[China Shipbuilding: Net profit in the third quarter increased by 68% year-on-year and dropped 31% month-on-month] On October 30, China State Shipbuilding (600150.SH) announced that it achieved operating income of 131.118 billion yuan in the first three quarters, a year-on-year increase of 22.08%; net profit attributable to shareholders of listed companies was 13.44 billion yuan, a year-on-year increase of 129.67%. In the third quarter, operating income was 39.589 billion yuan, a year-on-year increase of 13.88%; net profit attributable to shareholders of listed companies was 3.487 billion yuan, a year-on-year increase of 68.07%. The change in performance was mainly due to the company focusing on its main business, focusing on high-quality operation orders and production delivery, further optimizing the structure of orders in hand, and continuing to enhance overall profitability. It delivered 145 civilian ships, and both the number of ships delivered and gross profit increased year-on-year. Xiaocai Note: The company’s Q3 net profit was 3.487 billion, and Q2 net profit was 5.121 billion. Based on this calculation, Q3 net profit dropped 31% month-on-month.