UBS issued a research report stating that CHINA MER PORT (00144)'s interim recurring net profit declined 5% year-on-year, falling below the bank's expectations, likely due to decreased profit contributions from Shanghai International Port Group and other factors. However, the performance still represented approximately 51% of the full-year forecast. Management anticipates that full-year port throughput will demonstrate low single-digit growth, with overseas port throughput expected to continue rising. In response to the latest earnings performance, UBS maintains its "buy" rating on CHINA MER PORT while slightly reducing the target price from HK$17.5 to HK$17.4, and lowering its recurring net profit forecast for this year by 1%.