On July 22, COSCO Shipping Energy (01138.HK) rose 3.11% in regular trading, trading at HKD 13.06/share, with turnover of HKD 48.63 million, extending its recent oversold recovery trend.
On the news front, the company's extraordinary general meeting on July 20 approved with overwhelming votes the guarantee resolution for the Qatar Energy Phase II single-vessel charter fulfillment and the appointment of Wang Mingfeng as executive director, sending a continued business expansion signal that has boosted market confidence. Meanwhile, market expectations for a month-over-month rebound in China's July crude oil imports are providing support for oil transportation demand.
The stock had accumulated significant losses since early July due to geopolitical uncertainties around the Strait of Hormuz and consecutive stake reductions by BlackRock, whose holdings fell to 8.51%. These headwinds are being gradually digested. On the fundamental side, the company forecast H1 attributable net profit growth of approximately 141% year-over-year to around RMB 4.5 billion, with multiple institutions maintaining buy ratings and anticipating earnings resilience 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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