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

2866.HK
Ligent does AI

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

No related posts.

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

World Road does logistics

World Road faces bumpy path to Nasdaq listing

The cross-border logistics company has quadrupled the size of its IPO in response to new rules seeking to stamp out suspicious new Chinese listings, seeking to raise $33 million Key…
ASR looks to climb up the value chain

Volume chipmaker ASR looks to climb up the value chain

The global leader in cellular connectivity chips has filed for a Hong Kong listing as it accelerates its push into the higher-margin business of specialized ASIC chips Key Takeaways: ASR…
688220.SHG
Tinci IPO gets CSRC approval

Is Tinci Materials limping to a Hong Kong IPO?

China’s securities regulator has given the green light to the battery materials maker’s Hong Kong listing application, but only after a year of scrutiny Key Takeaways: Tinci Materials has been…
002709.SHE