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China Merchants Energy Shipping (601872) investor relations material
China Merchants Energy Shipping Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for Q1 2026 reached RMB 8.56 billion, up 52.92% year-over-year, with net profit attributable to shareholders at RMB 2.76 billion, up 219.31% year-over-year.
Strong performance driven by oil tanker and dry bulk segments, with oil tanker profits up over fourfold and dry bulk net profit up 172.33% year-over-year.
Cash flow from operating activities increased 140.13% year-over-year to RMB 3.31 billion.
Financial highlights
Operating income: RMB 8.56 billion, up 52.92% year-over-year.
Net profit attributable to shareholders: RMB 2.76 billion, up 219.31% year-over-year.
Basic and diluted EPS: RMB 0.34, up 209.09% year-over-year.
Total assets at quarter-end: RMB 85.26 billion, up 3.91% from year-end 2025.
Net cash from operating activities: RMB 3.31 billion, up 140.13% year-over-year.
Outlook and guidance
Oil tanker segment has locked in nearly half of Q2 operating days at rates significantly higher than Q1, providing a solid foundation for continued strong performance.
LNG shipping segment expects to enter a period of rapid investment returns as 32 vessels under construction are delivered in coming years.
- Net profit surged 17.7% to RMB 6.01 billion on 9.2% revenue growth, with robust dividends.601872
H2 202527 Mar 2026 - Net profit rose 5.6% to ¥5.11B, with 43.3% of profit returned to shareholders.601872
H2 202424 Dec 2025 - Q3 profit surged on tanker and container strength, but dry bulk and ro-ro lagged; LNG expanded.601872
Q3 202524 Dec 2025 - Revenue and profit fell, but global fleet leadership and strong cash returns were maintained.601872
H1 202524 Dec 2025 - Net profit fell 11.7% in Q3 as dry bulk outperformed but oil tanker and container profits declined.601872
Q3 202413 Jun 2025 - Net profit dropped 9.88% to RMB 2.50B despite higher revenue, with dry bulk outperforming.601872
H1 202413 Jun 2025 - Net profit dropped 37% in Q1 2025 as tanker and dry bulk rates slumped.601872
Q1 20256 Jun 2025
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