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T.S. Lines Limited (HK:2510)
:2510
Hong Kong Market
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T.S. Lines Limited (2510) AI Stock Analysis

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HK:2510

T.S. Lines Limited

(2510)

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Neutral 66 (OpenAI - 4o)
Rating:66Neutral
Price Target:
HK$9.00
▲(3.09% Upside)
The overall stock score of 66 reflects a strong valuation with a low P/E ratio and high dividend yield, making it attractive for value and income investors. Financial performance shows recovery and growth, but negative free cash flow and asset management issues need attention. Technical analysis indicates mixed signals with slight bearish momentum, requiring cautious monitoring.

T.S. Lines Limited (2510) vs. iShares MSCI Hong Kong ETF (EWH)

T.S. Lines Limited Business Overview & Revenue Model

Company DescriptionT.S. Lines Limited (2510) is a prominent shipping and logistics company based in Hong Kong, specializing in container shipping services across various trade routes in Asia and beyond. The company operates a fleet of container vessels and provides integrated logistics solutions, catering to the needs of businesses engaged in international trade. With a focus on operational efficiency and customer service, T.S. Lines Limited plays a crucial role in facilitating global supply chains through its shipping services.
How the Company Makes MoneyT.S. Lines Limited generates revenue primarily through the transportation of goods in containers across international shipping routes. The company's revenue model is based on freight charges, which are fees paid by customers for shipping their cargo. Key revenue streams include container shipping, logistics services, and port operations. Additionally, the company may engage in long-term contracts with major shipping partners and clients, which provide a stable income source. Factors contributing to its earnings include fluctuating shipping rates, operational efficiency in managing its fleet, and the ability to adapt to market demands and changes in global trade patterns.

T.S. Lines Limited Financial Statement Overview

Summary
T.S. Lines Limited shows positive signs of recovery and growth, particularly in revenue and profit margins. The company maintains a strong balance sheet with low leverage and high equity ratio, reflecting financial stability. However, the negative free cash flow and asset management suggest areas for improvement. The company should focus on enhancing its cash flow management and monitoring asset utilization to sustain its growth trajectory and financial health.
Income Statement
65
Positive
The company showed a strong revenue growth from 2023 to 2024, with a 53.29% increase, and turned its gross profit from a negative in 2023 to a positive in 2024. The gross profit margin for 2024 was 23.51%, indicating improved cost management. The net profit margin also improved significantly from 2.37% in 2023 to 27.29% in 2024. However, the EBIT margin shows a volatile history and was relatively stable at 25.73% for 2024. This indicates a recovery from previous financial challenges but still requires close monitoring of margins.
Balance Sheet
72
Positive
T.S. Lines Limited maintains a strong equity position with an equity ratio of 85.05% in 2024, indicating financial stability. The debt-to-equity ratio is low at 0.08, suggesting limited leverage and low financial risk. Return on Equity (ROE) for 2024 was robust at 18.53%, showing effective use of equity to generate profits. However, the overall decrease in total assets from 2022 to 2024 suggests potential asset management issues that need attention.
Cash Flow
58
Neutral
The free cash flow turned negative in 2024, indicating potential cash management challenges. Operating cash flow to net income ratio was healthy at 1.31 in 2024, showing strong cash generation relative to net income. However, free cash flow to net income ratio was negative, highlighting concerns about capital expenditures impacting cash flow. Overall, while cash flows from operations remain strong, the negative free cash flow indicates areas needing improvement in cash management.
BreakdownDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue1.34B874.60M2.44B1.84B6.29B
Gross Profit315.03M-33.79M1.09B931.47M1.47B
EBITDA545.61M225.60M1.33B1.21B1.73B
Net Income365.91M20.71M1.07B1.08B1.43B
Balance Sheet
Total Assets2.32B2.16B2.77B2.25B5.32B
Cash, Cash Equivalents and Short-Term Investments422.13M716.34M1.32B868.09M1.36B
Total Debt156.63M217.21M388.64M541.95M1.07B
Total Liabilities346.49M388.18M622.39M799.14M2.38B
Stockholders Equity1.97B1.77B2.15B1.45B2.95B
Cash Flow
Free Cash Flow-62.79M-267.51M1.14B691.45M802.02M
Operating Cash Flow480.66M129.00M1.37B1.17B1.51B
Investing Cash Flow-517.25M-169.99M-175.88M-471.28M-706.14M
Financing Cash Flow-256.93M-562.87M-744.77M-1.20M-107.34M

T.S. Lines Limited Technical Analysis

Technical Analysis Sentiment
Positive
Last Price8.73
Price Trends
50DMA
8.87
Negative
100DMA
8.83
Negative
200DMA
6.90
Positive
Market Momentum
MACD
0.01
Negative
RSI
50.58
Neutral
STOCH
59.60
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2510, the sentiment is Positive. The current price of 8.73 is above the 20-day moving average (MA) of 8.57, below the 50-day MA of 8.87, and above the 200-day MA of 6.90, indicating a neutral trend. The MACD of 0.01 indicates Negative momentum. The RSI at 50.58 is Neutral, neither overbought nor oversold. The STOCH value of 59.60 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:2510.

T.S. Lines Limited Peers Comparison

Overall Rating
UnderperformOutperform
Sector (55)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
$84.66B4.0321.38%11.87%28.91%150.66%
$245.65B3.9616.39%12.87%30.56%108.49%
$58.02B12.548.93%4.29%4.90%6.33%
$13.01B16.895.53%2.61%-4.94%22.86%
€74.30B7.1658.05%9.43%37.68%127.44%
HK$14.22B4.819.83%
$13.29B17.4210.03%0.93%7.13%-12.93%
* Services Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
HK:2510
T.S. Lines Limited
8.73
4.93
129.74%
HK:1919
COSCO SHIPPING Holdings Co
13.49
2.47
22.44%
HK:1138
COSCO SHIPPING Energy Transportation Co
11.00
4.28
63.67%
HK:0316
Orient Overseas (International)
134.50
34.06
33.91%
HK:2343
Pacific Basin Shipping
2.57
0.50
24.03%
HK:1308
SITC International Holdings Co., Ltd.
28.62
8.58
42.80%

T.S. Lines Limited Corporate Events

T.S. Lines Limited Reports Stable Revenue and Shipping Volumes for Nine Months Ending September 2025
Oct 27, 2025

T.S. Lines Limited has announced its unaudited operational updates for the nine months ending September 30, 2025, revealing stable revenue and shipping volumes compared to the same period in 2024. This stability in financial performance suggests a steady operational footing for the company, which may reassure shareholders and potential investors about the company’s consistent market presence.

The most recent analyst rating on (HK:2510) stock is a Hold with a HK$9.00 price target. To see the full list of analyst forecasts on T.S. Lines Limited stock, see the HK:2510 Stock Forecast page.

T.S. Lines Limited Announces Change in Nomination Committee
Aug 25, 2025

T.S. Lines Limited, a company incorporated in Hong Kong, has announced a change in the composition of its Nomination Committee. Mrs. Chen Chuang Chuang-Li, an executive director, has been appointed as a member of the committee, effective August 25, 2025. This change reflects the company’s ongoing efforts to strengthen its governance structure. The Nomination Committee now consists of five members, and the board has extended a warm welcome to Mrs. Chuang.

The most recent analyst rating on (HK:2510) stock is a Buy with a HK$11.00 price target. To see the full list of analyst forecasts on T.S. Lines Limited stock, see the HK:2510 Stock Forecast page.

T.S. Lines Limited Announces Board Composition and Roles
Aug 25, 2025

T.S. Lines Limited, a company incorporated in Hong Kong, has announced the composition of its board of directors and their respective roles. The board includes executive directors, independent non-executive directors, and members who serve on various board committees such as the Audit, Remuneration, and Nomination Committees. This announcement provides clarity on the leadership structure and governance of T.S. Lines Limited, which is crucial for stakeholders to understand the company’s management and decision-making processes.

The most recent analyst rating on (HK:2510) stock is a Buy with a HK$11.00 price target. To see the full list of analyst forecasts on T.S. Lines Limited stock, see the HK:2510 Stock Forecast page.

T.S. Lines Limited Reports Robust Financial Growth in H1 2025
Aug 25, 2025

T.S. Lines Limited reported significant financial growth for the first half of 2025, with revenue increasing by 18.7% to approximately US$641.4 million. The company’s gross profit surged by 170.1%, and profit attributable to equity shareholders rose by 222.0%, reflecting strong operational performance and market positioning.

The most recent analyst rating on (HK:2510) stock is a Buy with a HK$11.00 price target. To see the full list of analyst forecasts on T.S. Lines Limited stock, see the HK:2510 Stock Forecast page.

T.S. Lines Revises Annual Caps in Slot Charter Agreement with TEH Shipping
Aug 25, 2025

T.S. Lines Limited has announced an amendment to its Master TSTW Slot Charter Agreement with TEH Shipping, revising the annual caps for the years 2025 and 2026 due to increased slot fee rates. This amendment, while maintaining other terms and conditions, reflects the company’s strategic response to market changes and ensures compliance with Hong Kong’s Listing Rules, impacting its operational and financial planning.

The most recent analyst rating on (HK:2510) stock is a Buy with a HK$11.00 price target. To see the full list of analyst forecasts on T.S. Lines Limited stock, see the HK:2510 Stock Forecast page.

T.S. Lines Limited Forms Nomination Committee to Enhance Board Diversity
Aug 25, 2025

T.S. Lines Limited has established a Nomination Committee to identify and recommend candidates for its Board of Directors, ensuring a diverse and effective governance structure. The committee, comprising a majority of independent non-executive directors, will meet at least once a year to oversee board performance and develop nomination guidelines, thereby reinforcing the company’s commitment to diversity and regulatory standards.

The most recent analyst rating on (HK:2510) stock is a Buy with a HK$11.00 price target. To see the full list of analyst forecasts on T.S. Lines Limited stock, see the HK:2510 Stock Forecast page.

T.S. Lines Amends Shipbuilding Contracts for Two New Vessels
Aug 19, 2025

T.S. Lines Limited, a company incorporated in Hong Kong, has announced the amendment of its shipbuilding contracts for the construction of two new vessels. The amended contracts, signed on August 19, 2025, increase the total consideration to approximately US$125.56 million. These transactions are classified as discloseable under Hong Kong’s Listing Rules, requiring reporting and announcement due to the percentage ratios involved.

The most recent analyst rating on (HK:2510) stock is a Buy with a HK$10.50 price target. To see the full list of analyst forecasts on T.S. Lines Limited stock, see the HK:2510 Stock Forecast page.

T.S. Lines Expands Fleet with New Shipbuilding Contracts
Aug 7, 2025

T.S. Lines Limited has announced the signing of the 2025 Shipbuilding Contracts for the construction of four new vessels at a total cost of approximately US$245.12 million. These contracts, along with the 2024 Shipbuilding Contracts, are considered discloseable transactions under Hong Kong’s Listing Rules due to their aggregated financial impact, requiring the company to adhere to specific reporting and announcement requirements.

The most recent analyst rating on (HK:2510) stock is a Buy with a HK$6.10 price target. To see the full list of analyst forecasts on T.S. Lines Limited stock, see the HK:2510 Stock Forecast page.

T.S. Lines Limited Schedules Board Meeting to Review Interim Results
Aug 6, 2025

T.S. Lines Limited has announced that its board of directors will meet on August 25, 2025, to consider and approve the interim results for the first half of the year ending June 30, 2025. This meeting is significant for stakeholders as it will provide insights into the company’s financial performance and strategic direction for the remainder of the year.

The most recent analyst rating on (HK:2510) stock is a Buy with a HK$6.10 price target. To see the full list of analyst forecasts on T.S. Lines Limited stock, see the HK:2510 Stock Forecast page.

T.S. Lines Limited Revises Annual Caps for Slot Charter Agreement
Aug 1, 2025

T.S. Lines Limited has announced a revision of the annual caps for its Master TSHK Slot Charter Agreement with TEH Shipping, reflecting an anticipated increase in demand for slot chartering. This amendment, effective from August 1, 2025, to December 31, 2026, maintains all other terms and conditions unchanged, and the transactions remain subject to certain reporting and review requirements under the Listing Rules, exempt from circular and independent shareholders’ approval.

The most recent analyst rating on (HK:2510) stock is a Buy with a HK$6.10 price target. To see the full list of analyst forecasts on T.S. Lines Limited stock, see the HK:2510 Stock Forecast page.

T.S. Lines Limited Reports Significant Profit Surge in First Half of 2025
Aug 1, 2025

T.S. Lines Limited announced a significant increase in profit for the first half of 2025, with expected earnings between US$180 million and US$200 million, marking a 220% to 255% rise compared to the same period in 2024. This growth is attributed to higher average freight rates and increased charter hire revenue due to more vessels being chartered at higher rates, indicating a strong market alignment and operational expansion.

The most recent analyst rating on (HK:2510) stock is a Buy with a HK$6.10 price target. To see the full list of analyst forecasts on T.S. Lines Limited stock, see the HK:2510 Stock Forecast page.

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.Date of analysis: Oct 21, 2025