CICC has issued a research report stating that, due to expectations of delayed Red Sea route resumptions amid geopolitical tensions, it has raised its 2026 net profit forecast for Cosco Shipping Holdings by 14.8% to RMB 23.5 billion and introduced a 2027 net profit estimate of RMB 17.2 billion for the first time. While the industry is expected to face significant supply-demand pressures next year, the higher dividend yield of the Hong Kong-listed shares prompted an increase in the target price for the A-shares and H-shares by 8.6% and 13.8%, to RMB 17.7 and HK$16.5 respectively. The "Outperform Industry" rating was maintained. The company's fourth-quarter results for last year were in line with market expectations. Revenue reached RMB 219.504 billion, a decrease of 6.14% year-on-year, while net profit was RMB 30.868 billion, down 37.1% year-on-year, corresponding to basic earnings per share of RMB 1.99. For the fourth quarter alone, revenue was RMB 51.905 billion, falling 12.21% year-on-year, and net profit was RMB 3.799 billion, declining 65.39% year-on-year. Based on current profit assumptions, the projected dividend yields for 2026 for the A-shares and H-shares are 5% and 5.7% respectively.