Major rating｜Morgan Stanley: SITC's preliminary performance last year exceeded expectations, with a Target Price of 24 Hong Kong dollars.

Morgan Stanley published a report indicating that SITC's preliminary performance exceeded expectations last year, with profitability and average selling prices in the second half of the year also surpassing expectations, suggesting that the annual dividend may be better than anticipated. The firm has assigned a "market perform" rating with a Target Price of 24 HKD. Morgan Stanley noted that SITC's profitability may remain stable in the first half of this year, however, recent discussions regarding a ceasefire in Gaza could trigger market expectations. Additionally, rerouting of Red Sea shipping routes could terminate, posing significant negative factors for the container shipping outlook; therefore, the firm holds a conservative view on the container shipping cycle outlook.

Gelonghui FinanceJan 20 22:15 ET

SITC International Expects 2024 Net to Increase Between 86.5% and 92.1%>1308.HK

Dow JonesJan 20 18:00 ET

SITC (01308.HK) profit warning: Expected annual profit is estimated to increase by approximately 86.5% to 92.1% year-on-year.

On January 20, Gelonghui reported that SITC (01308.HK) expects the profit attributable to shareholders for the year ending December 31, 2024, to be approximately 1000 million to 1030 million US dollars, an increase of about 86.5% to 92.1% compared to the year ending December 31, 2023. For the year ending December 31, 2024, the container throughput is expected to be approximately 3.56 million standard containers, an increase of about 10.6% from the previous year, while the average freight rate (excluding swap space fee income) is expected to be around 721.0 US dollars per standard container, an increase from the previous year.

Gelonghui FinanceJan 20 08:42 ET

Express News | SITC International - Expected Result Due to Increase in Group's Container Shipping Volume, Others

ReutersJan 20 08:35 ET

Express News | SITC International Sees Unaudited Profit Attributable for Year Between $1,000.0 Mln & US$1,030.0 Mln

ReutersJan 20 08:34 ET

SITC: POSITIVE PROFIT ALERT

HKEXJan 20 08:34 ET · Announcements