COMEC (00317) Rises Over 5% Against Market Trend as Shipbuilding Sector Gains Momentum; Institutions Bullish on Defense Industry Focus

Stock News11-21

COMEC (00317) surged during the session, gaining over 5%. At the time of writing, the stock was up 5.14% to HKD 15.55, with a turnover of HKD 198 million.

Industry data shows mixed signals for the global shipbuilding sector. According to Clarksons Research, new ship orders in October totaled 2.91 million compensated gross tons (CGT), down 38% year-over-year from 4.71 million CGT. However, Chinese shipbuilders secured 98 new orders totaling 2.13 million CGT, capturing 73% of global market share and ranking first worldwide.

Analysts highlight growing interest in the defense sector amid geopolitical uncertainties. Shenwan Hongyuan notes that shipbuilding stocks remain undervalued, with COMEC's order backlog at approximately $7 billion and a market-cap-to-order ratio of 0.36x, historically low levels.

As a major subsidiary of China State Shipbuilding Corporation and a core national defense manufacturer, COMEC maintains strong order visibility. Analysts expect stable profit realization as high-value vessel deliveries progress.

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