According to Zhito Finance APP, COSCO SHIP ENGY (01138) rose nearly 3% in early trading, and as of the time of writing, it is up 2.34% at 6.12 Hong Kong dollars, with a transaction volume of 21.0831 million Hong Kong dollars.

In terms of news, recently, COSCO SHIP ENGY announced that the company will increase its capital to CLNG, in which it holds a 50% stake, according to project progress, with an investment amount not exceeding 0.11 billion US dollars, for CLNG's participation in Qatar Energy's LNG Transportation project involving two 0.271 million cubic meter QC-Max Ships, for a lease term of 25+5 years. The announcement states that CLNG's participation in the Qatar LNG transportation project is beneficial for seizing precious opportunities in international medium to long-term lease projects, locking in major clients to steadily increase the company's earnings through long contracts, breaking through development bottlenecks, and further optimizing the fleet structure and investment layout of the group's LNG Sector, enhancing resistance to cyclical fluctuations.

GTJA pointed out that the company announced plans to incrementally increase capital to CLNG (the company holds 50% and is in partnership with China Merchants Energy Shipping), with an investment amount not exceeding 0.11 billion US dollars, for CLNG's participation in the Qatar Energy LNG Transportation project involving two 0.271 million cubic meter LNG ships, while also signing a long-term lease contract for 25+5 years. The company's LNG Business has signed contracts that secure stable returns. The company is gradually increasing the scale of its LNG fleet, currently holding 48 ships, with 41 ships pending delivery. In 2023, the LNG Business contributed nearly 0.8 billion yuan in Net income, and this will continue to strengthen the company's profit foundation with the delivery of new ships in the future.