COMEC (00317) saw an intraday increase exceeding 4%. As of the time of writing, the stock is up 3.95%, currently trading at HKD 16.30, with a turnover of HKD 343.055 million.
Data previously released by the Ministry of Industry and Information Technology on China's shipbuilding industry shows that from January to March 2026, China's ship completions reached 15.68 million deadweight tons, a year-on-year increase of 46.0%, with export vessels accounting for 96.1% of the total. New orders received amounted to 59.53 million deadweight tons, a year-on-year increase of 195.2%. As of the end of March, the order backlog stood at 322.30 million deadweight tons, a year-on-year increase of 43.6%.
CICC released a research report stating that the performance of the shipbuilding sector in 2025 and Q1 2026 was largely in line with or exceeded market expectations. Recent disclosures from the sector show 2025 results were generally in line with market expectations, while Q1 2026 results mostly exceeded expectations. This is primarily attributed to the gradual commencement of deliveries for high-value ship and main engine orders placed earlier, driving simultaneous growth in revenue and profits for related companies. The firm is optimistic about the recovery of orders in the shipbuilding sector in 2026 and the continued enhancement of the competitiveness of Chinese shipbuilders, maintaining an 'Outperform' rating on the shipbuilding industry.
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