Dahua Jixian: Upgrade China Merchants Port Holdings (01919.HK) to "Hold" rating with a target price increased to HK$14.54.

Zhitong Finance and Economics APP learned that Dahua Ji Xian released a research report stating that China COSCO Shipping Corporation (01919.HK) is expected to see a 55% decrease in net profit to 9.5 billion RMB in the third quarter of 2025. However, due to the resilience of freight rates and volume growth, its performance is better than expected. The recent rebound in freight rates and the temporary suspension of port fees between China and the United States should support profitability in the fourth quarter of 2025. Despite the risk of oversupply in 2026, the strong net cash position (representing 63% of market value) should allow China COSCO Shipping Corporation to flexibly respond to the downturn cycle. The rating has been upgraded to hold, with the target price raised from HK$ 12 to HK$ 14.54.