Shanghai-listed marine equipment manufacturer Asian Star Anchor Chain’s profit for the first half of 2015 declined 12.17% year on year (y/y) to CNY50.5 million (USD7.87 million).
The company’s revenue for the January-June 2015 period was CNY808.6 million, up 3.82% y/y.
Asian Star Anchor Chain produced 67,767 tonnes of marine anchor chains in the same period, 11,267 tonnes more than a year earlier, and 19,881 tonnes of mooring chains, down 13.3% y/y.
As of the end of June, the company’s orderbook stood at CNY1.2 billion, with orders for anchor chains totalling CNY946 million and offshore mooring chains at CNY273 million.
Asian Star Anchor Chain, in its filing to the Shanghai Stock Exchange, stated that the offshore equipment market has been depressed in the first half of 2015 because of recession in global shipping business and falling oil prices.
The company targets to record CNY1.65 billion in revenue for full-year 2015.