Ningbo Zhoushan Port (601018) Q4 2025 earnings summary

Executive summary

• Revenue reached RMB 31.02 billion, up 7.4% year-over-year, with net profit attributable to shareholders at RMB 5.17 billion, a 5.6% increase from the prior year.

• Main revenue drivers were container, iron ore, crude oil, and other cargo handling, as well as integrated logistics and trade.

• The company completed several acquisitions, including Far East Terminal, and expanded its consolidated scope.

Financial highlights

• Operating income: RMB 7.23 billion, up from RMB 6.90 billion year-over-year.

• Net profit: RMB 5.67 billion, up from RMB 5.40 billion year-over-year.

• Basic and diluted EPS: RMB 0.27, compared to RMB 0.25 last year.

• Total assets: RMB 123.43 billion, up from RMB 113.51 billion at prior year-end.

• Operating cash flow: RMB 13.45 billion, up from RMB 6.82 billion year-over-year.

• Non-recurring profit and loss: RMB 954 million, mainly from government grants and asset disposals.

Outlook and guidance

• Management expects continued growth in core port and logistics operations, with ongoing infrastructure investments and integration of newly acquired subsidiaries.

• Dividend proposal: RMB 2,334 million (RMB 1.20 per 10 shares), pending shareholder approval.