Gelonghui, April 28, 丨 UBS issued a report saying that COSCO SHIPPING Port (1199.HK)'s net profit for the first quarter fell 18% year-on-year to 63 million US dollars, which was lower than expected and is equivalent to 18% of the bank's previous forecast for the company's annual profit forecast. Total throughput during the period was basically the same as year over year to about 30.3 million TEUs, while equity throughput fell 2.5% year over year to 9.6 million TEUs. The bank lowered the target price of COSCO SHIPPING Port from HK$6.6 to HK$5.1. Due to poor quarterly performance expectations for the first quarter, it lowered its profit forecasts for 2023 to 2025 by 2%, 4%, and 4%, respectively, maintaining a “neutral” rating. The stock is currently reported at HK$515, with a total market value of HK$17.7 billion.