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COSCO SHIPPING Development Co
(2866)
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Rating:51Neutral
Price Target:
HK$0.95
â–²(1.06% Upside)
Action:Reiterated
Date:09/09/26
The score is held back primarily by financial risk—high leverage and deeply negative free cash flow despite a revenue rebound and positive operating profitability. Technical indicators are moderately supportive in the short term, and valuation is neutral with a solid dividend yield but a mid-range P/E.
Positive Factors
Revenue Rebound
The 25.2% TTM revenue rebound shows that demand and business activity have recovered materially from the prior period. A larger revenue base can support the scale of the leasing portfolio and related financial services, although maintaining this improvement remains important.
Negative Factors
High Leverage
Debt-to-equity of approximately 3.23x leaves the company with limited balance-sheet flexibility and increases sensitivity to refinancing and interest-rate conditions. In a cyclical shipping-related industry, elevated leverage can amplify pressure on earnings and capital allocation when business conditions weaken.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Rebound
The 25.2% TTM revenue rebound shows that demand and business activity have recovered materially from the prior period. A larger revenue base can support the scale of the leasing portfolio and related financial services, although maintaining this improvement remains important.
Read all positive factors
COSCO SHIPPING Development Co (2866) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$31.33B
Dividend Yield4.29%
Average Volume (3M)10.67M
Price to Earnings (P/E)20.3
Beta (1Y)0.83
Revenue Growth-2.33%
EPS Growth-1.27%
CountryHK
Employees16,581
SectorIndustrials
Sector Strength72
IndustryMarine Shipping
Share Statistics
EPS (TTM)0.15
Shares Outstanding3,421,629,000
10 Day Avg. Volume9,227,051
30 Day Avg. Volume10,672,001
Financial Highlights & Ratios
PEG Ratio0.00
Price to Book (P/B)0.41
Price to Sales (P/S)0.50
P/FCF Ratio-2.83
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.21
Revenue Forecast (FY)HK$15.06B
COSCO SHIPPING Development Co Business Overview & Revenue Model
Company Description
COSCO SHIPPING Development Co., Ltd., together with its subsidiaries, research, develops, manufactures, and sells containers in the United States, Asia, Hong Kong, Mainland China, Europe, and internationally. It operates through Container Manufact...
How the Company Makes Money
The company primarily makes money by providing financial leasing and related financing services, earning (1) lease income from finance leases and operating leases (e.g., periodic rental/lease payments from customers for the use of vessels and othe...
COSCO SHIPPING Development Co Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
45
Neutral
Cash Flow
34
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 32.26B | 25.20B | 27.63B | 15.69B | 25.63B | 37.17B |
| Gross Profit | 5.23B | 4.83B | 4.82B | 4.83B | 7.27B | 10.85B |
| EBITDA | 6.12B | 8.70B | 8.59B | 7.81B | 9.62B | 11.75B |
| Net Income | 2.04B | 1.61B | 1.69B | 1.41B | 3.92B | 6.09B |
Balance Sheet | ||||||
| Total Assets | 139.37B | 131.59B | 126.37B | 125.93B | 128.15B | 132.62B |
| Cash, Cash Equivalents and Short-Term Investments | 18.40B | 10.28B | 8.74B | 13.69B | 16.20B | 19.09B |
| Total Debt | 100.75B | 66.46B | 72.12B | 76.54B | 93.18B | 91.29B |
| Total Liabilities | 107.59B | 100.36B | 95.76B | 96.65B | 99.25B | 99.93B |
| Stockholders Equity | 31.38B | 30.79B | 30.30B | 29.28B | 28.89B | 32.69B |
Cash Flow | ||||||
| Free Cash Flow | -4.72B | -4.45B | -3.21B | -433.22M | 110.19M | -19.75B |
| Operating Cash Flow | 5.79B | 5.19B | 6.70B | 5.31B | 11.21B | 14.58B |
| Investing Cash Flow | -6.14B | -5.41B | -3.11B | 962.73M | -300.66M | -15.21B |
| Financing Cash Flow | 7.93B | 1.72B | -8.29B | -8.93B | -14.49B | 5.90B |
COSCO SHIPPING Development Co Technical Analysis
Neutral
0.94
Price Trends
0.91
Positive
0.96
Negative
1.04
Negative
Market Momentum
<0.01
Negative
61.12
Neutral
80.30
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2866, the sentiment is Neutral. The current price of 0.94 is above the 20-day moving average (MA) of 0.92, above the 50-day MA of 0.91, and below the 200-day MA of 1.04, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 61.12 is Neutral, neither overbought nor oversold. The STOCH value of 80.30 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:2866.
COSCO SHIPPING Development Co Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | HK$121.91B | 12.24 | 47.80% | 7.10% | 5.19% | -3.90% | |
74 Outperform | HK$101.10B | 10.00 | 9.43% | 4.95% | -8.09% | -52.15% | |
71 Outperform | HK$21.57B | 21.16 | 7.42% | 4.85% | -6.24% | 39.60% | |
67 Neutral | HK$281.69B | 9.51 | 11.46% | 6.62% | -4.84% | -42.70% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
55 Neutral | HK$119.91B | 16.61 | 14.91% | 2.31% | 2.50% | -2.32% | |
51 Neutral | HK$31.33B | 20.31 | 5.29% | 4.29% | -2.33% | -1.27% |
* Industrials Sector Average
HK:2866
COSCO SHIPPING Development Co
0.97
-0.18
-15.87%
HK:1919
COSCO SHIPPING Holdings Co
16.89
4.07
31.71%
HK:1138
COSCO SHIPPING Energy Transportation Co
18.91
10.92
136.52%
HK:0316
Orient Overseas (International)
152.90
23.99
18.61%
HK:2343
Pacific Basin Shipping
4.43
2.14
93.28%
HK:1308
SITC International Holdings Co., Ltd.
45.10
16.43
57.28%
COSCO SHIPPING Development Co Corporate Events
COSCO SHIPPING Development Wins Shareholder Backing for Shipbuilding and Bond Plans
Aug 31, 2026
COSCO SHIPPING Development Co., Ltd., a PRC-based joint stock company listed in Hong Kong, operates in the shipping and maritime logistics sector with a focus on vessel investment and related shipbuilding contracts. The company’s sizable A s...
COSCO SHIPPING Development Posts Higher H1 Revenue and Earnings Despite Margin Pressure
Aug 28, 2026
COSCO SHIPPING Development Co., Ltd. reported unaudited interim revenue of RMB13.51 billion for the six months ended 30 June 2026, up 11.14% from a year earlier, with profit attributable to owners rising 3.20% to RMB1.00 billion. Basic earnings pe...
COSCO SHIPPING Development Announces 2026 Interim Dividend and Tax Arrangements
Aug 28, 2026
COSCO SHIPPING Development Co., Ltd. declared an interim ordinary cash dividend of RMB 0.022 per share for the six months ended 30 June 2026, relating to the financial year ending 31 December 2026. For H shares traded in Hong Kong, the dividend wi...
COSCO SHIPPING Development Sets August Board Meeting on Interim Results and Dividend
Aug 14, 2026
COSCO SHIPPING Development Co., Ltd. has scheduled a board meeting for 28 August 2026 in Shanghai to review and announce the unaudited interim results for the six months ended 30 June 2026. The board will also consider the payment of an interim di...
COSCO SHIPPING Development Calls EGM to Approve Shipbuilding Deals and New Bond Issuance
Aug 14, 2026
COSCO SHIPPING Development Co., Ltd. is a PRC-incorporated joint stock company listed in Hong Kong, operating within the broader shipping and maritime industry. The company focuses on development-related activities that support COSCO SHIPPING̵...
COSCO SHIPPING Development Sets EGM to Approve Shipbuilding Deals and Bond Issues
Aug 12, 2026
COSCO SHIPPING Development Co. will convene an extraordinary general meeting on 31 August 2026 to seek shareholder approval for a series of key initiatives, including 2026 heavy industry shipbuilding contracts, second China State shipbuilding cont...
COSCO SHIPPING Development Commits RMB7.9 Billion to 15 New Bulk Carriers and Long-Term Leases
Jul 29, 2026
COSCO SHIPPING Development has signed new shipbuilding contracts to acquire 15 additional 210,000 DWT bulk carriers, splitting ten vessels from China State Shipbuilding Group and five from Xiamen Xiangyu Group, at a combined price of about RMB7.92...
COSCO SHIPPING Development Plans Up to RMB6 Billion Corporate Bond Issue
Jul 29, 2026
COSCO SHIPPING Development Co., Ltd., a Hong Kong-listed joint stock company in China’s shipping and logistics ecosystem, relies on domestic capital markets to support maritime-related operations and growth. The company is aligning its finan...
COSCO SHIPPING Development Plans Larger Medium-Term Note Issuance for Vessel Leasing
Jul 29, 2026
COSCO SHIPPING Development Co., Ltd. has proposed revising its debt financing plan by significantly expanding the quota for medium-term notes to support vessel leasing projects and broader operational development. The company intends to increase t...
COSCO SHIPPING Development Orders 24 Vessels and Seals 20-Year Leasing Deal
Jun 30, 2026
COSCO SHIPPING Development Co., Ltd. has approved plans to expand its fleet by acquiring 24 new vessels through 2026 shipbuilding contracts with Dalian Heavy Industry and China State Shipbuilding Group. The order includes twenty 87,000 DWT multipu...
COSCO SHIPPING Development Wins Shareholder Backing for Dividend, Board and Governance Moves
Jun 30, 2026
COSCO SHIPPING Development Co., Ltd. announced that all resolutions proposed at its 2025 annual general meeting and corresponding class meetings held in Shanghai on 30 June 2026 were approved by poll. The company confirmed the voting structure, in...
COSCO SHIPPING Development Updates Final 2025 Dividend Terms for H Shareholders
Jun 30, 2026
COSCO SHIPPING Development Co., Ltd., a Hong Kong-listed arm of the COSCO SHIPPING group, serves investors in both mainland China and overseas markets through its H shares and Stock Connect links. Its role within China’s shipping and logisti...
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.