Cosco Shipping Development Co.,Ltd.’s Net Profit Dropped 67.6% in First Three Quarters of 2023

Cosco Shipping Development Co.,Ltd. (中远海运发展股份有限公司) (601866.SH) reported a net profit of 1.2 billion yuan in the first three quarters of 2023, down 67.6% year-on-year.

Meanwhile, the company posted 10.5 billion yuan in revenue, down 44.4% year-on-year.

At the end of the reporting period, it had 120.8 billion yuan in total assets and 91.8 billion yuan in total liabilities, with a liability-to-asset ratio of 76%.