Goldman Sachs, April 11 - Goldman Sachs published a report saying that China Merchants Port (0144.HK) recorded a net profit of 7.8 billion yuan last year; if the loss of financial assets of 342 million yuan and the fair value loss of other special projects were excluded, its core net profit was slightly lower than the bank's and market expectations of 8.1 billion yuan, which also meant that the core net profit for the second half of last year was 3.1 billion yuan, an increase of 5% on an annual basis. The company paid 0.6 yuan in the second half of last year, meaning that the annual payout rate reached 42%, but last year's total payout was lower than the bank's and market forecasts; As a result, this year's dividend rate will be no less than 40 %. The bank adjusted China Merchants Port's core earnings estimates for each year from 2023 to 2025, from a decrease of between 1% to an increase of 3%, and lowered its target price from HK$13.5 to HK$13.3, maintaining its rating as “buy”. China Merchants Port is now up 2% to HK$1,146, with a total market value of HK$45.8 billion.