CSSC Offshore and Marine Engineering (COMEC) reported a 56.12 per cent increase in operating income for the first quarter of 2026. The group recorded revenue of CNY5.69 billion ($784.55 million) for the three months ending March 31.
Total profit reached CNY472.73 million, representing a 111.38 per cent rise compared to the same period in 2025. This growth was attributed to the company deepening lean production management and reducing construction cycles for main vessel types.
Net profit attributable to shareholders grew 114.76 per cent to CNY396.16 million during the quarter. This performance was significantly bolstered by a period-on-period increase in investment income from associates.
Net cash flows from operating activities surged 262.09 per cent to CNY1.30 billion. Milestone payments received for shipbuilding projects were the primary drivers for the cash flow increase.
Finance costs reached CNY3.47 million following exchange rate fluctuations that resulted in a net foreign exchange loss. A net foreign exchange gain had been recorded during the corresponding months of the previous year.
Total assets for the group stood at CNY55.68 billion at the end of the reporting period. Basic earnings per share were CNY0.28, which is a 114.79 per cent rise from the 2025 figure.
