Zhi Tong Cai Jing·2025-11-05 08:23Core Viewpoint - COSCO Shipping Holdings (中远海控) reported a 55% year-on-year decline in net profit for Q3 2025, amounting to 9.5 billion RMB, but the performance exceeded expectations due to resilient freight rates and increased cargo volume [1] Group 1: Financial Performance - The net profit for Q3 2025 decreased by 55% to 9.5 billion RMB [1] - The recent rebound in freight indices and the suspension of port fees between China and the U.S. are expected to support profitability in Q4 2025 [1] Group 2: Future Outlook - There remains a risk of oversupply in 2026, but the company's strong net cash position, which accounts for 63% of its market value, should allow it to navigate through downturns [1] - The rating has been upgraded to "Hold," with the target price increased from 12 HKD to 14.54 HKD [1]