Hong Kong Stock Movement: COMEC (00317) Rises Over 4% as New Shipbuilding Prices Continue Upward Trend, Institutions Bullish on Q3 Shipbuilder Earnings Growth

Stock News10-13 13:54

According to Zhitong Finance APP, COMEC (00317) rose over 4%, up 4.24% as of press time to HK$14.75, with a turnover of HK$24.3397 million.

On the news front, in September this year, new shipbuilding prices continued to maintain an upward trend. As of the end of September, the Clarksons Newbuilding Price Index stood at 186.59 points, up 0.25 points from 186.34 points in August, and up 23% compared with 151.40 points in September 2021 five years ago.

Shenwan Hongyuan believes that shipbuilder earnings are expected to continue growing in 26Q3. Orders currently being recognized for revenue were mainly signed during the upward phase of ship prices, and coupled with large container ships, oil tankers, and other high-value-added vessel types entering the batch construction and delivery stage, shipbuilder revenue and profit margins are still expected to continue rising.

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