On May 28, COSCO Shipping Holdings (01919.HK) fell 3.08% in regular trading, trading at HKD 14.04/share, with trading volume of HKD 277 million.

On the news front, management remarks at the annual general meeting weighed on sentiment. Vice President Qian Ming stated that global container capacity delivery in the current year totals approximately 1.6 million TEU with estimated scrapping of 250,000 TEU, placing market supply-demand at a balanced-to-slightly-loose level. Chief Accountant Pan Zhigang noted that the China Containerized Freight Index declined 16.32% year-over-year in Q1, reflecting market concerns over future supply-demand dynamics. The company also disclosed full-year revenue of RMB 219.5 billion for the prior fiscal year, down 6.14% year-over-year, with net profit of RMB 30.87 billion also declining.

The broader Marine sector was under pressure, with OOIL down 3.3%, TS Lines down 3.93%, SITC down 2.41%, Pacific Basin down 2.49%, and LC Logistics down 1.67%.

(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.)