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The BOC Securities Research Report pointed out that COSCO Haineng's foreign trade oil boom increased significantly, and profits continued to strengthen in the third quarter. Net profit to mother for the first three quarters was 7.389 billion yuan, up 171.90% year on year; of these, net profit from mother for the third quarter was 2,844 billion yuan, up 235.04% year on year and 19.9% month on month. The continuous improvement of the foreign trade tanker transportation market is the core driver of the sharp increase in revenue and profit. Affected by the uncertainty of the US-Iran war, oil transportation prices remained high and the company's profit forecast was raised. The boom in foreign trade oil transportation, the steady contribution of the LNG business, and the optimization of fleet capacity are expected to support the company to maintain a high level of profit and maintain a “gain” rating.
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The BOC Securities Research Report pointed out that COSCO Haineng's foreign trade oil boom increased significantly, and profits continued to strengthen in the third quarter. Net profit to mother for the first three quarters was 7.389 billion yuan, up 171.90% year on year; of these, net profit from mother for the third quarter was 2,844 billion yuan, up 235.04% year on year and 19.9% month on month. The continuous improvement of the foreign trade tanker transportation market is the core driver of the sharp increase in revenue and profit. Affected by the uncertainty of the US-Iran war, oil transportation prices remained high and the company's profit forecast was raised. The boom in foreign trade oil transportation, the steady contribution of the LNG business, and the optimization of fleet capacity are expected to support the company to maintain a high level of profit and maintain a “gain” rating.
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