China Merchants Energy Shipping: Recently, the Middle East situation has led to the suspension of the company's oil tankers and other fleet vessels from entering and exiting the Persian Gulf route.

（Source: Caixin News）

          The company expects that the related shipping market’s freight rates will continue to face the risk of severe fluctuations, and there are many uncertainties regarding the freight rate trend; the risk is currently difficult to accurately predict.            

On April 3, China Merchants Shipbuilding (601872.SH) released an announcement. The company’s stock price, within three consecutive trading days, closed with an accumulated deviation of over 20% in the closing price increase. According to the relevant provisions of the Trading Rules of the Shanghai Stock Exchange, this falls under a situation of abnormal stock price fluctuations.

After the company’s self-examination and by issuing an inquiry letter to its controlling shareholder and actual controller, the relevant situation is explained as follows. First, in recent days, the company’s production and operations are basically normal, but the Middle East situation has recently led to the suspension of its oil tanker fleet and other fleets from entering and exiting the Persian Gulf route. Second, after verification with the company’s controlling shareholder and actual controller, as of now, except for matters previously disclosed by the company, no major matters have been planned involving the listed company, such as major asset restructuring, acquisitions, debt restructuring, business restructuring, asset stripping, or asset injection. In addition, after the company’s review, apart from the matters brought by the Middle East situation that may entail a certain operating risk, no media reports or market rumors have been found that require clarification or response and that would have a major impact on the company’s stock trading price. It has also not involved market hot-spot concepts. At the same time, on January 14, 2026, the company disclosed to the public the “Announcement on the Share Reduction Plan for Stocks Obtained by China Merchants Shipbuilding Directors and Executives Under Equity Incentive,” and as of the date of this announcement, the reduction of shares by the directors and executives above is being carried out normally according to the plan. After verification, no other major events have been found that may have a significant impact on the company’s share price. No incidents have been found involving other directors, senior management personnel, the controlling shareholder, or any of their persons acting in concert buying or selling the company’s shares during the period of this abnormal stock trading fluctuation.

The company expects that the related shipping market’s freight rates will continue to face the risk of severe fluctuations, and there are many uncertainties regarding the freight rate trend; the risk is currently difficult to accurately predict. In the recent period, the company’s stock price has continued to rise rapidly; the valuation level has increased rapidly; and trading volume has continued to expand. Based on the closing price on April 3, the TTM price-earnings ratio is 27.39, and the historical percentile is 62.50; the price-to-book ratio is 3.83, and the historical percentile is 91.10; the total market capitalization has reached 164.6 billion, setting a new historical high again. The rapid increase in valuation over the short term or may already reflect optimistic expectations in the market regarding the company’s continued performance growth and growth in asset value, etc. The company reminds small and medium investors to be mindful of risks, make independent decisions, and invest rationally. The shipping market, the stock market, and related sectors’ share prices may continue to experience severe fluctuations. The company’s share price and trading volume may continue to face the risk of severe fluctuations in the future.

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