Want to see HK:1199 full AI Analyst Report?
Top Page
COSCO SHIPPING Ports
(1199)
Select Model
Select Model
Rating:71Outperform
Price Target:
HK$6.50
â–²(25.48% Upside)
Action:Upgraded
Date:08/28/26
The score is led by attractive valuation (low P/E and strong dividend yield) and supportive near-term technical momentum. Financial performance is generally healthy but held back by inconsistent free cash flow and only modest capital efficiency. The latest earnings call was constructive with strong H1 results and better financing metrics, tempered by moderated full-year guidance and sizable CapEx commitments.
Positive Factors
Strong Throughput and Earnings Growth
Strong first-half volume growth translated into double-digit revenue, EBITDA, and profit expansion, demonstrating operating leverage across the terminal portfolio. Continued cargo growth and network utilization can support a durable earnings base over the next several quarters.
Negative Factors
Moderating Full-Year Throughput Growth
The full-year outlook implies a meaningful slowdown from the strong first-half pace, indicating that volume momentum may normalize over the coming quarters. Slower throughput growth could constrain revenue expansion and reduce operating leverage across the terminal network.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Throughput and Earnings Growth
Strong first-half volume growth translated into double-digit revenue, EBITDA, and profit expansion, demonstrating operating leverage across the terminal portfolio. Continued cargo growth and network utilization can support a durable earnings base over the next several quarters.
Read all positive factors
COSCO SHIPPING Ports (1199) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$23.54B
Dividend Yield4.99%
Average Volume (3M)4.63M
Price to Earnings (P/E)7.9
Beta (1Y)0.72
Revenue Growth10.90%
EPS Growth-2.11%
CountryHK
Employees3,314
SectorIndustrials
Sector Strength72
IndustryMarine Shipping
Share Statistics
EPS (TTM)0.08
Shares Outstanding4,016,710,700
10 Day Avg. Volume7,664,036
30 Day Avg. Volume4,625,095
Financial Highlights & Ratios
PEG Ratio-2.09
Price to Book (P/B)0.43
Price to Sales (P/S)1.65
P/FCF Ratio6.67
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$6.16Price Target Upside18.92% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.09
Revenue Forecast (FY)HK$1.79B
COSCO SHIPPING Ports Business Overview & Revenue Model
Company Description
COSCO SHIPPING Ports Limited functions as an investment holding company, primarily engaged in the management and operation of port and terminal facilities across an extensive global footprint. Its geographical reach spans Mainland China, Southeast...
How the Company Makes Money
COSCO SHIPPING Ports primarily makes money through port and terminal-related service revenues and through earnings from its investments in other terminal operators.
1) Terminal operations revenue (core cash earnings)
- Container handling and stev...
COSCO SHIPPING Ports Earnings Call Summary
Earnings Call Date:Aug 28, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 22, 2026
Earnings Call Sentiment Positive
The call presented a predominantly positive first-half operational and financial performance: robust volume growth (7.9% YoY), double-digit revenue growth (12.3% YoY), and strong EBITDA and profit expansion (20%+ YoY). The company highlighted improvements in margins, digitalization (smart ports, EAM), successful strategic wins, healthier finance metrics (low leverage, lower borrowing costs) and upgraded ESG ratings. Headwinds include lower short-term overseas profitability from new terminals, geopolitical and trade uncertainty affecting M&A and investments, weather-related operational risks, and a moderated second-half outlook (roughly 3% full-year throughput growth guidance). Overall, the positives — strong core performance, margin expansion, balance sheet strength and strategic progress — materially outweigh the listed challenges.Positive Updates
Strong Volume Growth
Total throughput reached ~80.2 million TEUs in H1 2026, up 7.9% year-on-year; equity throughput rose to 24.5 million TEUs, up 7.0% year-on-year; China terminals throughput 59.0 million TEUs (+4.7%) and overseas throughput 21.1 million TEUs (+18.0%).
Negative Updates
Weak Short-Term Overseas Profitability
Overseas terminals reported profit of USD 22.1 million in H1 2026, materially lower than China-region profit (USD 212.1 million); management cited short-term profit impact from newly commissioned terminals.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Volume Growth
Total throughput reached ~80.2 million TEUs in H1 2026, up 7.9% year-on-year; equity throughput rose to 24.5 million TEUs, up 7.0% year-on-year; China terminals throughput 59.0 million TEUs (+4.7%) and overseas throughput 21.1 million TEUs (+18.0%).
Read all positive updates
Company Guidance
Management guidance emphasized moderate full‑year growth and financial prudence: after H1 throughput of ~80.2m TEUs (+7.9% YoY) and equity throughput 24.5m TEUs (+7%), the company expects full‑year throughput growth of about 3%; H1 revenue was USD 0.91bn (+12.3%), EBITDA USD 0.54bn (+20.6%), profit attributable USD 0.23bn (+20.5%) and gross profit up 9.3%, with total terminal profit of $234.2m (China $212.1m, overseas $22.1m). Liquidity and balance‑sheet targets include cash & deposits of $1.35bn, net debt‑to‑equity ~20.8% and a lowered average borrowing rate of 3.98%; H1 CapEx was $75.2m (PP&E $67m, investment $8m) while full‑year CapEx guidance is USD 756m (fixed assets ~$497m; equity investment ~ $160m). Dividend policy remains stable with a 40% payout ratio and H1 DPS of USD 0.0236 (+22.4%). Operational KPIs to watch: smart‑port handled 0.7m TEUs (+25%) with average cost per TEU down 10%, equipment downtime cut ~7.3% via EAM, and regional throughput forecasts (Drewry/management) include Asia ~4.8%, Europe ~4.1%, North America ~3.7%, Latin America ~3.5% and South Asia ~4.5%; management reiterated focus on emerging markets, disciplined M&A and continued cost and efficiency measures.COSCO SHIPPING Ports Financial Statement Overview
Summary
Income Statement
73
Positive
Balance Sheet
66
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.71B | 1.67B | 1.50B | 1.45B | 1.44B | 1.21B |
| Gross Profit | 417.48M | 416.14M | 416.82M | 420.86M | 429.68M | 325.14M |
| EBITDA | 295.92M | 515.74M | 432.79M | 846.23M | 830.52M | 832.51M |
| Net Income | 313.92M | 312.60M | 308.82M | 324.56M | 306.63M | 354.65M |
Balance Sheet | ||||||
| Total Assets | 12.84B | 12.78B | 12.02B | 11.93B | 11.31B | 12.03B |
| Cash, Cash Equivalents and Short-Term Investments | 1.25B | 1.34B | 1.01B | 1.17B | 1.07B | 1.23B |
| Total Debt | 4.06B | 4.15B | 3.97B | 4.13B | 3.81B | 4.18B |
| Total Liabilities | 5.18B | 5.24B | 4.98B | 5.09B | 4.69B | 5.09B |
| Stockholders Equity | 6.50B | 6.41B | 5.93B | 5.77B | 5.52B | 5.82B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 413.35M | -26.51M | 135.98M | 142.09M | 33.17M |
| Operating Cash Flow | 0.00 | 611.63M | 408.58M | 482.45M | 467.64M | 409.22M |
| Investing Cash Flow | 0.00 | -53.40M | -224.87M | -212.50M | -76.31M | -396.80M |
| Financing Cash Flow | 0.00 | -273.14M | -325.12M | -176.17M | -490.24M | -90.19M |
COSCO SHIPPING Ports Technical Analysis
Positive
5.18
Price Trends
5.02
Positive
4.98
Positive
5.26
Positive
Market Momentum
0.18
Negative
78.14
Negative
71.08
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1199, the sentiment is Positive. The current price of 5.18 is below the 20-day moving average (MA) of 5.22, above the 50-day MA of 5.02, and below the 200-day MA of 5.26, indicating a bullish trend. The MACD of 0.18 indicates Negative momentum. The RSI at 78.14 is Negative, neither overbought nor oversold. The STOCH value of 71.08 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:1199.
COSCO SHIPPING Ports Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | HK$68.14B | 11.89 | 11.20% | 5.15% | 6.42% | -0.97% | |
78 Outperform | HK$69.39B | 10.43 | 5.93% | 4.46% | 13.52% | -4.91% | |
78 Outperform | HK$3.90B | 4.93 | 5.30% | 6.87% | -20.53% | 27.52% | |
78 Outperform | HK$22.23B | 12.24 | 7.95% | 5.40% | 8.94% | 10.38% | |
71 Outperform | HK$23.54B | 7.90 | 5.62% | 4.99% | 10.90% | -2.11% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | HK$35.36B | 26.27 | 3.05% | 4.80% | 0.09% | -21.20% |
* Industrials Sector Average
HK:1199
COSCO SHIPPING Ports
5.73
0.45
8.47%
HK:0144
China Merchants Port Holdings Co
16.59
2.03
13.97%
HK:2880
Liaoning Port Company Limited Class H
0.67
-0.17
-19.95%
HK:3382
Tianjin Port Development Holdings
0.62
-0.05
-7.38%
HK:3369
Qinhuangdao Port Co., Ltd. Class H
2.41
0.06
2.56%
HK:6198
Qingdao Port International Co Ltd Class H
7.53
1.09
16.83%
COSCO SHIPPING Ports Corporate Events
COSCO SHIPPING Ports Declares First Interim Dividend With Scrip Option for 2026
Aug 28, 2026
COSCO SHIPPING Ports has declared a first interim ordinary dividend of HKD 0.185 per share for the financial year ending 31 December 2026, based on the reporting period to 30 June 2026. The default payment will be in cash, with shareholders given ...
COSCO SHIPPING Ports Lifts Throughput and Profit on Strong Interim Performance
Aug 28, 2026
COSCO SHIPPING Ports reported solid interim results for the six months to 30 June 2026, with total container throughput rising 7.9% year-on-year to 80.16 million TEU and equity throughput up 7.0% to 24.49 million TEU. Growth was driven mainly by a...
COSCO SHIPPING Ports Sets August Board Meeting to Approve Interim Results and Consider Dividend
Aug 14, 2026
COSCO SHIPPING Ports has scheduled a board meeting in Hong Kong on 28 August 2026 to approve its interim results for the six months ended 30 June 2026. The board will also consider the declaration of an interim dividend, a decision that could sign...
COSCO SHIPPING Ports Relocates Bermuda Registered Office, Keeps Hong Kong Share Registrar
Aug 3, 2026
COSCO SHIPPING Ports Limited has announced that, effective 3 August 2026, its registered office and principal registrar and transfer office in Bermuda, handled by Conyers Corporate Services (Bermuda) Limited, will relocate to Richmond House, 12 Pa...
COSCO SHIPPING Ports Brings COSCO Unit Into Abu Dhabi CFS Subsidiary Via Connected Deal
Jun 26, 2026
COSCO SHIPPING Ports has agreed to dilute its stake in a wholly owned Abu Dhabi container freight station subsidiary to 60% by issuing new shares to COSCO SHIPPING (Hong Kong) for US$14.1 million, leaving the unit as a controlled subsidiary. The m...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.