Goldman Sachs issued a report stating that COSCO SHIP PORT (01199) is projected to achieve a net profit of $312 million in 2025, representing a year-on-year increase of 1.1%, which is 8% below market expectations. Net profit for the fourth quarter fell 45% year-on-year and 42% quarter-on-quarter to $47.8 million. The bank attributed this primarily to one-time costs at terminals in the Yangtze River Delta and higher costs recognized in the fourth quarter for the Qiankai terminal. The target price was slightly reduced from HK$6.8 to HK$6.6, while maintaining a "Buy" rating. The forecasted dividend yield for 2026 is approximately 5%, which is considered attractive. Considering the continued strong growth in throughput and rising average prices driven by inflation, the bank believes that margins and profits are expected to improve in 2026. Earnings per share forecasts for 2026 and 2027 were lowered by 12% and 11%, respectively.