On July 16, COSCO Shipping Energy declined 3.63% in regular trading, trading at HK$12.3/share, with turnover of HK$30.11 million.
On the news front, the latest Hong Kong Stock Exchange disclosure shows that BlackRock reduced its H-share stake in COSCO Shipping Energy from 9.16% to 8.51% on July 9, marking its third consecutive reduction in recent weeks. The sustained selling by the world's largest asset manager has weighed materially on market sentiment. Earlier filings revealed BlackRock had previously cut its stake from 9.38% to 8.79% on June 30, and further to 7.54% by July 6.
Additionally, the A-share record date for the company's annual dividend distribution falls on July 16, with some funds potentially exiting after securing dividend entitlements. The company plans to distribute a cash dividend of RMB 0.38 per share for fiscal year 2025. Despite first-half net profit surging approximately 141% year-over-year to around RMB 4.5 billion, driven by elevated international oil shipping rates, persistent institutional selling pressure continues to cap near-term share price performance.
(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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