COSCO SHIPPING (1919) H1 2026 earnings summary

Executive summary

• Revenue for H1 2026 rose 2.6% year-over-year to RMB111.92 billion, while net profit attributable to equity holders fell 23.6% to RMB13.39 billion due to higher costs and lower margins or other income.

• EBIT margin dropped to 14.15% from 20.52% year-over-year, with EBIT at RMB15.19 billion or RMB19.59 billion as reported.

• Interim cash dividend of RMB0.43 per share declared, representing about 49% payout of net profit.

• The company continued to expand its fleet, optimize global routes, and invest in digital and green transformation.

Financial highlights

• Container shipping revenue grew 2.4% to RMB107.30 billion; terminal business revenue increased 8.3% to RMB6.33 billion.

• Operating costs rose 6.1% year-over-year, mainly from equipment, voyage, and vessel costs, totaling RMB91.99 billion.

• Net cash from operating activities was RMB23.33 billion, down 9.5% year-over-year.

• Cash and cash equivalents at period end were RMB140.84 billion.

Outlook and guidance

• Management expects intensified complexity and uncertainty in the global container shipping market, with higher requirements for service reliability and resilience.

• The company will focus on digital intelligence, green transformation, and enhancing full-chain supply chain services.