Upcoming Dividend • Apr 17
Upcoming dividend of HK$1.00 per share Eligible shareholders must have bought the stock before 24 April 2026. Payment date: 15 May 2026. Payout ratio is a comfortable 65% and the cash payout ratio is 83%. Trailing yield: 8.7%. Within top quartile of Hong Kong dividend payers (6.8%). Higher than average of industry peers (7.5%). Recent Insider Transactions • Mar 19
Key Executive recently sold HK$24m worth of stock On the 16th of March, Kecheng Liu sold around 741k shares on-market at roughly HK$32.73 per share. This transaction amounted to 1.7% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth HK$40m. Kecheng has been a net seller over the last 12 months, reducing personal holdings by HK$56m. Recent Insider Transactions Derivative • Mar 18
Executive Chairman of the Board exercised options and sold HK$59m worth of stock On the 12th of March, Xianxiang Yang exercised options to acquire 2m shares at no cost and sold these for an average price of HK$33.00 per share. This trade did not impact their existing holding. Since June 2025, Xianxiang has owned 243.53m shares directly. Company insiders have collectively sold HK$249m more than they bought, via options and on-market transactions in the last 12 months. Declared Dividend • Mar 12
Dividend of HK$1.00 announced Shareholders will receive a dividend of HK$1.00. Ex-date: 24th April 2026 Payment date: 15th May 2026 Dividend yield will be 8.7%, which is lower than the industry average of 21%. Sustainability & Growth Dividend is covered by both earnings (65% earnings payout ratio) and cash flows (83% cash payout ratio). The dividend has increased by an average of 30% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 26% over the next 3 years. However, it would need to fall by 28% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Mar 11
Full year 2025 earnings: EPS in line with analyst expectations despite revenue beat Full year 2025 results: EPS: US$0.46 (up from US$0.39 in FY 2024). Revenue: US$3.41b (up 12% from FY 2024). Net income: US$1.22b (up 19% from FY 2024). Profit margin: 36% (up from 34% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to stay flat during the next 3 years compared to a 2.9% decline forecast for the Shipping industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 27% per year, which means it is well ahead of earnings. Announcement • Mar 10
SITC International Holdings Company Limited, Annual General Meeting, Apr 20, 2026 SITC International Holdings Company Limited, Annual General Meeting, Apr 20, 2026. Announcement • Feb 26
SITC International Holdings Company Limited to Report Fiscal Year 2025 Results on Mar 10, 2026 SITC International Holdings Company Limited announced that they will report fiscal year 2025 results on Mar 10, 2026 Announcement • Jan 27
SITC International Holdings Company Limited Provides Unaudited Earnings Guidance for Year Ended December 31, 2025 SITC International Holdings Company Limited provided unaudited Earnings Guidance for Year Ended December 31, 2025. For the period, the unaudited profit attributable to the Company's shareholders for the year ended 31 December 2025 is expected to be between approximately USD 1,200 million and USD 1,230 million, representing an increase of between approximately 16.0% and 18.9%, as compared with that for the year ended 31 December 2024. For the year ended 31 December 2025, container shipping volume was approximately 3.85 million TEUs, an increase of approximately 7.8% from that of the previous year, and the average freight rate (excluding slot exchange rate) was approximately USD 753.0/TEU, an increase of approximately 4.4% from the previous year. The Company believes that the reasons for the increase were mainly attributable to the increase in the Group's container shipping volume driven by the stable expansion of the Asian market, and the increase in freight rates due to the Group's positioning as a quality service provider. Recent Insider Transactions • Jan 13
Executive Director recently sold HK$40m worth of stock On the 7th of January, Zhi Yong Lai sold around 2m shares on-market at roughly HK$26.28 per share. This transaction amounted to 44% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of HK$190m more than they bought in the last 12 months. Upcoming Dividend • Dec 29
Upcoming dividend of HK$0.70 per share Eligible shareholders must have bought the stock before 05 January 2026. Payment date: 15 January 2026. Payout ratio is a comfortable 71% and the cash payout ratio is 93%. Trailing yield: 12%. Within top quartile of Hong Kong dividend payers (6.8%). In line with average of industry peers (12%). Announcement • Dec 20
Sitc International Holdings Company Limited Announces Special Dividend, Payable on January 15, 2026 SITC International Holdings Company Limited announced special dividend, payable on January 15, 2026 of HKD 0.7 per share with record date of January 12, 2026 and Ex-dividend date of January 05, 2026. Recent Insider Transactions • Sep 14
Key Executive recently sold HK$14m worth of stock On the 11th of September, Kecheng Liu sold around 441k shares on-market at roughly HK$30.72 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Kecheng has been a net seller over the last 12 months, reducing personal holdings by HK$32m. Declared Dividend • Aug 17
Dividend of HK$1.30 announced Shareholders will receive a dividend of HK$1.30. Ex-date: 28th August 2025 Payment date: 16th September 2025 Dividend yield will be 12%, which is lower than the industry average of 21%. Sustainability & Growth Dividend is covered by both earnings (71% earnings payout ratio) and cash flows (82% cash payout ratio). The dividend has increased by an average of 25% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 44% over the next 3 years. Since a fall of 21% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk. Reported Earnings • Aug 16
First half 2025 earnings released: EPS: US$0.24 (vs US$0.13 in 1H 2024) First half 2025 results: EPS: US$0.24 (up from US$0.13 in 1H 2024). Revenue: US$1.66b (up 28% from 1H 2024). Net income: US$630.0m (up 80% from 1H 2024). Profit margin: 38% (up from 27% in 1H 2024). The increase in margin was driven by higher revenue. Revenue is expected to fall by 2.5% p.a. on average during the next 3 years compared to a 3.8% decline forecast for the Shipping industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • Aug 06
SITC International Holdings Company Limited to Report First Half, 2025 Results on Aug 15, 2025 SITC International Holdings Company Limited announced that they will report first half, 2025 results on Aug 15, 2025 Announcement • Apr 30
SITC International Holdings Company Limited Approves Final Dividend for the Year Ended 31 December 2024 SITC International Holdings Company Limited at its AGM held on April 29, 2025, approved final dividend of 140 Hong Kong cents per share for the year ended 31 December 2024. Upcoming Dividend • Apr 25
Upcoming dividend of HK$1.40 per share Eligible shareholders must have bought the stock before 02 May 2025. Payment date: 22 May 2025. Payout ratio is a comfortable 70% and the cash payout ratio is 82%. Trailing yield: 11%. Within top quartile of Hong Kong dividend payers (7.9%). Lower than average of industry peers (14%). Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to HK$17.50, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 6x in the Shipping industry in Hong Kong. Total loss to shareholders of 2.3% over the past three years. Recent Insider Transactions • Mar 28
Insider recently sold HK$79m worth of stock On the 25th of March, Shaopeng Yang sold around 4m shares on-market at roughly HK$20.00 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of HK$92m more than they bought in the last 12 months. Declared Dividend • Mar 12
Dividend of HK$1.40 announced Shareholders will receive a dividend of HK$1.40. Ex-date: 2nd May 2025 Payment date: 22nd May 2025 Dividend yield will be 13%, which is lower than the industry average of 21%. Sustainability & Growth Dividend is covered by earnings (70% earnings payout ratio) but not covered by cash flows (163% cash payout ratio). The dividend has increased by an average of 30% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 31% over the next 3 years. Since a fall of 22% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk. Reported Earnings • Mar 11
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: US$0.39 (up from US$0.20 in FY 2023). Revenue: US$3.06b (up 26% from FY 2023). Net income: US$1.03b (up 94% from FY 2023). Profit margin: 34% (up from 22% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 8.7%. Revenue is forecast to stay flat during the next 3 years compared to a 1.9% decline forecast for the Shipping industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Announcement • Mar 10
SITC International Holdings Company Limited, Annual General Meeting, Apr 29, 2025 SITC International Holdings Company Limited, Annual General Meeting, Apr 29, 2025. Announcement • Feb 26
SITC International Holdings Company Limited to Report Q4, 2024 Final Results on Mar 10, 2025 SITC International Holdings Company Limited announced that they will report Q4, 2024 final results on Mar 10, 2025 Announcement • Jan 21
SITC International Holdings Company Limited Provides Unaudited Earnings Guidance for Year Ended December 31, 2024 SITC International Holdings Company Limited Provides unaudited Earnings Guidance for Year Ended December 31, 2024. For the period, the company expected the unaudited profit attributable to the Company's shareholders to be between approximately USD 1,000.0 million and USD 1,030.0 million, representing an increase of between approximately 86.5% and 92.1%, as compared with that for the year ended 31 December 2023. Announcement • Dec 18
SITC International Holdings Company Limited Announces Change in Composition of Board Committees The board of directors of SITC International Holdings Company Limited announced the following changes to the composition of the disclosure committee of the Company and the sustainable development committee of the Company with effect from 18 December 2024: Mr. Xue Mingyuan, executive Director and chief executive officer of the Company, ceased to be the chairman of the Disclosure Committee and the chairman of the Sustainable Development Committee; Mr. Liu Kecheng, executive Director, ceased to be a member of the Disclosure Committee and a member of the Sustainable Development Committee; Mr. Lai Zhiyong, executive Director, ceased to be a member of the Disclosure Committee and a member of the Sustainable Development Committee; Ms. Yang Xin, non-executive Director and vice chairman of the Board, has been appointed as the chairman of the Sustainable Development Committee; Mr. Tse Siu Ngan, chief independent non-executive Director, has been appointed as a member of the Disclosure Committee and a member of the Sustainable Development Committee; Dr. Liu Ka Ying, Rebecca, independent non-executive Director, has been appointed as a member of the Disclosure Committee and a member of the Sustainable Development Committee; and Dr. Hu Mantian (Mandy), independent non-executive Director, has been appointed as the chairman of the Disclosure Committee and a member of the Sustainable Development Committee. Upcoming Dividend • Oct 29
Upcoming dividend of HK$0.40 per share Eligible shareholders must have bought the stock before 05 November 2024. Payment date: 15 November 2024. Payout ratio is a comfortable 72% and the cash payout ratio is 84%. Trailing yield: 4.3%. Lower than top quartile of Hong Kong dividend payers (7.9%). Lower than average of industry peers (6.2%). Announcement • Oct 23
SITC International Holdings Company Limited Declares Special Dividend, Payable on 15 November 2024 SITC International Holdings Company Limited declared special dividend of HKD 0.4 per share. Ex-dividend date is 05 November 2024. Record date is 12 November 2024. Payment date is 15 November 2024. Major Estimate Revision • Aug 28
Consensus EPS estimates increase by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from US$2.68b to US$2.79b. EPS estimate increased from US$0.25 to US$0.286 per share. Net income forecast to grow 22% next year vs 35% growth forecast for Shipping industry in Hong Kong. Consensus price target up from HK$20.19 to HK$20.73. Share price rose 8.0% to HK$18.36 over the past week. Declared Dividend • Aug 23
First half dividend of HK$0.72 announced Shareholders will receive a dividend of HK$0.72. Ex-date: 2nd September 2024 Payment date: 20th September 2024 Dividend yield will be 6.9%, which is lower than the industry average of 21%. Sustainability & Growth Dividend is covered by earnings (72% earnings payout ratio) but not adequately covered by cash flows (94% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 5.8% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 22
First half 2024 earnings released: EPS: US$0.13 (vs US$0.12 in 1H 2023) First half 2024 results: EPS: US$0.13 (up from US$0.12 in 1H 2023). Revenue: US$1.30b (up 3.8% from 1H 2023). Net income: US$350.7m (up 13% from 1H 2023). Profit margin: 27% (up from 25% in 1H 2023). Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, while revenues in the Shipping industry in Asia are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 18% per year whereas the company’s share price has fallen by 20% per year. Announcement • Aug 21
SITC International Holdings Company Limited Declares Interim Dividend for the Six Months Ended 30 June 2024, Payable on 20 September 2024 SITC International Holdings Company Limited declared Interim Dividend of HKD 0.72 per share for the Six Months Ended 30 June 2024. Ex-dividend date is 02 September 2024. Record date is 06 September 2024. Payment date is 20 September 2024. Announcement • Aug 09
SITC International Holdings Company Limited to Report Q2, 2024 Results on Aug 21, 2024 SITC International Holdings Company Limited announced that they will report Q2, 2024 results on Aug 21, 2024 Major Estimate Revision • Jun 15
Consensus EPS estimates increase by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from US$2.56b to US$2.71b. EPS estimate increased from US$0.229 to US$0.257 per share. Net income forecast to grow 32% next year vs 32% growth forecast for Shipping industry in Hong Kong. Consensus price target up from HK$19.76 to HK$22.43. Share price fell 3.9% to HK$20.70 over the past week. Announcement • Apr 27
SITC International Holdings Company Limited Approves Final Dividend for the Year Ended 31 December 2023 SITC International Holdings Company Limited at its AGM held on 26 April 2024 approved a final dividend of 50 HK cents per share for the year ended 31 December 2023. Upcoming Dividend • Apr 23
Upcoming dividend of HK$0.50 per share Eligible shareholders must have bought the stock before 30 April 2024. Payment date: 21 May 2024. Payout ratio is a comfortable 70% but the company is paying out more than the cash it is generating. Trailing yield: 6.4%. Lower than top quartile of Hong Kong dividend payers (8.3%). In line with average of industry peers (6.2%). Major Estimate Revision • Mar 14
Consensus EPS estimates fall by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$2.63b to US$2.45b. EPS estimate also fell from US$0.238 per share to US$0.203 per share. Net income forecast to grow 4.8% next year vs 4.8% growth forecast for Shipping industry in Hong Kong. Consensus price target down from HK$15.83 to HK$15.26. Share price rose 23% to HK$15.10 over the past week. Announcement • Mar 10
SITC International Holdings Company Limited Announces CEO Changes SITC International Holdings Company Limited announced that Mr. Yang Xianxiang, an existing executive Director, vice chairman of the Board (the "Vice Chairman") and chief executive officer of the Company (the "CEO"), has been re-designated as the Chairman of the Board. Following the re-designation as the Chairman of the Board, Mr. Yang Xianxiang will no longer hold the position as the CEO in order to maintain good corporate governance practices. The Board announced that Mr. Xue Mingyuan, an existing executive Director, has been appointed as the CEO in place of Mr. Yang Xianxiang with effect from 7 March 2024. Mr. Xue Mingyuan, aged 50, has been appointed as an executive Director since 11 March 2013. Mr. Xue has been serving as the president of SITC Shipping Group and the general manager of SITC Container Lines since December 2012. Mr. Xue obtained a master degree in international shipping and logistics management from The Hong Kong Polytechnic University () in November 2004. He received a master degree in business administration from China Europe International Business School in September 2012. Mr. Xue has over 26 years of experience in the shipping industry. During the period from August 1997 to November 2012, Mr. Xue had served as the export supervisor of SITC Lianji (Shandong) Co. Ltd., the manager of the customers service department and the sales and marketing department of SITC Container Lines, the deputy general manager and general manager of SITC Container Lines (Korea) Co. Ltd. and the general manager of SITC Container Lines Company Limited. Announcement • Mar 08
SITC International Holdings Company Limited, Annual General Meeting, Apr 26, 2024 SITC International Holdings Company Limited, Annual General Meeting, Apr 26, 2024. Agenda: To consider the Proposed Amendments and the proposed adoption of the Third Amended and Restated Articles of Association. Reported Earnings • Mar 08
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: US$0.20 (down from US$0.73 in FY 2022). Revenue: US$2.43b (down 41% from FY 2022). Net income: US$531.4m (down 73% from FY 2022). Profit margin: 22% (down from 47% in FY 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 4.1%. Earnings per share (EPS) also missed analyst estimates by 15%. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 6.6% decline forecast for the Shipping industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Announcement • Mar 07
SITC International Holdings Company Limited Proposes Final Dividend for the Year Ended 31 December 2023, Payable on 21 May 2024 SITC International Holdings Company Limited proposed final dividend of HKD 0.5 per share for the Year Ended 31 December 2023, Payable on 21 May 2024. Ex-dividend date is on 30 April 2024 with Record date on 08 May 2024. Date of shareholders' approval on 26 April 2024. Announcement • Feb 23
SITC International Holdings Company Limited to Report Fiscal Year 2023 Results on Mar 07, 2024 SITC International Holdings Company Limited announced that they will report fiscal year 2023 results on Mar 07, 2024 Valuation Update With 7 Day Price Move • Feb 08
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to HK$13.62, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 9x in the Shipping industry in Asia. Total loss to shareholders of 2.5% over the past three years. Announcement • Jan 19
SITC International Holdings Company Limited Provides Earnings Guidance for the Year Ended 31 December 2023 SITC International Holdings Company Limited provided earning guidance for 31 December 2023. The board of directors of the Company informed shareholders of the Company and potential investors that, based on the information currently available to the management, the unaudited profit attributable to the Company's shareholders for the year ended 31 December 2023 is expected to be approximately USD 530 million, representing a decline of approximately 73% as compared with that for the year ended 31 December 2022. For the year ended 31 December 2023, container shipping volume was 3.2 million TEUs, a decline of approximately 1% from that of the previous year, and the average freight rate was USD 623/TEU, a decline of approximately 43% from the previous year. Although the adjustment in global economic trade and inventory cycle in 2023, as well as the increased transportation capacity, and sector competition has led to a significant decline in unit freight revenue, the Company's differentiated and low-cost strategy has maintained strong profitability. The Company is confident that it will continue to leverageits advantages to provide customers with low-carbon, environmentally friendly, and high-quality supply chain services that create higher value for all stakeholders. Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to HK$13.04, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 10x in the Shipping industry in Asia. Total returns to shareholders of 23% over the past three years. New Risk • Oct 21
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 2.6% per year for the foreseeable future. High level of non-cash earnings (22% accrual ratio). Minor Risk Dividend is not well covered by cash flows (98% cash payout ratio). New Risk • Sep 01
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 22% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 6.2% per year for the foreseeable future. High level of non-cash earnings (22% accrual ratio). Minor Risk Dividend is not well covered by cash flows (98% cash payout ratio). Major Estimate Revision • Aug 23
Consensus EPS estimates fall by 18% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$2.85b to US$2.71b. EPS estimate also fell from US$0.388 per share to US$0.316 per share. Net income forecast to shrink 22% next year vs 18% decline forecast for Shipping industry in Hong Kong. Consensus price target down from HK$20.24 to HK$18.08. Share price rose 2.4% to HK$15.20 over the past week. Upcoming Dividend • Aug 21
Upcoming dividend of HK$0.60 per share at 28% yield Eligible shareholders must have bought the stock before 28 August 2023. Payment date: 14 September 2023. Payout ratio is a comfortable 68% but the company is paying out more than the cash it is generating. Trailing yield: 28%. Within top quartile of Hong Kong dividend payers (7.8%). Lower than average of industry peers (36%). Announcement • Aug 18
SITC International Holdings Company Limited Declares Interim Dividend for the Financial Year Ending December 31, 2023, Payable on 14 September 2023 SITC International Holdings Company Limited declared a interim dividend of HKD 0.6 per share for the financial year ending December 31, 2023. Ex-dividend date is 28 August 2023, Latest time to lodge transfer documents for registration with share registrar for determining entitlement to the dividend of 29 August 2023 16:30, Record date is 04 September 2023 and Payment date is 14 September 2023. Reported Earnings • Aug 17
First half 2023 earnings released: EPS: US$0.12 (vs US$0.44 in 1H 2022) First half 2023 results: EPS: US$0.12 (down from US$0.44 in 1H 2022). Revenue: US$1.25b (down 45% from 1H 2022). Net income: US$310.3m (down 73% from 1H 2022). Profit margin: 25% (down from 52% in 1H 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to stay flat during the next 3 years compared to a 18% decline forecast for the Shipping industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Announcement • Aug 03
SITC International Holdings Company Limited to Report First Half, 2023 Results on Aug 16, 2023 SITC International Holdings Company Limited announced that they will report first half, 2023 results on Aug 16, 2023 Valuation Update With 7 Day Price Move • Apr 26
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to HK$15.00, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 8x in the Shipping industry in Asia. Total returns to shareholders of 191% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$28.47 per share.