Shipbuilder CSSC expects over $1.28 billion net profit in H1 2026

(ECNS) — China CSSC Holdings Limited (CSSC), a Shanghai-listed shipbuilder controlled by China State Shipbuilding Corporation Limited, said Monday that it expects to post a net profit attributable to shareholders of between 9.2 billion and 11 billion yuan (about $1.28 billion to $1.53 billion) for the first half of 2026.

That would mark an increase of 6.254 billion to 8.054 billion yuan, or 212.29% to 273.39%, from a year earlier.

The surge follows the company's absorption of China Shipbuilding Industry Company Limited (CSIC), completed in September 2025, whose results have been consolidated into CSSC's accounts since the third quarter of that year.

CSSC credited the strong performance to an ample order backlog and full production schedules, adding that its mature construction system and economies of scale in batch production have kept operations stable.

Over the period, the company sharpened its focus on core business, tightened lean management, and deepened cost control. Deliveries of civilian vessels rose, with a greater share of mid-to-high-end ships and higher average prices per vessel.

CSSC is the largest listed shipbuilder on China's A-share market by market capitalization, with a total market value of more than 250 billion yuan (about $34.8 billion) as of Monday's close.

(By Tang Yuxian)