Mei Ri Jing Ji Xin Wen·2025-09-04 15:43Group 1 - The core viewpoint of the news is the performance and strategic direction of China Merchants Energy Shipping Company (招商南油) and China Merchants Industry Holdings (招商轮船) in the shipping industry, particularly in response to market challenges and operational strategies [1][2][3] Group 2 - In the first half of 2025, China Merchants Energy Shipping reported a revenue of 2.772 billion yuan, a year-on-year decrease of 21.43%, and a net profit attributable to shareholders of 570 million yuan, down 53.28% [1] - The decline in performance is attributed to a significant drop in international refined oil freight rates and a decrease in asset disposal income [1] - The company plans to focus on building a global fleet primarily with Medium Range (MR) vessels and supplementing with Long Range (LR) vessels to enhance performance [2] Group 3 - China Merchants Energy Shipping announced a share repurchase plan, intending to buy back shares worth between 250 million yuan and 400 million yuan to reduce registered capital [2] - The company has a history of significant losses leading to a negative retained earnings situation, which has improved but remains at -1.269 billion yuan as of June 2025, thus not meeting conditions for cash dividends [2] - The management has prioritized investor returns through share buybacks instead of cash dividends, having repurchased a total of 222 million shares using 550 million yuan over the years [2] Group 4 - In contrast, China Merchants Industry Holdings has mitigated the downturn in the oil tanker and dry bulk shipping markets through diversified business operations, showing improved performance in the second quarter [3]