HK Stock Market Move | SITC (01308) rises over 3%; first three quarters revenue up about 14.2% year-on-year; JPMorgan says the company still achieved strong freight rates in the off-season.

SITC (01308) rose over 3%, up 3.44% as of press time to HK$48.78, with turnover of HK$116 million. On the news front, SITC recently announced its third-quarter results and operating data. The group's revenue increased by approximately 14.2% from approximately US$2.459 billion for the nine months ended September 30, 2025 to approximately US$2.808 billion for the nine months ended September 30, 2026. For the nine months ended September 30, 2026, the group's container volume was 2.9121 million TEU, an increase of approximately 5.9% from 2.7498 million TEU in the same period of 2025. The group's average freight rate (excluding slot exchange fee income) for the nine months ended September 30, 2026 was US$825.9 per TEU, an increase of approximately 9.4% from US$754.9 per TEU in the same period of 2025. JP Morgan released a research report stating that after SITC announced its third-quarter operating update, it still recorded strong realized freight rates and resilient volumes even during the "off-season," and management is optimistic about the year-end outlook and expects the fourth quarter and the period before Lunar New Year to be very busy. The bank noted that management described third-quarter demand as "hotter than expected," with strong volumes and freight rates across major routes, especially Southeast Asia and Japan. Port congestion and weather disruptions continued to keep effective capacity tight, with August freight rates higher than July, breaking the usual seasonal pattern.