 2026.” During the reporting period, BOMESC generated operating revenue of approximately 590 million yuan (approximately $88 million), representing a year-over-year increase of 110.73%; total profit was approximately 15.49 million yuan, up 75.42% year-over-year; net profit attributable to shareholders of the listed company was approximately 16.96 million yuan, up 53.85% year-over-year; and net profit attributable to shareholders of the listed company, excluding non-recurring items, was approximately 13.46 million yuan, up 58.08% year-over-year.
The report shows that in the first three quarters of 2026, BOMESC generated operating revenue of approximately 1.354 billion yuan (approximately $203 million), representing a year-over-year increase of 2.36%; total profit was approximately -67.18 million yuan, a sharp year-over-year decline of 469.48%; net profit attributable to shareholders of the listed company was approximately -53.48 million yuan, a steep year-over-year plunge of 328.45%; and net profit attributable to shareholders of the listed company, excluding non-recurring gains and losses, was approximately -63.78 million yuan, a steep year-over-year drop of 788.46%.
BOMESC stated that during the reporting period, the company focused on its core marine engineering business and expanded its portfolio of high-quality overseas orders. Its subsidiary, Tianjin BOMESC, signed a major contract worth approximately $220 million with Saipem for the construction of living quarters modules for offshore platforms; it also signed a contract with Single Buoy Moorings for the construction of topside modules for a floating production, storage, and offloading (FPSO) unit, with a contract value of approximately 1.6 to 2.1 billion yuan (approximately $240 million–$315 million), effectively bolstering its order backlog.
Under the contract signed with Single Buoy Moorings, Tianjin BOMESC’s primary scope of work includes the design, material procurement, and construction of the FPSO’s topside module. Completion is scheduled for the second half of 2028, and the module will be built at BOMEC’s Lingang Offshore Heavy Industry construction site. Upon completion, this FPSO will be deployed in South America.
During the reporting period, BOMESC continued to advance its production capacity upgrades, accelerating the construction of the integrated pre-assembly workshop and the expansion project for Berth No. 2. The company acquired over 9,000 square meters of land and 260 meters of general-purpose berth frontage, further expanding its production capacity resources. Currently, BOMESC possesses 770,000 square meters of production space and 1.3 kilometers of wharf frontage, enabling it to routinely operate under a production model featuring “simultaneous final assembly of two FPSOs and bulk shipment of ultra-large modules.” Its maximum production capacity can support the simultaneous final assembly of three FPSOs, significantly enhancing its ability to undertake and deliver large-scale projects.