COSCO SHIPPING Development (601866) Q4 2025 earnings summary

Executive summary

• Revenue reached RMB24.98 billion in 2025, with profit before tax from continuing operations up 33.57% year-over-year to RMB2.07 billion.

• Profit attributable to owners from continuing operations rose 9.31% year-over-year to RMB1.61 billion; basic EPS was RMB0.1214.

• The company paid an interim dividend of RMB0.022 per share and proposed a final dividend of RMB0.015 per share, totaling RMB0.037 per share for the year.

• Strategic focus included industry-finance integration, digital transformation, green development, and value creation for shareholders.

Financial highlights

• Revenue decreased 8.85% year-over-year, mainly due to lower container manufacturing and shipping leasing revenues.

• Gross profit was RMB4.49 billion, down from RMB4.64 billion in 2024.

• Net cash generated from operating activities was RMB5.19 billion, a decrease from the prior year.

• Net gearing ratio increased to 263.52% due to higher liabilities.

• Cash and cash equivalents stood at RMB10.25 billion at year-end.

Outlook and guidance

• The company expects continued industry transformation in 2026, focusing on digital intelligence, green development, and value creation.

• Plans include advancing high-end container products, expanding shipping and container leasing, and strengthening investment management.