Zhi Tong Cai Jing·2026-01-09 11:54Core Viewpoint - China Shipbuilding Defense (中船防务) expects a significant increase in net profit for the year 2025, projecting a range of RMB 940 million to RMB 1.12 billion, which represents a year-on-year growth of 149.61% to 196.88% [1] Group 1: Financial Performance - The company anticipates a net profit attributable to shareholders, excluding non-recurring gains and losses, to be between RMB 850 million and RMB 1.02 billion, reflecting a year-on-year increase of 153.27% to 203.93% [1] - The steady growth in operating performance is attributed to increased revenue from shipbuilding products and improved production efficiency, along with enhanced gross margins year-on-year [1] Group 2: Investment Gains - The significant improvement in the operating performance of joint ventures has led to an increase in dividend income from associated companies, resulting in a substantial year-on-year rise in investment income recognized by the company [1]