CSBC (2208) investor relations material

Executive summary

• Revenue for the six months ended June 30, 2026 was $9.59 billion, down from $13.84 billion year-over-year, reflecting a significant contraction in business volume.

• Net profit for the six months ended June 30, 2026 was $354.9 million, a turnaround from a net loss of $2.53 billion in the prior year period.

• Basic earnings per share for the six months was $0.28, compared to a loss per share of $1.98 year-over-year.

Financial highlights

• Gross margin improved as operating loss narrowed to $566.2 million for the six months, compared to $2.59 billion loss year-over-year.

• Operating expenses decreased to $348.0 million from $367.8 million year-over-year.

• Non-operating income, mainly from equity method investments, contributed $1.28 billion, up from $439.7 million year-over-year.

• Cash and cash equivalents at June 30, 2026 were $1.35 billion, down from $3.40 billion a year earlier.

• Gearing ratio increased to 86% from 84% year-over-year, reflecting higher leverage.

Outlook and guidance

• Unfulfilled contract obligations stood at $120.4 billion as of June 30, 2026, with revenue recognition expected through October 2031.

• The company expects continued revenue from long-term shipbuilding and anti-corrosion contracts.