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

2866.HK
Jiangxi Copper makes resources

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

Harrods retreats from Shanghai as private colleges face degree of reckoning

British retailer Harrods is pulling out of China, just five years after launching its luxury lifestyle brand in the market. Why is it leaving, and are other luxury brands going to follow? And university campus operator XJ International has been selling assets as college education loses its luster. Why are less Chinese interested in such secondary education these days?
1765.HK