COSCO provided earnings alert after market close on 4 July where COSCO expects
its EBIT and profit attributable to shareholders for 1H23 to be Rmb24.5bn and
Rmb16.6bn respectively. Since COSCO's EBIT and profit attributable to
shareholders for 1Q23 were Rmb10.7bn and Rmb7.1b respectively, this COSCO's
earning alert implies 2Q23 earnings to be higher QoQ.
The sequential growth in earnings as reported by COSCO is exceptional and could
not be used as read-through to the other liners earnings to be