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It's against the weather! Earned 15.5 billion yuan in a single quarter, and the leading performance of 100 billion yuan container transport increased 52 times! Netizens exclaim the king of cycle
Securities trader China
As a leading A-share container transport stock, COSCO Marine Control (601919) The performance of the first quarter of this year will continue to improve, and is expected to achieve 15.45 billion yuan, an increase of about 52 times over the same period last year.
The reporter of Securities Times · e Company noticed that Beishang Capital gradually increased its shareholding in COSCO Marine Holdings last year, and the latest shareholding ratio also remained stable, almost four times that of the same period last year.
The scene of the fair market has a high bearing
COSCO Shipping is an important part of the core industry of COSCO Shipping Group, an indirect controlling shareholder, and a listing platform undertaking the supply chain of container shipping services. On the evening of April 6, the performance forecast was disclosed, and COSCO Marine Holdings predicted a profit of 15.45 billion yuan in the first quarter. Compared with the same period last year, the net profit was about 292 million yuan.
As for the company's performance, some netizens exclaimed: "COSCO Marine Holdings, the king of cycle!"
It is reported that the company continues to fully guarantee global transportation services through measures such as increasing transportation capacity, ensuring supply of containers, and providing services, achieving both volume and price increases, and achieving a substantial increase in overall performance compared with the same period last year.
From the perspective of market conditions, although analysts continue to worry about the decline in the prosperity of the freight forwarding industry this year, the market continues to improve from the perspective of data. The average value of China's export container freight composite index (CCFI) in the first quarter of this year was 1960.99 points, 113.33% higher than the same period of the previous year, and 53.8% higher than the fourth quarter of last year. In addition, the recently broken out Suez Canal giant container ship ran aground, and the industry insiders pointed out that it further increased the global shipping tension, which is expected to cause the shortage of cargo positions in the future.
Under the background of "lack of containers and containers" in the global consolidation industry, COSCO Shipping's container shipping business grew steadily last year. According to the annual report, COSCO Marine Holdings achieved a net profit of nearly 10 billion yuan last year, up nearly 47% year on year, far exceeding the growth rate of revenue in the same period. Among them, the revenue from container shipping business was about 166 billion yuan, up about 15% year on year.
On a quarterly basis, in the third quarter of last year, COSCO Marine Holdings began to double its net profit in the second quarter of last year, and in the fourth quarter of last year, its net profit reached nearly 6.1 billion yuan. The latest performance forecast shows that its profit in the first quarter of this year continues to double at a large scale.
For this performance, many securities companies believe that it exceeded expectations. citic securities The analysis pointed out that, considering the impact of the COVID-19 epidemic last year, OOCL International made provision for the long-term service agreement of the Long Beach Container Terminal. It is estimated that the core profit of the listed company should exceed 9.9 billion yuan. In addition, the company's financial indicators were comprehensively optimized, with a cash conversion rate of 1.5 times, and the quality of operation significantly improved.
In addition to the soaring performance of COSCO Shipping, the global container leader CIMC In 2020, the net profit also increased by 246.88% year on year. The industry believes that "the demand side has set a new record for containers, and with the Suez Canal accident, container prices will remain high in the first half of this year."
According to the latest forecast of the industry, the global container shipping volume will grow by more than 5% in 2021, and the demand for consolidation is expected to usher in a comprehensive recovery. The growth rate of the global container fleet capacity is about 3.4%, and the market supply and demand will maintain a tight balance.
Chinese ships Relevant people from the Economic Research Center of the Group also said that the regional container ship market has a promising prospect. Large and super large container ships still have batch orders. In addition, some medium-sized container ships are expected to be updated.
However, analysts believe that at present, the freight rate of the main routes is at a historical high level, and it is a matter of time for the high freight rate to return to normal. In the short term, the supply and demand of the main trade routes are still good, but the management expects that the space for freight increase is limited; In addition, supply chain congestion will increase the cost of goods transportation.
The third largest container fleet in the world
At present, COSCO Shipping Holdings mainly operates domestic and foreign marine container transport services and related businesses through its wholly-owned subsidiary COSCO Shipping Container Transport and its indirect holding subsidiary OOCL International, forming a "double brand". By the end of last year, COSCO Shipping had operated 278 international routes (including international feeder routes), and its own container fleet had a capacity of more than 3.07 million TEUs. Alphaliner data shows that the size of the company's container fleet ranks third in the world.
In the second half of last year, the company added 40 ships on global routes, which ensured the input of transportation capacity in the recovery period of the market, and took various measures to ensure the effective connection of flights. According to the statistical data of standard shift rate of Shanghai Airlines Exchange, the company's standard shift rate of receipt and shipment ranked first in 2020. Faced with the shortage of containers in the market, the company actively increased the number of overseas empty container allocation voyages to relieve the pressure of container sources.
In addition, the company has also developed end-to-end projects such as the China Europe Land Sea Express Line, China Europe Railway Express Train, and the new western land sea trade channel to link up the "Belt and Road" logistics channel. Last year, the container traffic volume of the China EU Land Sea Express Line increased by 45% year on year, and that of the new land sea channel in the west increased by 74% year on year. The China EU railway train business maintained steady development.
As for the 2021 plan, COSCO Shipping Holdings said that on the basis of the efficient operation of last year's DAY4 route products, this year Ocean Alliance launched DAY5 route products to further consolidate the advantages of east-west trunk lines, and continue to maintain the service advantages of wide coverage, short delivery time, reliable flight schedule, etc. At the same time, the company continues to increase the investment in transport capacity in emerging markets, third country markets and regional markets, and constantly consolidate the foundation for global development.
More comprehensive geographical coverage and more balanced airline network.
High position of capital in Beishang
From the perspective of market performance, COSCO Marine Holdings' stock price rose 1.32 times in total last year, and has continued to rise in shock since this year, with an increase of about 20% this year.
Wind shows that COSCO Marine Holdings attracted 32 fund allocations at the end of last quarter, of which Hua'an Shanghai Shenzhen Hong Kong opportunity position exceeded 200 million yuan; Beishang Capital has significantly increased its shareholding since the middle of May last year, and accelerated its shareholding since the third quarter of last year. By the end of last year, its share of free circulation capital exceeded 7%. The current shareholding ratio is nearly four times that of the same period last year.
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