COSCO SHIPPING Energy: Net profit in 2024 will increase by 19.37% year-on-year, and 10 distributions of 2.1 yuan are planned

On March 26, Jin10 reported that China COSCO Shipping Energy announced that the company achieved an operating revenue of 23.244 billion yuan in 2024, a year-on-year rise of 2.25%; net profit was 4.037 billion yuan, a year-on-year rise of 19.37%; basic earnings per share were 0.85 yuan. The company plans to distribute a cash dividend of 2.1 yuan (including tax) for every 10 shares. As of December 31, 2024, the group has participated in the investment and construction of 87 LNG vessels, including: 50 LNG vessels that are in operation, with a capacity of 8.42 million cubic meters, and 37 LNG vessels under construction, with a capacity of 6.63 million cubic meters; additionally, there is 1 chartered LNG vessel, with a capacity of 174,000 cubic meters, that has been put into operation. All operating vessels serve long-term leases, resulting in relatively stable earnings. In recent years, as the LNG vessels invested in and constructed by the group have gradually been put into operation, the group’s LNG transportation business has entered a harvest period.