Chinese shipbuilder CSSC Offshore and Marine Engineering (COMEC) has announced its financial results for the third quarter of 2025, revealing a significant surge in profitability.
Revenue for the quarter was CNY4.14 billion ($567 million), a 4.65 per cent increase compared to the same period last year.
The company's net profit attributable to shareholders saw a dramatic rise, climbing 218.53 per cent year-on-year to CNY128.7 million. Profit before tax for the quarter was CNY167.6 million, a 229.66 per cent increase.
Net profit excluding non-recurring items grew by 297.57 per cent to CNY114.1 million.
For the first nine months of 2025, the company's revenue increased by 12.83 per cent to CNY14.32 billion. Net profit attributable to shareholders for the nine-month period was CNY655.1 million, a 249.84 per cent increase compared to the same period in 2024.
COMEC attributed the significant profit growth to strengthened production process management, improved production efficiency, and reduced construction cycle times for its main ship types.
The company also stated that a deepening of cost engineering and refined management led to higher product gross profit. Furthermore, a substantial increase in investment income from its associated companies contributed to the strong results.
