Shanghai Zhenhua Heavy Industries Co Ltd A

ZPMC released its 2026 interim report on August 26. During the reporting period, the company achieved operating revenue of 17.627 billion yuan, up 1.33% year on year. Net profit attributable to the parent company was 503 million yuan, up 45.94% year on year. Net profit after deducting non-recurring items was 487 million yuan, up 98.01% year on year. The company plans to pay a cash dividend of 0.025 yuan per share, totaling about 131 million yuan. Net operating cash flow was 1.579 billion yuan, down 54.66% from 3.484 billion yuan in the same period last year, mainly due to a decrease in cash received from sales of goods. New contracts signed and winning bid orders totaled about 3.994 billion US dollars, up 11.38% year on year. Of this, port machinery business accounted for 3.297 billion US dollars, offshore engineering business 453 million US dollars, and steel structure business 244 million US dollars, a sharp year-on-year increase of 171.57%. Financial expenses surged 211.18% year on year to 294 million yuan, affected by exchange losses, and gains from changes in fair value turned negative. The company said the performance growth was driven by an increase in project deliveries and improved gross margin, but attention should be paid to cash flow improvement and payment collection.