According to the Zhitong Finance APP, Sitc (01308) is now up more than 4%, as of press time, up 3.5%, at HK$17.76, with a turnover of 27.6921 million Hong Kong dollars.

In terms of news, Sitc has announced its interim performance, with revenue of approximately 1.3 billion US dollars, an increase of approximately 3.8% year-on-year; gross profit increased by approximately 21.2% year-on-year to approximately 0.403 billion US dollars; profit attributable to shareholders of the company was approximately 0.351 billion US dollars, a year-on-year increase of 13.01%; basic earnings per share was 13.25 US cents, and the interim dividend was 72 Hong Kong cents per share, compared to 60 Hong Kong cents in the same period last year.

According to a research report released by Daiwa, the management of Sitc remains optimistic about the spot market in the Asia region in the fourth quarter, despite seasonal factors, as the adjustment in the long-haul market has not yet been reflected in the Asian market, mainly because of the shift in capacity to Europe and the Middle East. In addition, the management also mentioned that the decision to distribute a special dividend will be made at the board meeting in the third quarter, and if the decision is made, it will be announced together with the third quarter business data. The bank has raised Sitc's earnings per share forecast for 2021-2026 by 20%, 10%, and 12% respectively and increased the dividend payout ratio from 70% to 95%, considering the strong cash flow this year and the expected decrease in capital expenditure from 2022 to 2026, it is expected that special dividends will be distributed from 2021 to 2026.