China Shipbuilding Industry Group Power Expects Up to 80% Growth in 2024 Profit; Shares Rise 4%

MT Newswires Live

2025/01/20

China Shipbuilding Industry Group Power (SHA:600482) expects to record 2024 net profit attributable to shareholders of between 1.17 billion yuan and 1.4 billion yuan.

This marks an up to 80% rise from the attributable net profit of 779.5 million yuan in 2023, according to a Jan. 18 filing with the Shanghai bourse.

The power equipment manufacturer cited the shipbuilding industry's growth momentum and rapid growth in the sales scaler of its diesel engine subsidiary for the forecasted profit growth.

Shares of the company rose 4% in recent trade.

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