China COSCO huge loss in the first half net profit of more than 7.2 billion

Yesterday evening, the China Ocean (601 919) released semi-annual report, first half net profit of more than 7.2 billion yuan huge loss for investors stunned.

Daily News revealed that the first half of this year, China Ocean appears revenue and net profit both fell pattern. During the reporting period the company achieved operating income of about 30.9 billion yuan, down about 8.5%; the corresponding net loss of about 7.209 billion yuan, up sharply 465.19%. This is nearly three years, China COSCO surrender worst single reporting the results. The main reason for the poor performance of China COSCO container shipping market represents mainly dragged down by weakness in overall demand. Semi-annual report, China COSCO's main business is the most important container shipping and related business, the first half of this year, operating income of about 27.97 billion yuan, an increase of about 2.24%. However, the most important business gross margin was -7.78% for the year, down 13.11 percentage points. In other words, the most important company's main business has been operating at a loss. In fact, China COSCO huge loss of performance and also sold in bulk Group, Florens company confirmed the long-term equity investment 2.43 billion yuan net loss related to the disposal. Semi-annual report, China Ocean in the first half net profit after deduction of non about 4.82 billion yuan.

It is noteworthy that, due to the huge amount of mid-year report a loss, which the company expects China Ocean this year from January to September net profit may still be a loss. "Despite entering the traditional peak season in the third quarter after the market demand has been warmer, but is expected to improve efficiency enough to compensate for losses during the reporting period, the accumulated profit forecast the beginning of the next reporting period's loss." In China COSCO newspaper said.