COMEC (00317) rose over 4% in the morning session. As of the time of writing, the stock was up 4.59%, trading at HKD 14.59 with a turnover of HKD 42.7623 million. A research report from GF Securities stated that the shipbuilding market from 2021 to 2024 was primarily driven by container ships and LNG carriers, with the market expected to decline in 2025 due to the impact of the US Section 301 tariffs. The report suggests that starting in 2026, the ship demand market will enter a "Phase 2.0." The shipbuilding market in 2026 is anticipated to be comparable to the construction machinery sector in 2019, where a secondary acceleration in demand is expected to stimulate an uplift in the valuation benchmark. Shenwan Hongyuan previously pointed out that COMEC holds a substantial order book, with high-value orders progressively being delivered, thereby releasing profits. Furthermore, China State Shipbuilding Corporation (CSSC) announced in January 2025 a new commitment from the CSSC Group to resolve intra-group homogeneous competition, specifically targeting CSSC and Huangpu Wenchong Shipyard: to resolve the homogeneous competition between Huangpu Wenchong and the listed surviving company (CSSC) within five years. Huangpu Wenchong Shipyard is controlled by COMEC, and future progress on resolving this intra-group homogeneous competition warrants close attention.