COSCO Shipping Holdings (01919) announces profit growth, expecting a net profit of approximately 49.082 billion yuan for the full year of 2024, an increase of approximately 105.71% year-on-year.

COSCO Shipping Holdings (01919) announced that the group is expected to achieve a profit before tax of approximately RMB 69.926 billion in 2024, an increase of about 90.67% year-on-year; net profit is expected to be approximately RMB 55.372 billion, an increase of about 94.99% year-on-year; net profit attributable to shareholders of the listed company is expected to be approximately RMB 49.082 billion, an increase of about 105.71% year-on-year; net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses is expected to be approximately RMB 48.989 billion, an increase of about 106.25% year-on-year. In 2024, the overall container shipping market is showing a moderate growth trend, with factors such as the ongoing situation in the Red Sea leading to effective capacity shortages and relatively high market prices. Faced with the complex global economic and trade situation, the company insists on responding to external uncertainties with the certainty of its own development. In the construction of the main shipping routes of container shipping, it always maintains a "steady progress" approach, continuously seeks new opportunities in digital intelligence and green low-carbon development, enhances global supply chain resilience, continuously develops the integrated full-chain service brand of "container shipping + ports + related logistics," effectively improving the core competitiveness of the enterprise. In 2024, the company's container shipping business achieved a simultaneous increase in volume and price compared to the previous year, achieving good operating performance.