COSCO SHIPPING Energy Transportation (1138) Q1 2026 earnings summary

Executive summary

• Revenue rose 26.9% year-over-year to RMB7.30 billion for Q1 2026, with net profit attributable to shareholders up 206.7% to RMB2.17 billion, driven by strong international oil shipping markets and effective management.

• Gross profit surged 202.4% year-over-year, reflecting high freight rates and operational efficiency.

• Net cash flow from operating activities increased 262.2% year-over-year to RMB3.77 billion, supported by timely freight income collection and higher transportation income.

Financial highlights

• Operating revenue: RMB7.30 billion (up 26.9% year-over-year).

• Gross profit: RMB2.95 billion (up 202.4% year-over-year).

• Net profit attributable to shareholders: RMB2.17 billion (up 206.7% year-over-year).

• Basic EPS: RMB0.3977 (up 167.8% year-over-year).

• Net cash flow from operating activities: RMB3.77 billion (up 262.2% year-over-year).

• Total assets: RMB94.45 billion (up 2.6% from December 2025).

• Net assets attributable to shareholders: RMB48.21 billion (up 3.9% from December 2025).

Outlook and guidance

• International oil shipping market remains strong but faces volatility due to geopolitical events, particularly in the Strait of Hormuz.

• The company expects continued uncertainty and will focus on flexible route adjustments and dynamic capacity allocation.