china state shipbuilding posts 80.61％ rise in h1 net

china state shipbuilding co. ltd (cssc), the shanghai﹣listed unit of the ｃountry＇s biggest ship builder china state shipbuilding corp, said its net profit for the first half of this year amounted to rmb 1.949 billion, representing a remarkable increment of 80.61％ year﹣on﹣year. according to the company＇s interim financial report, revenue ｆrom its core business during the first six months surged 39.68％ ｆrom a year earlier to rmb 10.749 billion, of which, shipbuilding, ship repairing

ａnd core facility businesses acｃounted for 74.63％, 9.8％ ａnd 14.72％, respectively.
however, the company＇s gross profit margin stood at 22.77％, down 3.87％ over the corresponding period of last year, which was resulted ｆrom a sharp decrease of 7.02％ in gross profit margin ｆrom shipbuilding business.
the shanghai﹣headquartered ship maker attributed the lower﹣than﹣expected decline in gross profit margin mainly to three reasons: the soaring raw material prices, appreciation of rmb ａnd the ailing return ｆrom unit shanghai jiangnan changxing shipbuilding co. ltd, which failed to reach the stａndard in production capacity.
according to a company＇s filing with the shanghai stock exchange, it planned to raise up to rmb 7.4 billion (us$1.08 billion) by issuing convertible bonds ａnd warrants to fund the investment for eight major shipbuilding projects. however, the statement did not disclose <／p>