COSCO SHIP PORT (01199) shares climbed nearly 3% in Thursday morning trading, last up 1.89% at HK$5.675 with turnover reaching HK$64.85 million.

On the news front, the company recently unveiled its 2026 interim results, with revenue jumping 12.3% year-on-year to US$905 million and gross profit rising 9.3% to US$240 million. Profit attributable to equity holders surged 28.5% to US$234 million.

CICC noted that COSCO SHIP PORT's first-half performance exceeded its forecasts, primarily driven by a US$54 million one-off reversal gain recognized in the second quarter. Given the current-year one-off gains and expectations for stronger-than-anticipated revenue per TEU growth in both 2026 and 2027, the brokerage raised its net profit projections for 2026 and 2027 by 21.69% and 5.2% to US$398 million and US$370 million, respectively.

China Merchants Securities highlighted in a research report that COSCO SHIP PORT handled total throughput of 80.16 million TEUs in the first half of 2026, up 7.9% year-on-year, while equity throughput reached 24.49 million TEUs, reflecting a 7.0% increase. Breaking down the revenue structure, controlled terminals generated US$910 million in operating revenue during the first six months, up 12.3% year-on-year. Within this, China-based controlled terminals contributed US$420 million, a 16.4% increase, while overseas controlled terminals brought in US$490 million, marking a 9.1% uptick—largely fueled by growth at Greece's PCT and CSP Spain terminals, with revenues at these facilities climbing 7.1% and 11.7% year-on-year, respectively, in the first half.