China's leading shipbuilder CSSC net profit down 38.4% in 1H
China CSSC (China State Shipbuilding Corp.) Holdings Ltd., the country's leading shipbuilder, announced on August 08 it had made a net profit of 1.2 billion yuan (175.6 million U.S. dollars) in the first half of the year, down 38.42 percent year on year.
Net assets profitability ratio was 9.53 percent in six months, declining by 10.25 percentage points year on year, due to waning demands and rising material prices, said the company in its half-year report to the Shanghai Stock Exchange.
The Shanghai-listed firm's shares had plummeted 6.76 percent to 92.96 yuan a share on August 07 before the release of the report.
