COSCO SHIP ENGY's stock price surged 5.10% during Monday's intraday trading session.

The significant upward movement follows the company's release of record-breaking first-quarter financial results. Quarterly revenue grew 26.9% year-over-year to RMB 7.303 billion, while net profit attributable to shareholders skyrocketed 207.09% to RMB 2.173 billion. A key driver was the performance of its foreign trade oil shipping business, where gross profit soared 317.6% year-over-year to RMB 2.24 billion, fueled by sharp increases in freight rates amid geopolitical events.

Adding to the positive sentiment, investment bank Goldman Sachs raised its earnings forecast for the company by 3% to 4% and increased its H-share target price from HKD 29 to HKD 30, maintaining a Buy rating. The bank noted that a VLCC (Very Large Crude Carrier) super-cycle, driven by tight vessel capacity, positions COSCO SHIPPING Energy as a primary beneficiary, providing continued upward momentum for the stock.