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Cosco Marine Port (01199) appoints Yang Zhijian as Executive Director and Chairman of the Board
Zhitong Financial App News, COSCO Shipping Port (01199) announced the appointment of Yang Zhijian as the company's executive director and chairman of the board, the company's designated authorized representative under rule 3.05 of the rules governing the listing of securities on the Stock Exchange of Hong Kong Limited, the agent for accepting process in Hong Kong on behalf of the company, the executive committee under the board of directors, and the chairman of the Investment and Strategic Planning Committee. And members of the nominating Committee, the Remuneration Committee and the Environment, Society and Governance Committee, effective from 10 May 2022.
Cosco shipping lease 5 billion yuan ABS project accepted by Shanghai Stock Exchange
According to the information platform of the Shanghai Stock Exchange's corporate bond project on May 7, the status of the Cosco Maritime Leasing Pilotage Phase 1-6 Automobile Asset support Special Program is updated to "accepted" and updated on May 6, 2022. The variety of the project is ABS, the proposed issuance amount is 5 billion yuan, the original owner is COSCO Marine Leasing Co., Ltd., and the plan manager is Shanghai Guotai Junan Securities Asset Management Co., Ltd.
Opinion | Market fluctuates sharply, optimistic about the low valuation and high growth leader of the port
Institutions believe that when the market is volatile, the port industry is often able to outperform the market due to the characteristics of steady growth. In the long run, after years of pressure on port rates, with the substantial improvement in the performance of upstream shipping companies, port rates are expected to gradually stabilize, promising to occupy the hinterland location advantages, undervalued, high dividends, high flexibility of individual stocks.
Big Bank rating | UBS: slightly raise the target price of Cosco Maritime Port (1199.HK) to HK $7.98 "buy"
UBS reported that the first-quarter net profit of Cosco seaborne port (1199.HK) increased by 3% year-on-year to US $75 million, equivalent to 18% of the forecast for the whole year. The bank takes a positive view on the increase in freight charges in the mainland and sees potential upside in freight charges. About 88% of the group's profits come from local ports, making it one of the main beneficiaries of higher freight rates in the mainland, with a slight increase in the target price from HK $7.95 to HK $7.98, with an attractive valuation and a "buy" rating. The bank pointed out that management is optimistic about the freight increase, as the average contract price increased by 7% to 8% in the first quarter, which will bring to the rest of the year
UBS: maintain COSCO seaport (01199) "buy" rating target price raised to HK $7.98
Zitong Financial APP learned that UBS issued a research report that maintained the "buy" rating of Cosco seaport (01199), with the target price rising slightly from HK $7.95 to HK $7.98, an attractive valuation. The company's first-quarter net profit rose 3 per cent year-on-year to $75 million, equivalent to 18 per cent of its full-year forecast, the report said. The bank takes a positive view on the increase in freight charges in the mainland and sees potential upside in freight charges. About 88 per cent of the group's profits come from local ports, making it one of the main beneficiaries of higher freight rates in the mainland. Management is optimistic about the freight increase, as the average contract price rose by 7% to 8% in the first quarter, which will be this year.
Cosco Shipping Port (01199) released first-quarter results profit attributable to equity holders of US $74.948 million, up 2.6% from the same period last year.
Zhitong Financial App News, Cosco Shipping Port (01199) released its first-quarter results. The company's revenue was $330 million, up 24.2 per cent from a year earlier, while profits attributable to equity holders were $74.948 million, up 2.6 per cent from a year earlier. According to the announcement, in the first quarter, the total throughput increased by 0.3% compared with the same period last year, and the equity throughput increased by 6.1% compared with the same period last year.
Cosco seaborne port (01199.HK): net profit rose 2.6% to $74.948 million in the first quarter
Cosco Marine Port (01199.HK) announced on April 29th that in the three months ended March 31, 2022, the total throughput rose 0.3% year on year to 30.2916 million TEUs, equity throughput rose 6.1% year on year to 9.8591 million TEUs, and the total throughput of holding terminal company rose 39.5% to 7.4874 million TEUs. The total throughput of non-controlling terminal companies fell 8.1 per cent year-on-year to 22.8042 million TEUs; profits attributable to equity holders rose 2.6 per cent to $74.948 million.
Cosco seaborne port: financial and business situation for the three months ended March 31, 2022
Cosco Seaport (01199): Feng Boming resigns as Executive Director and Chairman of the Board
Zhitong Financial App News, COSCO Shipping Port (01199) announced that Feng Boming resigned as executive director and chairman of the board of directors due to job changes. at the same time, he will no longer serve as the authorized representative of the company, the subpoena agent, the chairman of the Executive Committee, the Investment and Strategic Planning Committee, and a member of the nomination Committee, Remuneration Committee, Environment, Society and Governance Committee, effective April 28, 2022.
COSCO SHIPPING Ports (HKG:1199) Strong Profits May Be Masking Some Underlying Issues
The recent earnings posted by COSCO SHIPPING Ports Limited (HKG:1199) were solid, but the stock didn't move as much as we expected. However the statutory profit number doesn't tell the whole story,