BEIJING: China CSSC Holding Ltd, a leading ship builder, posted rising profitability last year despite a lackluster shipbuilding industry, the company said here the other day.
The net profit of the company increased nearly 40 percent year on year to 61.85 million yuan ($9.56 million) in 2015, according to a financial report filed with the Shanghai Stock Exchange. The growth rate was around 12 percent in 2014.
Its revenue stood at 27.76 billion yuan last year, down almost 2 percent from a year ago.
In face of fierce competition and sluggish demand, the company diversified its business, increased R&D investment and strengthened cooperation with global peers, the document said.
