[CSSC Defense: Net profit is expected to increase by 67.91%-90.80% year-on-year in the first three quarters of 2026] On October 14, China Shipbuilding Defense (600685.SH) announced that the net profit attributable to the owners of the parent company in the first three quarters of 2026 is expected to be 1.100 billion-1.250 billion yuan, a year-on-year increase of 67.91%-90.80%. The change in performance is mainly due to the fact that the shipping industry has maintained a high prosperity. The company's order structure has continued to be optimized, and the production tasks on hand have been sufficient and full. It has further promoted lean production management, improved overall production and operation efficiency, and promoted a year-on-year increase in product gross profit. The operating performance of associates has improved, the level of dividends of joint-stock companies has increased, and investment income has been confirmed to increase significantly year-on-year. Xiaocai Note: The company’s Q3 net profit is expected to be 263 million to 413 million, and Q2 net profit is 440 million. Based on this calculation, Q3 net profit is expected to decrease by 6% to 40% month-on-month.