The Zhitong Finance App learned that COSCO SHIPPING Port (01199) fell by more than 3%. As of press release, it had a decrease of 3.38% to HK$4.58, with a turnover of HK$9.881 million.

According to the news, Citi released a research report stating that COSCO SHIPPING's revenue and core profit forecasts for the 2024-2025 fiscal year will be reduced by an average of about 5% and 9%, respectively, to reflect the slowdown in the company's throughput growth. Yamato previously pointed out that the company's total throughput increased 11% year-on-year in the first two months, and the strong increase in throughput was due to factors that had a low base last year. The total throughput of COSCO SHIPPING ports is expected to achieve low unit annual growth in FY2024.

According to reports, in the first quarter of this year, a number of terminals belonging to COSCO SHIPPING Port came to a successful conclusion. Among them, the container throughput of Tonghai Terminal in Nantong and Beibu Gulf Terminal both increased by double digits year-on-year in the first 3 months. CSP Nantong Tonghai Terminal completed container throughput of more than 390,000 TEU, an increase of more than 52% over the previous year; CSP Beibu Gulf Terminal completed container throughput of more than 1.24 million TEU in the first quarter, an increase of more than 16% over the previous year.