COSCO Shipping Energy Transportation (600026.SH) releases forecasted increase, expecting a net profit of 3.96 billion yuan for the year 2024, representing a year-on-year growth of approximately 17.2%.

COSCO Shipping Energy Transportation (600026.SH) disclosed its annual performance forecast for 2024, with the company expecting a net profit attributable to shareholders of the listed company of approximately 3.96 billion yuan, an increase of 580 million yuan compared to the same period last year (restated), a year-on-year growth of approximately 17.2%; The company also expects to achieve a net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses of approximately 3.95 billion yuan, a decrease of 180 million yuan compared to the same period last year (restated), a year-on-year decrease of approximately 4.4%. The company accurately assesses market trends, deploys ship capacity prudently, and ensures that the overall operation of the tanker fleet continues on a positive trajectory: First, firmly grasp the core domestic transportation business, actively follow up on the transit demand of foreign trade customers, and strengthen the competitiveness and stability of the domestic market; Second, dynamically implement the linkage between domestic and international trade, black and white oil, pay attention to the different trends in various segmented markets, and ensure maximum fleet revenue with reasonable capacity allocation; Third, deepen global layout and increase market participation. The group focuses on capacity planning in key routes and regions, actively participates in pipeline supporting transportation projects, and obtains diversified operating income. The net income from non-recurring gains and losses items such as vessel disposal, government subsidies, and expected losses in 2024 is approximately 10 million yuan, while the net loss from non-recurring gains and losses items in the same period last year (restated) was approximately 750 million yuan.