Movement Alert|COSCO SHIP ENGY Rises 3.15% in Regular Trading, Institutional Research Bullish on Q3 Upside Amid Oversold Recovery

Market Focus07-24 09:40

On July 24, COSCO SHIP ENGY rose 3.15% in regular trading, trading at 13.69 HKD/share, with turnover of 65.34 million HKD, extending its recent oversold rebound momentum.

On the news front, Guotai Haitong released a research note on July 23 highlighting that the company's Q2 attributable net profit reached approximately 2.3 billion yuan, doubling year-over-year and growing 7% quarter-over-quarter, with Q3 earnings expected to continue improving. Additionally, the company's extraordinary general meeting previously approved the Qatar Energy Phase II project guarantee resolution with an overwhelming majority, signaling business expansion that has bolstered market confidence.

While JPMorgan reduced its position by approximately 6.6 million shares on July 17 at around 11.9 HKD per share, bringing its long position ratio down to 5.73%, the stock's fundamentals remain supported by H1 attributable net profit growth of approximately 141%. Multiple brokerages maintain buy ratings, viewing geopolitical headwinds as largely priced in with significant earnings upside potential in the second half.

(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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