Cosco Shipping Holdings announces preliminary results for first half of 2022

Net profit skyrockets by over 74%

On July 6, Cosco Shipping Holdings released an announcement on the half-year results projection for 2022.

The net profit attributable to equity holders of the listed company for the first half of 2022 is expected to be approximately RMB64.716 billion, representing an increase of approximately RMB27.618 billion or 74.45% compared with the same period of the previous year.

The net profit after nonrecurring gain and loss attributable to equity holders of the listed company for the first half of 2022 is expected to be approximately RMB64.436 billion, representing an increase of about RMB27.416 billion or 74.06% year-over-year.

The EBIT for the first half of 2022 is expected to be approximately RMB95.245 billion, representing an increase of about RMB45.658 billion or 92.08% year-over-year.

In the first half of 2022, the supply and demand of international container transportation service was relatively tight and the export freight rates of main routes remained high. During the reporting period, the average value of China Container Freight Index (CCFI) was 3,286.03 points, representing a year-over-year increase of 59%.

During the reporting period, the global supply chain was severely sluggish due to the impact of the COVID-19 pandemic, and global customers put forward higher requirements on the stability and resilience of the supply chain.

By adhering to the business philosophy of “customer first,” COSCO SHIPPING Holdings has been working to ensure fleet capacity and to meet the market demand for containers, providing flexible alternative solutions, such as “water-to-water” transit and “water-rail" intermodal transport, and fully utilizing technological innovation and digitalization in the supply chain system to help customers tide over the challenging times and contribute to the stability of global supply chains.

[ RMB1 = €0,15 ]

For more information: En.coscoshipping.com


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