CONTIOCEAN (02613) has released its annual results for the period ended December 31, 2025. The company reported revenue of approximately RMB 383 million, representing a decrease of 37.63% compared to the previous year. Profit attributable to owners of the company was RMB 5.637 million, a significant decline of 95.34% year-on-year. Earnings per share were RMB 0.14.

Between 2024 and 2025, the Group's revenue from mainland China decreased by approximately RMB 89.8 million. This was primarily due to the fact that many new domestic orders secured in 2025 were for new vessel construction, which typically have longer delivery cycles. As a result, these orders were not completed, and the related revenue was not recognized during the reporting period.

From 2024 to 2025, the Group's overseas revenue decreased by approximately RMB 141 million. The main reasons for this decline include the extension of delivery cycles for new vessel construction orders obtained by the Group since 2024. Many overseas clients have shifted their preference towards signing contracts for new vessel orders through domestic shipyards, leading to a reduction in the Group's overseas revenue. Furthermore, market volatility caused by geopolitical tensions and tariffs has impacted China's shipbuilding and shipping industries. Compounding this, shipyard repair schedules have entered a peak period, and maintenance costs charged by domestic shipyards have risen substantially, causing overseas shipowners to倾向倾向于 postpone vessel modifications.