【Shipping Stock Performance】COSCO Shipping Ports' Profit Growth Exceeded 1% Last Year; Declares Second Interim Dividend of $1.328 per Share; Closely Monitoring Middle East Situation

COSCO SHIPPING Ports (01199)
Announces that by 2025, profits will reach $312 million (same below), a year-on-year increase of 1.08%; basic earnings per share of 8.14 cents, and a second interim dividend of $1.328 per share (about 10.2 HK cents). The company states that, in response to the current Middle East situation, it will maintain close monitoring, cautiously assess potential impacts, and take timely measures to ensure stable business operations.

During the period, the company’s revenue was 1.669 billion yuan, up 11.05% year-on-year. Cost of sales was 1.253 billion yuan, an increase of 15.4% year-on-year. Administrative expenses were 185 million yuan, up 9.3% year-on-year, mainly due to overall labor cost increases and the official operation of CSP Qian Kai Terminal, which added administrative expenses.

Total throughput increased by over 6% year-on-year

The company states that last year, total throughput increased by 6.2% to approximately 153 million TEUs. Among them, the group’s controlled terminal throughput was 33.2469 million TEUs, up 1.8% year-on-year; non-controlled terminal throughput increased by 7.5% to about 120 million TEUs, accounting for 78.3% of total throughput.

As for attributable throughput, last year it reached 46.85 million TEUs, an increase of 3.4% year-on-year. Among them, controlled terminal attributable throughput decreased by 2% to 19.5667 million TEUs, accounting for 41.8%; non-controlled terminal attributable throughput increased by 7.6% to 27.2833 million TEUs, accounting for 58.2%.

Four areas to enhance competitiveness and core functions

The company also states that, in 2026, the global geopolitical situation remains complex and severe, with ongoing trade uncertainties. The company will focus on four aspects to enhance its core competitiveness and functions: continuing to improve global development layout, strengthening operational synergy, reinforcing network integration, and accelerating innovation-driven growth.

Regarding network integration, the company announced that it will promote a shift from “single-point construction” to “network collaboration,” strengthening the backbone and branch line networks and channel construction at key hubs to enhance transshipment radiation capacity. At the same time, it will vigorously develop integrated “port + logistics” services, promote standardized supply chain products, and provide customized full-process solutions for emerging cargo types such as photovoltaics and energy storage.