On August 28, CSSC released its semi-annual report for 2020, showing that the company's operating revenue was 23.216 billion yuan, down 0.66% year-on-year.
The net profit attributable to shareholders of the parent company was 134 million yuan, down 90.7% year on year.
During the reporting period, the net flow of the company's business activities was -7.389 billion yuan, a year-on-year decrease of 7.66 billion yuan. It was mainly affected by COVID-19 epidemic.
During the reporting period, the collection of ship products decreased significantly, with a year-on-year decrease of 4.914 billion yuan, while the ship construction schedule did not change significantly, and the purchase expenditure increased by 1.96 billion yuan.
At the end of the reporting period, the balance of state-owned exclusive capital reserve of the company was 8376.7 million yuan, which was mainly due to the state allocated funds received by the newly merged units in the scope of national defense and military construction projects during the reporting period, which were converted into state-owned exclusive capital reserve after receiving the state allocated funds.
Source: Sarah Yu, XINDE MARINE NEWS
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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