BRIEF: Cosco Shipping’s first-quarter profit rises 7%

2866.HK

Cosco Shipping Development Co. Ltd. (2866.HK) on Wednesday reported a profit of 480 million yuan ($65 million) for the first quarter, up 7.4% from the same period last year. Excluding non-recurring gains and losses, its profit for the period more than doubled to 466 million yuan.

The company said it will focus this year on integrating scientific and technological resources, developing high value-added products, and promoting the development of smart and low-carbon containers. Cosco Shipping’s shares opened up 2.4% at HK$0.86 on Thursday. The stock is down 30% from its 52-week high.

By Lau Chi Hang

To subscribe to Bamboo Works weekly free newsletter, click here

,
, ,

Related Articles

RELATED ARTICLES

  1. vipshop does e-commerce
    BRIEF: J&T Express’ first-quarter parcel volume rises 31.2%
    1519.HK
  2. DouYu swims away from livestreaming in search of fresher waters
    DOYU.US
  3. ECARX reports its first profit, expects added revenue from Volkswagen tie-up
    ECX.US
Discover hidden China stock gems in our weekly newsletter

Follow us

Facebook Twitter Linkedin Weixin Weibo Youtube

Subscribe to Our Free eNewsletter

Subscribe

Check out our content with some of our syndication partners

factiva

Recent Articles

Illustration of China's hydrogen battery industry

China plays defense on EV batteries, offense on hydrogen

China rolls out new rules restricting the export of cutting-edge technology for EV battery manufacturing. How will this affect Chinese battery makers setting up factories abroad? And hydrogen fuel cell maker Refire reports its revenue fell 10% in the first half of the year. What does this say about a Chinese sector that's getting huge government support, but has yet to find a mass audience?
3750.HK 2570.HK
East Buy does e-commerce

Work in progress: East Buy reinvents itself – again

The former educator-turned-livestreaming e-commerce company is trying to become an online version of discount specialist Sam’s Club with its own private label business Key Takeaways: East Buy returned to profitability…
1797.HK