GLONGHUI, August 30 | Morgan Stanley published a report saying that profits in the container shipping industry have not yet bottomed out. Dongfang Overseas's operating cash flow for the first half of the year fell 91% year-on-year, which is greater than the 80% decline in profit. I believe COSCO Marine Control's situation in the first half of the year was similar. It is expected that the profits of the two companies in the second half of the year will fall compared to the first half of the year, and next year will be worse compared to this year. According to the report, in July, China's new export order PMI was still below 50, reflecting a lack of support for container shipping demand. The three year profit forecast from this year to 2025 was lowered by 39% to 43%. As for COSCO Marine Control's forecast, it was lowered by 18% to 33%, Dongfang Overseas's target price was lowered by 7.1% to HK$77.2, and COSCO's target price was lowered by 3.6% to HK$5.4. The ratings were all “reduced holdings.”