MB-CMER@EC2612A

Goldman Sachs Upgrades CSG and COSCO Ports Ratings

J.P. Morgan Raises Target Price on China Merchants Port

CICC Releases Earnings Assessment and Target Price for China Merchants Port

UBS Adjusts CSG Port's Rating and Target Price

Huatai Securities Cuts Forecast for China Merchants Port and Maintains Buy Rating

CHINA MER PORT released FY2025 Q1 earnings on August 29, 2025 (BJT) with actual revenue of HKD 3.229 B and EPS of HKD 0.4268

CHINA MER PORT released FY2025 Q2 earnings on August 29 Pre-Market (BJT), actual revenue HKD 3.229 B, actual EPS HKD 0.4268

CHINA MER PORT released FY2025 Semi-Annual earnings on August 29 Pre-Market (BJT), actual revenue HKD 6.457 B (forecast HKD 6.464 B), actual EPS HKD 0.8537

CHINA MER PORT to Release FY2025 Semi-Annual Earnings on August 29, 2025 (BJT), Forecast Revenue HKD 6.464 B

Jiahuai Li Resigns as Independent Director of China Merchants Port

China Merchants Port Signs Structured Lease Agreement

China Merchants Port Reports 8.99% Revenue Growth in Q1 2025

Huatai Securities Predicts China Merchants Port's Revenue Growth of 3.1% and Profit Growth of 27% in 2024

CHINA MER PORT released FY2024 9 Months Earnings on March 31 (BJT), actual revenue 8.819 B HKD, actual EPS 1.405 HKD

China Merchants Port released FY2024 Q3 earnings on March 31 (BJT), actual revenue 3.024 B HKD, actual EPS 0.4129 HKD

CHINA MER PORT released FY2024 Q4 earnings during market hours on March 31 (BJT), with actual revenue of 3.024 B HKD and EPS of 0.4129 HKD

China Merchants Port released FY2024 annual earnings during market hours on March 31 (BJT), actual revenue 11.84 B HKD (forecast 12.07 B HKD), actual EPS 1.8863 HKD (forecast 1.7931 HKD)

China Merchants Port Annual Revenue of HKD 11.84 Billion and Net Profit of HKD 7.92 Billion

China Merchants Port Completes Issuance of First Phase of Medium-Term Notes for 2025, Totaling 2 Billion Yuan at 1.98% Interest

CHINA MER PORT to release FY2024 earnings on March 31, during market hours (BJT), with forecasted revenue of 12.07 B HKD and EPS of 1.7931 HKD

STARCOIN GROUP

AE LOGISTICS

GUANZE MEDICAL

WATER INDUSTRY

ZHONGSHI MINAN

IDT INT'L

HAIZHI TECH GP

MANY IDEA CLOUD

FIRST CAP GP

XL2CSOPCOIN-U

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China Merchants Port's January container throughput up 2.2% y/y

marketscreener

Fullgoal CSI Modern Logistics ETF

CHINA MER PORT

CMPort

China Merchants Port's January container throughput up 2.2% y/y

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Hutchison Port Holdings Trust's distribution per unit (DPU) for the second half of the year ending December 31, 2025, is HKD 0.065, a decrease of 9.7% year-on-year. The full-year DPU for the fiscal year 2025 has dropped to HKD 0.115, down from HKD 0.122 in the fiscal year 2024. The trust's revenue for the fiscal year 2025 increased by 2.6% year-on-year to HKD 11.9 billion, primarily due to a 7.1% growth in container throughput at the Yantian International Container Terminal in Shenzhen. However, the total container throughput at the Kwai Tsing Terminal in Hong Kong declined by 6.4%. The trust's net profit was HKD 748.3 million, an increase of 15.1% year-on-year

Zaobao

G & M HLDGS

OCEAN LINE PORT

Hutchison Port Holdings Trust's distribution per unit in the second half fell by 9.7% to HKD 0.065 | Lianhe Zaobao

UBS analyst Robin Xu has maintained a Buy rating for China Merchants Port Holdings Co (CMHHF), setting a price target of HK$17.40. The stock closed at HK$14.98. Xu, who focuses on the Industrials sector, has an impressive average return of 30.2% and a 92.31% success rate. The current analyst consensus for the company is a Moderate Buy, with an average price target of HK$17.00.

Tip Ranks

UBS Sticks to Their Buy Rating for China Merchants Port Holdings Co (CMHHF)

CHINA MER PORT announced the extension of the deadline for acquiring 70% of Brazilian Vast's equity to November 28, 2026, and adjusted the purchase price to USD 350 million, with a maximum of USD 596.4 million. The delayed delivery may reduce the contribution to the group's profit and increase uncertainty and execution risk

AASTOCKS

China Merchants Group extends the acquisition deadline for Brazil's Vast and lowers the purchase price

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According to the Zhitong Finance APP, China Merchants Port announced the performance of its major shareholder, CMPort, for the first three quarters of 2025, with operating revenue of 12.762 billion yuan, an increase of 4.89% year-on-year; net profit attributable to shareholders of the listed company was 3.807 billion yuan, a year-on-year increase of 1.89%; basic earnings per share were 1.53 yuan

Zhitong

CHINA MER PORT: In the first three quarters, CMPort's net profit attributable to shareholders was 3.807 billion, a year-on-year increase of 1.89%

CHINA MER PORT announced that it will provide a shareholder loan of USD 19.6 million to Terminal Link, with an interest rate of 8.25% per annum. The financing agreement is jointly owned by the company's wholly-owned subsidiary Direct Achieve and CMA CGM's wholly-owned subsidiary CMA Terminals. The board believes that this loan will support the business development of Terminal Link and KFTL, which is beneficial to the group

CHINA MER PORT will provide a shareholder loan of USD 19.6 million to Terminal Link

China Merchants Port announced that Tu Xiaoping has resigned as Executive Director due to retirement, effective from October 24, 2025, and will no longer serve as a member of the Environmental, Social and Governance Committee (ESG Committee). The Board has approved the changes in the composition of the ESG Committee, with the new committee members including Xu Song, Yan Gang, Lu Yongxin, and Wang Zhirong, with Feng Boming serving as the chairman

CHINA MER PORT: Tu Xiaoping resigns as executive director

CHINA MER PORT announced that it has completed the redemption of all outstanding USD 200 million secured subordinated notes and has applied to the Hong Kong Stock Exchange for the withdrawal of the listing of these notes, which is expected to take effect on October 20, 2025

CHINA MER PORT: Completed the redemption of all notes

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Goldman Sachs released a research report stating that it has raised the net profit forecast for China Merchants Port and COSCO SHIP PORT for 2025 to 2027 by 2% to 6%. It is optimistic about COSCO SHIP PORT due to its strong performance at European terminals and improved performance at QianKai Port, expecting a dividend yield of 5% in 2025, with the target price raised from HKD 5.3 to HKD 6, and a rating of "Buy." The target price for China Merchants Port has been raised from HKD 13.1 to HKD 14.2, with a rating of "Neutral." The bank stated that even in the context of increased U.S. tariffs and trade uncertainty, the mainland's port container throughput still grew by 7% year-on-year in the first half of the year. Looking ahead, the bank predicts year-on-year growth of 4.6%, 2.7%, and 2.5% for 2025, 2026, and 2027, respectively, indicating that growth in the second half of 2025 will slow to 2%. In terms of pricing, China Merchants Port aims to increase prices by 2% in the 2026 contract negotiations, while other operators expect no further price increases beyond inflation adjustments. Both China Merchants Port and COSCO SHIP PORT are optimistic about contract price growth for overseas terminals due to faster throughput growth and rising costs

COSCO SHIP PORT

Goldman Sachs: Expects mainland container throughput to increase by 4.6% for the whole year, raising target prices for CHINA MER PORT and COSCO SHIP PORT

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Antong Holdings announced that Sinotrans Container Transportation Co., Ltd. has signed a share transfer agreement with CHINA MER PORT Group and GuoXin Securities to transfer 39 million shares and 178 million unrestricted circulating shares, totaling 217 million shares, accounting for 5.14% of the company's total shares. This transfer does not involve a tender offer and will not change the actual controller of the company

Sinotrans

SINOTRANS

Antong Holdings: Sinotrans Container Transportation acquires shares of China Merchants Port and Guoxin Securities

JP Morgan released a research report stating that it has raised the target price for CHINA MER PORT by 5.9%, from HKD 17 to HKD 18, maintaining an "Overweight" rating. Morgan Stanley indicated that based on CHINA MER PORT's latest performance, management guidance, and recent operational trends, it has updated its model for the company and raised the target price. The company continues to offer a satisfactory investment value, with expected dividend yields of 5.5-6.2% for 2025-2027 and free cash flow yields of 11-12%. The company's strong free cash flow, rigorous dividend policy, and robust earnings highlight its defensive appeal, while a diversified portfolio and proactive cost management also provide further support

Morgan Stanley: Raises target price for CHINA MER PORT to HKD 18, maintains "Overweight" rating

CICC maintains a "outperform" rating for CHINA MER PORT and raises the target price to HKD 16.5, representing a 12.8% upside from the current stock price. It is expected that the net profit for 2026 will be HKD 7.7 billion, with the current stock price corresponding to a price-to-earnings ratio of 8.2 times for 2025. Although the performance in 1H25 was below expectations, mainly due to a decrease in investment income, the revenue and profit growth of the port's main business exceeded expectations, and operating cash flow maintained steady growth

CICC: Maintains CHINA MER PORT's Outperform Rating and Raises Target Price to HKD 16.5

The CICC research report pointed out that CHINA MER PORT's revenue in the first half of the year was HKD 6.457 billion, an annual increase of 11.4%, with a net profit attributable to the parent company of HKD 3.584 billion, and basic earnings per share of HKD 0.854, a year-on-year decrease of 19.5%. The company's overseas terminal business performed well, with Sri Lanka's HIPG terminal throughput increasing by 542.9%. CICC maintains the net profit forecast for 2025 unchanged and introduces the net profit forecast for 2026 at HKD 7.7 billion, raising the target price by 13.8% to HKD 16.5, maintaining the "outperform industry" rating

In "Major Banks," China International Capital Corporation raised the target price for CHINA MER PORT to 16.5 yuan, optimistic about the long-term growth of overseas terminals

UBS released a research report stating that CHINA MER PORT's mid-term recurring net profit fell by 5% year-on-year, lower than the bank's expectations, which they believe was dragged down by the decline in profit contributions from Shanghai International Port Group. However, it still reached about 51% of the full-year forecast. Management expects the full-year port throughput to show low single-digit growth, and overseas port throughput will continue to improve. In response to the latest performance, UBS maintains a "Buy" rating on CHINA MER PORT, slightly lowering the target price from HKD 17.5 to HKD 17.4, and reducing the recurring net profit forecast for this year by 1%

UBS: Slightly lowers the target price for CHINA MER PORT to HKD 17.4, maintains "Buy" rating

MB-CMER@EC2612A(21387.HK)

China Merchants Port's January container throughput up 2.2% y/y

Hutchison Port Holdings Trust's distribution per unit in the second half fell by 9.7% to HKD 0.065 | Lianhe Zaobao

UBS Sticks to Their Buy Rating for China Merchants Port Holdings Co (CMHHF)

China Merchants Group extends the acquisition deadline for Brazil's Vast and lowers the purchase price

CHINA MER PORT: In the first three quarters, CMPort's net profit attributable to shareholders was 3.807 billion, a year-on-year increase of 1.89%