COSCO SHIPPING's net profit in 2021 will reach 89.2 billion!

On January 24, COSCO SHIPPING Holdings announced an announcement of expected annual performance increase in 2021. The announcement shows that the company expects to achieve a net profit attributable to shareholders of listed companies of approximately RMB 89.28 billion in 2021, an increase of approximately RMB 79.35 billion compared with the same period last year, a year-on-year increase of approximately 799.3%.

After deducting its non-recurring gains and losses, the company expects to achieve a net profit attributable to shareholders of the listed company of approximately RMB 89.14 billion in 2021, an increase of approximately RMB 79.55 billion compared with the same period last year, a year-on-year increase of approximately 829.2%.

Part of the announcement of COSCO SHIPPING Holdings' earnings forecast

The main reason for the expected increase in COSCO SHIPPING Holdings' performance is closely related to the overall environment in 2021. The announcement stated that in 2021, under the influence of multiple factors such as repeated epidemics, growing demand, and limited supply, the global logistics supply chain continued to be challenged and impacted by complex situations such as port congestion, container shortages, and inland transportation delays, and the supply and demand relationship of container transportation continued to be tense.

In this context, the company's container supply played an important role. During the reporting period, COSCO Shipping Holdings' container shipping business cargo volume (TEU) was initially estimated at approximately 26.912 million TEUs, an increase of approximately 567,500 TEUs compared with the same period last year, an increase of approximately 2.15%.

COSCO SHIPPING Holdings was listed on the Main Board of the Hong Kong Stock Exchange on June 30, 2005 and the Shanghai Stock Exchange in June 2007. It is understood that as of December 31, 2019, the company operated 274 international routes (including international feeder routes), 58 China coastal routes and 88 Pearl River Delta and Yangtze River feeder routes, and its fleet has called at 356 ports in about 105 countries and regions around the world.

Not only COSCO SHIPPING Holdings, but also the financial reports of many shipping companies have attracted everyone's attention in the context of rising freight rates. According to the data, in the first 11 months of 2021, Evergreen Marine's revenue totaled about 106.384 billion yuan, CMA CGM's Q3 revenue was 15.3 billion US dollars, and the shipping giant Maersk's Q3 revenue reached 16.612 billion US dollars .

Many people said that they could only envy.

COSCO SHIPPING Holdings

Net Profit

2021