COSCO HNA (01138) rose more than 5% in early trading. As of press release, it was up 3.67% to HK$10.18, with a turnover of HK$386.79,800.
The Zhitong Finance App learned that COSCO HNA (01138) rose more than 5% in early trading. As of press release, it had risen 3.67% to HK$10.18, with a turnover of HK$386.79,800.
According to the news, COSCO Haineng previously announced its results. In the first quarter, the company achieved operating income of 5.838 billion yuan, up 3.7% year on year; net profit to mother was 1,236 billion yuan, up 12.8% year on year. Of this, net profit without return to mother was 1,236 billion yuan, an increase of 39.8% over the previous year.
Guotai Junan pointed out that in 2024, the capacity utilization rate in the oil transportation market has reached a threshold, supply and demand will continue to improve, while the impact of production cuts and oil prices has weakened marginally, and the pace of trade has returned to normal. It suggests the high base effect of 24Q2. At the same time, shipowners are optimistic about the central freight rate expectations for the peak season in the second half of the year, and the profit center will continue to rise. The bank indicated that the company's dividend rate will increase to 50% in 2023. Considering the impact of 2023 and the upward trend in the industry over the next two years, it is expected that the company's shareholder returns will continue to improve in the future.