Gelonghui, December 30, 丨 Da Mo Fa Research Report lowered COSCO SHIPPING Port (1199.HK)'s net profit forecast for 2022-2024 by 3%, 5%, and 6% to 340 million, 356 million and 393 million US dollars, maintaining the “market synchronization” rating. The target price was lowered 3.6% from HK$5.6 to HK$5.4. The report predicts that due to weak global shipping demand, the Group's profit will fall 4.3% year on year this year, and will resume growth of 5% and 10% in 2023 and 2024 respectively. However, under the strong US dollar, the stock's valuation is still under pressure. The current price is 5%-6% of the dividend rate for the next two years, and there is limited room for the valuation to rise. The stock is currently reported at HK$6.2, with a total market value of HK$21 billion.