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Sinotrans (598) investor relations material
Sinotrans Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 operating income rose 4.16% YoY to RMB25.53bn; attributable net profit increased 29.88% to RMB951.2m, supported by core-business efficiency and higher joint-venture investment income.
For 9M, operating income declined 4.07% to RMB71.99bn and attributable net profit was nearly flat at RMB2.68bn, down 0.12% YoY.
Financial highlights
Q3 total profit was RMB1.245bn, up 25.25% YoY; net profit excluding non-recurring items was RMB884.7m, up 29.05%.
9M total profit increased 0.33% to RMB3.616bn; adjusted net profit excluding non-recurring items rose 21.18% to RMB2.525bn.
9M operating income was RMB71.987bn versus RMB75.038bn in 2025; operating costs were RMB67.448bn versus RMB70.751bn.
9M net profit attributable to shareholders was RMB2.676bn versus RMB2.679bn; net profit was RMB2.895bn versus RMB2.912bn.
Segment performance
9M contract logistics volume was 35.026m tonnes versus 38.238m; project logistics rose to 6.399m tonnes from 5.295m, while chemical logistics fell to 3.357m tonnes from 3.562m.
Sea freight forwarding volume rose to 12.141m TEUs from 11.793m; railway forwarding increased to 566k TEUs from 392k, while air forwarding decreased to 586k tonnes from 609k.
Shipping agency volume increased to 58,424 vessel calls from 55,936; storage and yard services declined to 19.665m tonnes from 21.547m.
Cross-border e-commerce logistics volume fell to 32k tonnes from 55k; logistics e-commerce platform volume declined to 1.210m TEUs from 2.917m.
- Revenue up 17% YoY to RMB 61.68B, net profit down 11%, payout ratio at 54.17%.598
H1 2024 - Revenue up 18% but net profit down 10% as costs and cash flow pressures persist.598
Q3 2024 - Revenue hit CNY 105.6 billion, with robust overseas growth and a 55.24% payout ratio.598
H2 2024 - Net profit dropped 19.76% year-over-year amid lower investment income and trade headwinds.598
Q1 2025 - Revenue and profit rose, overseas business expanded, and digital innovation accelerated.598
H2 2025 - Revenue fell 10.4% YoY to RMB 50.52B, net profit stable, dividend payout ratio rose.598
H1 2025 - Operating income and profit fell year-over-year, but operating cash flow rose sharply.598
Q3 2025 - Net profit net of non-recurring items rose 17.33% YoY despite lower revenue and strong overseas gains.598
H1 2026 - Net profit rose 5.65% year-over-year despite a 9.35% drop in operating income.598
Q1 2026
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