中国船舶：前三季度净利润同比增长115% 民品船舶价格同比提升

Core Viewpoint - China Shipbuilding (600150.SH) reported strong financial performance for Q3 2025, with significant year-on-year growth in both revenue and net profit, indicating a positive trend in the shipbuilding industry [1] Financial Performance - Q3 revenue reached 34.763 billion, a year-on-year increase of 4.76% [1] - Q3 net profit was 2.074 billion, showing a remarkable year-on-year growth of 97.56% [1] - Revenue for the first three quarters totaled 107.403 billion, reflecting a year-on-year growth of 17.96% [1] - Net profit for the first three quarters amounted to 5.852 billion, with a year-on-year increase of 115.41% [1] Industry Trends - The shipbuilding industry is maintaining a good development trend, supported by an optimized order structure [1] - The prices of delivered civil vessels increased year-on-year, contributing to improved revenue [1] - Effective cost control in construction has led to an increase in gross profit margin [1] - The performance of joint ventures has improved, resulting in increased long-term equity investment income recognized under the equity method [1]