Group 1 - DH Shipbuilding reported consolidated revenue of 296 billion KRW (approximately 1.53 billion RMB) in Q2, a year-on-year increase of 16.7% [1] - The company achieved an operating profit of 62.5 billion KRW (approximately 320 million RMB) in Q2, representing a year-on-year growth of 84.4% [1] - For the first half of the year, DH Shipbuilding accumulated revenue of 603.7 billion KRW (approximately 3.12 billion RMB) and an operating profit of 132.2 billion KRW (approximately 680 million RMB), with an operating margin of 21.9% [1] Group 2 - Since being acquired by KH Investment Group in 2022, DH Shipbuilding has implemented strategies focused on high-value-added vessels, internalizing external manufacturing segments, maximizing equipment efficiency, and fine-tuning cost management, leading to improved revenue and profitability [3] - The company has stabilized the delivery of its main vessel types at a rate of one vessel per month in the first half of the year, with plans to start constructing high-value-added vessels like oil tankers in the second half [3] - DH Shipbuilding aims to maintain its industry-leading operating profit margin and establish itself as a competitive shipyard in the global market [3] Group 3 - In 2023, DH Shipbuilding received orders for two Suezmax oil tankers from Greek shipping company Sun Enterprises, with a total order value of approximately 180 million USD, expected to be delivered in Q1 2027 [4]

Core Viewpoint - Scorpio Tankers reported a significant decline in net profit for Q2 2025, reflecting the impact of geopolitical uncertainties on the shipping industry, while maintaining a cautious outlook and announcing a quarterly dividend [1][3]. Financial Performance - For Q2 2025, Scorpio Tankers achieved revenue of $230.2 million, a year-over-year decrease of 39.5% but a quarter-over-quarter increase of 7.6% [3][4]. - Operating profit for the same period was $79.1 million, down 68.8% year-over-year, while adjusted EBITDA was $144.5 million, reflecting a 48.0% decline [3][4]. - Net profit reached $73.5 million, a decrease of 67.7% year-over-year but an increase of 26.3% from the previous quarter [3][4]. Fleet Performance - The average daily Time Charter Equivalent (TCE) for the fleet in Q2 2025 was $25,569, down 34.1% year-over-year but up 6.7% quarter-over-quarter [3][5]. - The daily TCE for the LR2 fleet was $32,674, down 30.7% year-over-year; for the MR fleet, it was $20,681, down 41.9%; and for the Handymax fleet, it was $22,595, down 19.3% [3][5]. Dividend and Shareholding - The board announced a quarterly cash dividend of $0.40 per share [1]. - In Q2 2025, Scorpio Tankers sold 2.745 million shares of DHT at an average price of $12.07 per share, realizing part of the gains, and currently holds approximately 8.832 million shares of DHT, representing about 5.5% of the issued common stock [8]. Future Outlook - For Q3 2025, Scorpio Tankers anticipates the spot market day rates for the LR2 fleet to reach $31,000, with 47% of operational day income locked in; for the MR fleet, the expected rate is $22,000 with 45% locked in; and for the Handymax fleet, $19,000 with 33% locked in [8].