China's leading shipping company China Ocean Shipping (Group) Company (COSCO, 601919) announced on late Wednesday that it achieved net profit of 188 million yuan in the first three quarters. During the same period of last year, the company incurred net losses of 654 million yuan.
According to a company filing, its revenue witnessed year-on-year decline of 7 percent to 44.108 billion yuan in Q1-Q3. By the end of Q3, China Securities Finance Corporation Limited (CSF) held 180.8816 million A-shares of the company, representing 1.77 percent of the total share capital, which was the third largest shareholder of COSCO.
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