CSSC Offshore & Marine Engineering (HKG:0317, SHA:600685) expects net profit attributable to owners of the parent for the first half to rise between 213% and 268% year over year to between 460 million yuan and 540 million yuan, according to a Monday Hong Kong bourse filing.

Hong Kong shares of the company were down about 3% in Tuesday's recent trade.

Profit excluding non-recurring items is projected to reach 430 million yuan to 510 million yuan, up from 131.1 million yuan a year earlier.

The company cited stronger gross margins from ship product deliveries, improved production efficiency, and higher investment income from associates and dividends as key contributors to the sharp increase.