Reported 7 months ago
Despite international geopolitical developments, Wan Hai (2615) completed a dividend payment of 1.5 yuan on June 13, leading to a nearly limit-up surge in the morning session and closing at 84.4 yuan, up by 3.56%. Experts believe that despite the 6-week ceasefire agreement in Israel, issues like container shortages, vessel shortages, and port congestion persist, leading to a full-load situation continuing until July and a further rise in freight rates entering the traditional peak season in Q3. Wan Hai recorded impressive revenues in May with a 40.14% annual increase. Analysts expect Q2 rate hikes to reflect in Q3 revenues, giving Wan Hai a 'buy' rating with a target price above 100 yuan. The shipping sector's main variable depends on the duration of the Israel conflict; an extension of the ceasefire may signal a turning point for shipping stocks. The SCFI index has risen for nine consecutive weeks, but investors are concerned about whether the new index on the 14th will continue the uptrend. Disclaimer: Options trading carries inherent risks, and the information provided is for reference only, not an invitation, solicitation, or any form of recommendation. For more exclusive reports by Commercial Times, stay updated on the launch of Longtan Factory in Q4 next year, the official opening of a purely online insurance company, and the start of license applications by the FSC in August next year.
Source: YAHOO