COSCO SHIPPING Holdings Co., Ltd. released its unaudited interim results for the six months ended 30 June 2026. Revenue inched up 2.59 % year on year to RMB111.92 billion, underpinned by resilient container volumes, but earnings retreated from last year’s high base.
Operating performance • Profit attributable to equity holders declined 23.60 % to RMB13.39 billion, with basic EPS down to RMB0.88 from RMB1.12. • Group EBIT dropped 26.26 % to RMB19.59 billion; net profit fell 22.44 % to RMB15.66 billion. • Container-shipping revenue rose 2.38 % to RMB107.30 billion, while terminal revenue grew 8.30 % to RMB6.33 billion. Container-shipping EBIT margin narrowed to 14.15 % from 20.52 %. • Total liftings increased 7.52 % to 14.28 million TEUs, led by double-digit growth on Trans-Pacific (+9.72 %) and Asia–Europe (+12.44 %) trades.
Cost and cash metrics • Service costs climbed 6.14 % to RMB91.99 billion, outpacing revenue growth and pressuring margins. • Net finance income fell to RMB0.45 billion from RMB1.44 billion due to lower deposit rates and reduced average cash balances. • Operating cash inflow moderated 9.49 % to RMB23.33 billion; cash and cash equivalents stood at RMB140.84 billion, down 6.66 % from end-2025. • Gross borrowings declined to RMB29.96 billion; the net cash-to-equity ratio improved to 24.28 %.
Capital expenditure and commitments • The Group has 82 container vessels on order, representing future capex commitments of RMB75.51 billion, and terminal investment commitments of RMB2.82 billion. • In January 2026 the company contracted for 12 LNG dual-fuel 18,000 TEU vessels (RMB16.79 billion) and six 3,000 TEU vessels (RMB1.98 billion). • Subsidiary OOIL signed US$2.22 billion of orders for twelve 13,600 TEU LNG dual-fuel ships in April.
Balance-sheet highlights • Total assets were largely stable at RMB483.63 billion. • Net current assets fell 9.50 % to RMB52.74 billion, reflecting higher working-capital use and investment outlays.
Corporate actions • The Board declared an interim cash dividend of RMB0.43 per share (49 % payout ratio), amounting to roughly RMB6.57 billion; ex-dividend date is 23 September 2026 with payment on 23 October 2026. • During 1H 2026 the company repurchased 44.89 million H shares for HK$0.67 billion and cancelled 178.24 million shares (55.10 million A shares and 123.34 million H shares). • In March 2026 COSCO SHIPPING became the direct controlling shareholder after receiving a 17.04 % stake via in-group transfer, raising its total concert-party holding to 45.78 %. • In April COSCO SHIPPING Freight acquired the remaining 49 % of SeaTrade International for US$2.26 million, taking full ownership.
Outlook stated by management Management highlighted persistent geopolitical risks, supply-demand volatility and fuel-price swings as ongoing industry challenges. The Company will continue to expand its fleet (current and on-order capacity exceeds 5.30 million TEUs), deepen global route integration, grow end-to-end logistics offerings and accelerate digital and green initiatives to strengthen resilience and service quality.
Regulatory and tax notes Interim dividends to H-shareholders will be paid in Hong Kong dollars (HK$0.496897 per share) with applicable PRC withholding tax arrangements for mainland investors via Stock Connect. The dividend for A-shareholders will be settled in RMB.
No other significant events or undisclosed matters were noted during the period.