The Zhitong Finance App learned that Sinotrans (00598) rose nearly 4%. As of press release, it had risen 3.44% to HK$4.805, with a turnover of HK$34.3022 million.
According to the news, Sinotrans recently announced its third-quarter results. CICC Research reports that the company's revenue for the first three quarters was 71,987 billion yuan, -4.07% year on year; net profit to mother was 2,676 billion yuan, -0.12% year on year; of these, 3Q26 revenue was 25.535 billion yuan, +4.16% year over year; and net profit to mother was 951 million yuan, +29.9% year over year. CICC believes that the 3Q26 performance exceeded the bank's and market expectations. The high profit increase was mainly due to the strong profit growth of Sinotrans DHL and the continuous optimization of the company's own business structure. It is worth mentioning that since 2026, the company has actively reduced or withdrawn from inefficient businesses based on dynamic optimization of the market environment, and achieved a year-on-year restoration of gross margin for three consecutive quarters. 3q26 gross margin was +1.2ppt to 6.0% year over year.
CICC continued that looking ahead to the fourth quarter, the air and shipping sector is in a strong boom zone; DHL may continue to grow at a high rate. Air freight welcomed the traditional peak season in the fourth quarter, and trade support demand for high-tech products was high. The TAC Shanghai Air Freight Index was +20% year-on-year in the first three weeks of October. In terms of consolidation, since October, the SCFI European/US Index has averaged +91%/+268% year-on-year, respectively, and is still in a strong boom range. On the DHL side, in line with DHL's 2026 profit increase, it is expected that Sinotrans DHL may still contribute to high investment income growth in 4Q26.