The Huayuan Securities Research Report pointed out that China Merchants Shipping's oil distribution performance resonates well, and attention is being paid to subsequent oil transportation performance. The company achieved revenue of 32.422 billion yuan in the first three quarters of 2026, of which Q3 achieved revenue of 12.771 billion yuan, +89.89%; in the first three quarters of 2026, net profit of 11.983 billion yuan, +263.15% year-on-year, of which Q3 achieved net profit of 5,024 billion yuan, or +327.45% year-on-year. Oil bulk prices resonated upward, and shipping extensions were implemented collaboratively. Driven by the increase in tons of nautical miles brought about by long-haul pallet demand for food, coal, and ore and geographical conflicts, the company's various ship types have made concerted efforts, and the operating results have been remarkable. The boom in the oil transportation era continued, and the new cycle of distributed transportation relayed growth. In view of the company's leading position in oil distribution and optimistic prospects in the oil distribution market, it maintained a “buy” rating.

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