COSCO SHIPPING Holdings Co., Ltd. (“COSCO SHIPPING Holdings” or “the Company”, SSE: 601919; HKEx: 1919) today announced its 2025 interim results.
The tariff swings and geopolitical tensions
In the first half of 2025, the demand and freight rates of global container shipping market remained volatile amid multiple factors such as the tariff swings and lingering geopolitical tensions. In the face of highly uncertain external environment,
Enhancement in operating efficiency
COSCO SHIPPING Holdings proactively identified and responded to changes. While driving steady enhancement in operating efficiency, it leveraged its two new growth drivers, digital intelligence and green low-carbon development, to expedite the synergetic development of core container shipping business and digital supply chain business.
Outstanding operating performance
l Outstanding operating performance. The Company achieved operating revenue of RMB109.10 billion, representing a 7.78% year-on-year increase. It realized EBIT of RMB25.49 billion, representing an increase of 3.40% year-on-year;
EBIT margin
EBIT margin reached 23.37%; the net profit of the Company was approximately RMB20.21 billion, representing an increase of 4.95% year-on-year; the net profit attributable to the shareholders of the Company was approximately RMB17.54 billion, representing an increase of 3.95% year-on-year.
Resilient growth
Resilient growth in the Company’s core business. The revenue from container shipping business was RMB104.80 billion, representing a 7.49% year-on-year increase. The revenue from container terminal business was RMB5.84 billion, representing a 14.75% year-on-year increase.
A sound financial position
Retention of a sound financial position. The Company’s net cash inflow from operating activities was RMB25.78 billion. The net finance income of the Company was RMB2.10 billion, investment income reached RMB3.02 billion, and the liability-to-asset ratio was 43.25%.
Distribution policy
Continuation of a steady dividend distribution policy. The Board of Directors announced the payment of an interim cash dividend for 2025 of RMB0.56(tax inclusive) per share to all shareholders, with the cash dividend payout accounting for approximately 50% of the net profit attributable to shareholders of the Company.
Continuation of Share Repurchase Program. In the first half of the year, the Company stepped up its repurchases, and repurchased a total of approximately 102 million A-shares and approximately 237 million H-shares, all of which were cancelled. With continual implementation of the Company’s share repurchase plan, earnings per share climbed further and shareholders’ rights were effectively protected.
Share Repurchase Program
During the Reporting Period, COSCO SHIPPING Holdings adhered to the principle of steadily driving growth. It actively built an integrated and intelligent supply chain system comprising “container shipping + ports + related logistics”, innovated business models through integrated global resources, and promoted efficient operation and high-quality development.
Core business capabilities
Core business capabilities leapt to a new level while resilience was markedly strengthened. COSCO SHIPPING Holdings took advantage of the latest globalization trend to accelerate the expansion, structural optimization and modernization of its fleet. After taking delivery of a number of vessels ordered, the Company’s self-operated container fleet currently comprises 557 vessels with a total capacity of over 3.4 million TEUs.
The Company possessed new orderbook with a total capacity of nearly 910,000 TEUs, hence strengthening its first-tier ranking in the industry in terms of shipping capacity. Underpinned by its leading scale advantages together with visionary and systematic analysis, the Company effectively responded to changes in market supply and demand.
By dynamically reallocating the shipping capacity on the Far East to Northwest Europe and Trans-Pacific routes, and increasing the shipping capacity of Southeast Asia routes, it reinforced its share in core markets and vigorously expanded into emerging markets, regional markets and third-country markets, thereby enabling it to better meet the needs of customers’ industrial chain and supply chain layout globally.
During the Reporting Period, the container shipping business handled 13.28 million TEUs, up by 6.59% year-on-year. Freight volumes on Trans-Pacific routes, Asia-Europe routes, Intra-Asia routes, other international routes (including Africa/Latin America) and China’s coastal and inland routes increased by 4.72%, 3.88%, 5.21%, 11.95% and 9.53% year-on-year, respectively. The Company’s main business remained stable.
The revenue of supply chain
The revenue from supply chain other than ocean shipping reached RMB21.58 billion, representing an 8.37% year-on-year increase. By enhancing efficiency, integrating resources and extending value, the full-chain supply chain service effectively mitigates the impact of market demand fluctuations on shipping business, ensuring the continuous and stable operation of the core business.
Deepened digital intelligence and green transformation
Deepened digital intelligence and green transformation with remarkable achievements in high-quality development. In terms of digital intelligence transformation, the Company is actively expanding the application scenarios of artificial intelligence, promoting intelligent production, integrated operation and agile service
Looking ahead
Looking ahead, the container shipping industry is expected to remain complex and volatile. The domino effects of economic and trade policies coupled with ongoing geopolitical tensions, the reshaping of competitive landscape triggered by technological and green transformation, and the frequent occurrence of various unforeseen events, all may have a profound impact on the overall market development.
