Guoxin Securities released a research report on April 23 stating that it maintains the China Merchants South Oil (601975.SH) purchase rating. The main reasons for the rating include: 1) China Southern Oil released its 2024 quarterly report, with excellent performance; 2) business performance outperformed the industry; 3) non-recurring profit and loss mainly came from the disposal of ship assets; 4) the repurchase of shares has been cancelled, and shareholder returns are expected to increase; 5) they are optimistic about the improvement in supply and demand in 2024, and the freight center will rise year on year. (Mainichi Keizai Shimbun)