China CSSC (600150) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 13.88% YoY; YTD revenue increased 22.08% to ¥131.12bn, while YTD parent-attributable net profit grew 129.67% to ¥13.44bn.

• YTD operating cash flow reached ¥21.895bn, up 607.49% YoY, supported by higher shipbuilding milestone payments and cash receipts from sales and services.

Financial highlights

• Q3 revenue was ¥39.59bn, up 13.88% YoY; total profit was ¥4.84bn, up 67.50%, and parent-attributable net profit was ¥3.49bn, up 68.07%.

• YTD total profit rose 101.80% to ¥16.70bn; parent-attributable net profit increased 129.67% to ¥13.44bn.

• YTD net profit attributable to shareholders excluding non-recurring items was ¥13.54bn, up 209.01% YoY.

• YTD diluted and basic EPS were both ¥1.786, up 80.95% YoY; Q3 EPS was ¥0.463, up 32.29%.

Segment performance

• Delivered 145 civilian vessels in the first nine months; vessel deliveries and gross profit both increased YoY.

• Management cited stronger order-taking and production delivery, an improved order book mix, and continued improvement in overall profitability.