瑞银：微降招商局港口目标价至17.4港元 维持“买入”评级

Core Viewpoint - UBS reports that China Merchants Port (00144) experienced a 5% year-on-year decline in recurring net profit for the first half, which was below expectations, primarily due to a drop in profit contributions from Shanghai International Port Group, although it still reached approximately 51% of the full-year forecast [1] Group 1 - The management anticipates a low single-digit growth in port throughput for the full year [1] - Overseas port throughput is expected to continue to improve [1] - UBS maintains a "Buy" rating for China Merchants Port, slightly lowering the target price from HKD 17.5 to HKD 17.4 [1] Group 2 - The recurring net profit forecast for the year has been adjusted downwards by 1% [1]