On September 16, COSCO SHIP HOLD rose 3.31% in regular trading, trading at HKD 16.82/share, with turnover of HKD 33.85 million.

The rally was driven by the company's announcement on September 15 that its board approved raising the A-share buyback price ceiling from RMB 15.40 to RMB 20.00 per share, representing a nearly 30% increase. The company cited its stock price persistently exceeding the previous ceiling as the reason for the adjustment, expressing confidence in long-term value and aiming to ensure the buyback plan reaches its minimum target.

As of August 31, COSCO SHIP HOLD had repurchased 37.16 million A-shares at a total cost of approximately RMB 546 million, with prices ranging from RMB 13.69 to RMB 15.40 per share. The overall buyback plan targets 50 million to 100 million shares with a budget of RMB 770 million to RMB 1.54 billion, leaving substantial room for further purchases. The adjusted ceiling does not exceed 150% of the 30-day average trading price prior to the original board resolution. Separately, the company reported H1 revenue of RMB 111.92 billion, up 2.59% year-over-year, with net profit of RMB 13.42 billion and a proposed interim dividend of RMB 0.43 per share.

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