The Zhitong Finance App learned that Damo released a research report saying that the target price of Oriental Overseas Development (00316) was lowered by 7.1% to HK$77.2, while the target price of COSCO Marine Control (01919) fell 3.6% to HK$5.4. All ratings were “reduced.” Dongfang Overseas's profit forecast for 2023-25 was lowered by 39% to 43%, and COSCO Marine Control's forecast was lowered by 18% to 33%.

According to the report, profits in the container shipping industry have not yet bottomed out. Dongfang Overseas Development's operating cash flow in the first half of the year fell 91% year on year, which is greater than the 80% drop in profit. It is believed that 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. Furthermore, China's new export order PMI remained below 50 in July, reflecting a lack of support for container shipping demand.