On July 14, Ningbo Marine Co., Ltd. (Stock Code: 600798, Stock Abbreviation: Ningbo Marine) issued the “2025 Interim Performance Pre-Loss Announcement.”
The announcement stated that, based on preliminary calculations by the financial department, the company expects a net profit attributable to shareholders of the listed company for the first half of 2025 to range between RMB -34 million and -49 million. Additionally, the company anticipates a net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses for the first half of 2025 to range between RMB -35 million and -50 million.
Regarding the main reasons for the projected loss, Ningbo Marine explained that its core businesses consist of waterway cargo transportation and toll road operations. For waterway cargo transportation: due to the relatively weak performance of the dry bulk market in the first half of 2025, freight rates remained low, leading to lower profits in the company’s transportation business for the period. For toll road operations: the company continued to experience traffic diversion due to the opening of new surrounding road networks, compounded by the implementation of toll fee discounts for out-of-province trucks, resulting in reduced toll road revenue. The lower gross margins from these two core businesses, along with decreased income from non-operating gains and losses, contributed to the net loss attributable to shareholders of the listed company for the first half of 2025.
