COSCO SHIPPING Development (601866) Q3 2026 earnings summary

Executive summary

• 9M revenue was RMB20.845bn, up 6.54% YoY; attributable net income was RMB1.507bn, up 8.35%.

• Q3 revenue was RMB7.226bn, down 1.12% YoY; attributable net income rose 20.48% to RMB506.5m, and adjusted net income rose 28.57% to RMB504.4m.

• Operations focused on production, financing and investment; market expansion, product innovation and efficiency initiatives supported steady progress.

Financial highlights

• 9M total profit was RMB1.663bn, down 6.41% YoY; consolidated net income was RMB1.385bn versus RMB1.460bn in 9M 2025.

• 9M operating cash flow was RMB2.108bn, down 19.93% YoY; investing cash flow was negative RMB8.434bn versus negative RMB851.7m a year earlier.

• Total assets reached RMB145.487bn at Sep. 30, up 10.56% from year-end 2025; parent-attributable equity was RMB31.502bn, up 2.31%.

Segment performance

• Container manufacturing generated 9M revenue of RMB17.79bn, with steady growth; sales of special containers rose significantly, including upgraded vehicle frames, smart planting containers and modular housing.

• Shipping leasing revenue was RMB1.498bn in 9M; 12 vessels were delivered and leased during the year, with operating returns gradually contributing.

• Container leasing revenue was RMB4.172bn in 9M, with steady growth; expansion in South America and Africa, digital platform improvements and a broader special-container fleet supported the business.