CICC released a research report stating that it gave Pacific Shipping (02343.HK) a “outperforming industry” rating. Considering that the dry bulk transportation market cycle is expected to improve, profit in 2025 was raised 38% to US$350 million, keeping profit unchanged in 2024, and the target price was raised by 10.5% to HK$3.15. The bank assumes that in 2024 the company will pay dividends at the promised minimum dividend rate of 50%, corresponding to a dividend rate of 7.9%. If the dividend rate in 2024 remains at the level of 75% last year, corresponding to a dividend rate of 12.2%, the company's dividend is attractive.