Movement Alert|COSCO SHIP ENGY Intraday Rise 3.35% in Regular Trading, Major Institutions Reduce H-Share Holdings While Bullish Views Persist

Market Focus
14小時前

On October 8, COSCO SHIP ENGY rose 3.35% in regular trading, trading at HK$21.02 with turnover of HK$113 million.

News drivers show that Morgan Stanley and BlackRock simultaneously reduced their H-share long positions on October 1, with Morgan Stanley cutting its stake from 7.47% to 5.68% and BlackRock from 7.59% to 6.09%. Despite the institutional reductions, Morgan Stanley maintained an Overweight rating with a target price of HK$26.00, citing strong super-large crude carrier freight rate rebounds and sustained oil shipping bull market prospects. JPMorgan reiterated an Overweight rating with a HK$29 target price, suggesting investors buy on weakness as freight rate rebounds reflect strengthening cargo demand rather than temporary port congestion.

Company fundamentals show first-half revenue of RMB 15.079 billion, up 30.26% year-over-year, while adjusted net profit surged 140.58% to RMB 4.556 billion, indicating strong operating performance amid volatile global energy shipping markets.

COSCO SHIP ENGY is a China-based company principally engaged in the maritime transportation of bulk liquid dangerous goods including crude oil, refined oil, liquefied natural gas, liquefied petroleum gas and chemicals. It operates through oil transportation, LNG transportation, LPG transportation and chemical transportation business segments in both domestic and overseas markets.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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