Shares of COMEC Surge Over 5% in Morning Trading Ahead of Quarterly Results Release

Stock News04-28 10:16

COMEC (00317) saw its shares rise more than 5% during early trading. At the time of writing, the stock was up 5.64%, trading at HK$16.3, with a turnover of HK$52.5856 million. The company is scheduled to release its first-quarter financial results on April 29. Earlier, COMEC issued a positive profit alert, forecasting a net profit attributable to shareholders of between RMB 360 million and RMB 430 million for the first quarter, representing a year-on-year increase of 95.16% to 133.11%. According to an analysis report, the stronger-than-expected profit growth was mainly driven by accelerated delivery schedules and profit realization at its controlled shipyard, Huangpu Wenchong, and its affiliated shipyard, Guangzhou Shipyard International. The report also highlighted that new shipbuilding prices have stabilized and are expected to enter a unilateral upward trend. With the oil shipping sector entering a super cycle early in 2026, industry momentum is accelerating and translating into increased shipbuilding demand. New orders are anticipated to be released at a faster pace, and rising prices for new oil tankers are likely to drive up the overall new ship price index, potentially leading to upward revisions in shipbuilders’ long-term earnings forecasts.

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