BOCOM INTL

BOCOM International staged a strong session, closing at HK$0.75, up 8.7% from the previous close of HK$0.69, with a full-day range of 12%. After a morning dip to an intraday low of HK$0.67, the stock rallied steadily to HK$0.72, then extended gains in the afternoon to a high of HK$0.76 before easing slightly. The surge was driven by its own fundamentals: Q4 operating revenue skyrocketed 266% YoY to HK$258.4M, net profit turned positive to HK$8.4M, and EPS of HK$0.0031 swung to profit. Recent active business moves—including participation in a US$365.9M vessel refinancing facility for BOCOM subsidiaries and additional subscription of CDBALF notes—also bolstered sentiment. The stock is now up 111% YTD, well above its 20-day MA (HK$0.525) and 60-day MA (HK$0.467), yet still 30% below the 52-week high of HK$1.08. However, the company remains loss-making (negative P/E), with a P/B of 2.19x, leaving the sustainability of its valuation recovery in question.