CSSC's 2019 revenue surged

On April 17, CSSC released its annual report for 2019, with operating revenue of 23.136 billion yuan, up 36.82% year on year. The net profit attributable to shareholders of the listed company was 405 million yuan, down 17.26% year on year; Net loss attributable to shareholders of the listed company after deduction of non-recurring gains and losses was 42,282,299 million yuan, compared with a net loss of 345 million yuan in the same period last year; Basic earnings per share 0.29 yuan.
 
In 2019, the company's annual revenue reached 23.136 billion yuan, 134.04% of the annual plan. Of which, the operating revenue of ship repair business is 15.613 billion yuan. Revenue of power equipment business was 3.959 billion yuan; The operating revenue of the applied industry (mechanical and electrical equipment) was 1.5 billion yuan. Offshore business revenue was 2.576 billion yuan.
 
The company has undertaken a total of 21 new ship orders / 2,754,725 DWT. Among them: Shanghai Waigaoqiao Shipbuilding undertakes 15 vessels / 2.476 million DWT; CSSC Chengxi Shipyard undertakes 6 vessels / 278.725 million DWT.
 
The company completed the annual delivery of 38 vessels / 6,489,800 DWT. Among them: Waigaoqiao completed 21 ships / 5.159 million DWT. CSSC completed delivery of 17 vessels / 1,338,800 DWT.
 
In the offshore business, Waigaoqiao Shipbuilding to undertakes a 340,000 DWT FPSO. The offshore engineering project has completed the continuous delivery of 3 platforms throughout the year and delivered a FPSO of 340,000 DWT.
 
Source: Sarah Yu, XINDE MARINE NEWS

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