---
title: "Zhejiang Merchants Securities: Maintains \"Buy\" rating on CSICPCL, expected to benefit first from the upward cycle of the shipping industry"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/256856726.md"
description: "Zheshang Securities maintains a \"Buy\" rating on CSICPCL, expecting a year-on-year growth of approximately 93.35% in net profit attributable to the parent company in the first half of 2025. This is mainly driven by growth in the shipbuilding industry, an expansion in diesel engine sales, and an increase in gross profit margins. In the first half of 2025, new contracts signed amounted to 33.919 billion yuan, a year-on-year increase of 25.42%. As of the end of June 2025, the total contracts held reached 62.794 billion yuan, a year-on-year increase of 8%. As a leading enterprise in marine engines, CSICPCL is expected to benefit first from the upward cycle of the shipbuilding industry"
datetime: "2025-09-11T06:45:32.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/256856726.md)
  - [en](https://longbridge.com/en/news/256856726.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/256856726.md)
generator: "portal-rs"
---

# Zhejiang Merchants Securities: Maintains "Buy" rating on CSICPCL, expected to benefit first from the upward cycle of the shipping industry

Zhejiang Merchants Securities research report pointed out that CSICPCL's net profit attributable to the parent company in the first half of 2025 is expected to grow by approximately 93.35% year-on-year, with a year-on-year growth of about 35.2% in the second quarter of 2025. The significant performance growth is mainly due to: 1) The shipbuilding industry continues to maintain growth momentum, with the company's diesel engine segment experiencing rapid sales growth, a substantial increase in contract settlements, price increases for major products such as marine low-speed engines, and improved gross margins; 2) The marine machinery segment expanded its sales scale this period, with increased order deliveries and contract settlements, leading to year-on-year growth in operating income and profits; 3) The company has deeply implemented "cost engineering," focusing on controlling three types of expenses, continuously enhancing product profitability, and achieving year-on-year profit growth. In terms of new orders, the company signed contracts worth 33.919 billion yuan in the first half of 2025, a year-on-year increase of 25.42%. Regarding the order backlog, as of the end of June 2025, the company held contracts worth 62.794 billion yuan, an increase of 8% compared to the same period last year. As a leading enterprise in marine engines, the company is expected to benefit first from the upward cycle of shipbuilding. Maintain a "Buy" rating

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**