中远海特(600428) - 2025 Q2 - 季度业绩

COSCO SHIPPING Specialized Carriers Co., Ltd. 2025 Interim Results Announcement Key Financial Data and Indicators The company achieved strong growth in H1 2025, with operating revenue and profit up 44.05% and 51.00% YoY respectively, though net profit attributable to shareholders grew slower at 13.08% due to prior-year non-recurring items Key Financial Data and Indicators | Item | Current Period (RMB million) | Prior Year Period (RMB million) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Profitability | | | | | Operating Revenue | 10,775.15 | 7,480.38 | 44.05 | | Operating Profit | 1,329.51 | 880.49 | 51.00 | | Net Profit Attributable to Shareholders | 824.93 | 729.50 | 13.08 | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) | 835.09 | 546.64 | 52.77 | | Basic Earnings Per Share (RMB) | 0.337 | 0.340 | -0.73 | | Asset Position (Period-end vs. Beginning of Year) | | | | | Total Assets | 41,807.09 | 34,928.65 | 19.69 | | Total Equity Attributable to Parent Company | 16,174.43 | 12,582.30 | 28.55 | | Share Capital (million shares) | 2,743.92 | 2,146.65 | 27.82 | Explanation of Operating Performance and Financial Condition Core business growth was driven by cargo structure optimization, while net profit growth was skewed by significant prior-year non-recurring gains and EPS was diluted by a private placement Core Business Impact The company achieved steady performance growth by expanding its fleet, optimizing capacity, and increasing its share of high-value cargo, demonstrating strong operational resilience - The company actively optimized its cargo mix, with the volume of high-value goods such as wind power equipment, energy storage containers, construction machinery, and commercial vehicles increasing year-over-year[4] - During the period, operating revenue reached approximately RMB 10.78 billion, a YoY increase of 44.05%, and net profit excluding non-recurring items reached approximately RMB 835 million, a YoY increase of 52.77%, indicating strong core business growth[4] Impact of Non-recurring Items The significant gap between net profit growth (13.08%) and adjusted net profit growth (52.77%) is due to a high base from prior-year non-recurring gains of approximately RMB 178 million - Reduced investment income: The prior-year period included a RMB 120 million gain from the reclassification of the equity investment in GZ Ocean Car Carrier, which was absent this period[4] - Reduced asset disposal gains: The company recognized a RMB 58.21 million gain from the disposal of old vessels in the prior-year period, with no similar gains this period[4] Impact of Share Capital Changes A private placement of A-shares in March 2025 increased total share capital by 27.82%, causing a dilution effect that led to a slight decrease in basic earnings per share - In March 2025, the company issued 597,269,624 new shares through a private placement, increasing total share capital to 2,743,920,395 shares[5] - The increase in share capital was a primary reason for the decrease in basic EPS from RMB 0.340 to RMB 0.337[2] Risk Warning The financial data in this announcement is preliminary and unaudited, with final figures subject to the official 2025 interim report, and investors should be aware of potential risks - The key financial data for the first half of 2025 presented in this announcement is preliminary and has not been audited by an accounting firm[1][7] - Investors are advised to consider the investment risks, as the final data will be disclosed in the company's official 2025 interim report[1][7]