COSCO SHIPPING Specialized Carriers Co Ltd (600428) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of COSCO SHIPPING Specialized Carriers Co Ltd stock ¥11.90, price ¥10.68, upside +11.4%, quality 48 out of 100. Rating: undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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COSCO SHIPPING Specialized Carriers Co Ltd
600428 · SHGThe stock costs 10% less than our calculation considers fair.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 2, 2026.
How to read this chart
60‑month range ¥3.53 – ¥12.09 · fair‑value band ¥8.69 – ¥15.47 · the ¥10.68 price screens below the ¥11.90 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 2, 2026.
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Company profile
COSCO SHIPPING Specialized Carriers Co.,Ltd. operates as a shipping company. It operates and manages approximately 100 vessels, including multi-purpose and heavy lift vessels, semi-submersible vessels, pure car carriers, logs carriers, and asphalt carriers.
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The company also transports cargoes, such as RIGs, engineering vessels, port machinery, locomotives, windmills, bridge cranes, equipment, etc.
In addition, it provides liner shipping services on various trade routes, including the Far East-Southeast Asia/India, Far East-Mediterranean Sea/Europe, Far East-Persian Gulf/Red Sea, Far East-Africa, Far East-America, and Far East-Australia.
Further, it offers pulp, boats, locomotive, wind power, and offshore shipping solutions; tubular sail and heavy lift ship transportation case.
COSCO SHIPPING Specialized Carriers Co.,Ltd. was formerly known as Guangzhou Ocean Shipping Co., Ltd. The company was founded in 1961 and is headquartered in Guangzhou, China. COSCO SHIPPING Specialized Carriers Co.,Ltd. operates as a subsidiary of China Ocean Shipping Company Limited.
Stock analysis
COSCO SHIPPING Specialized Carriers Co Ltd (600428) currently trades at ¥10.68, while our model-based Fair Value estimate is ¥11.90, implying the stock looks roughly 10% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of ¥29.47 per share, and 17 of the 26 models we run sit above the ¥10.68 price.
Bear case: the Dividend Discount group reads lowest at ¥3.63, and 9 of the 26 models stay below the price. Data coverage for this calculation is medium.
Scenario range: ¥8.69 (bear) to ¥15.47 (bull), the price of ¥10.68 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 48/100 (below-average quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
COSCO SHIPPING Specialized Carriers Co Ltd reported revenue of 23.2B CNY in FY2025 versus 8.8B CNY in FY2021, a compound +27.6%/yr. Reported net income was 1.8B CNY in FY2025, compounding +56.0%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 27.7B CNY (≈ $4.2B) Mid · P/E ratio 12.6 · P/S ratio 1.37 · EPS (TTM) ¥0.8500 · Dividend yield 3.0% · Net margin 8.7% · Return on equity 17.4% · Return on assets (EBIT) 4.7% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 53 out of 100 (low confidence).
What moves the price
The share trades about 12% below its 52-week high and 58% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 13% fair-value upside, at 11%, 600428 screens richer than that median.
Fair Value models
All 26 models by family
The fair value above starts from this blend and is adjusted for dilution from new shares.
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Revenue & earnings trend
Growth Forecast
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Compare COSCO SHIPPING Specialized Carriers Co Ltd with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Marine Shipping · 220 stocks
Valuation Multiplesvs Marine Shipping median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Industrials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- EV/EBITDA by industry
- Dividend yield by industry
- PEG screener for stocks with fair value
- Undervalued stocks: Industrials
- Undervalued stocks: Chinese Stocks
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Marine Shipping stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| China Merchants Port Holdings 0144 | HK$16.68 | HK$28.60 | +71% | vs 600428 |
| HMM Co 011200 | 22,050 KRW | 30,253 KRW | +37% | vs 600428 |
| Qingdao Port International Co 601298 | ¥9.75 | ¥12.84 | +32% | vs 600428 |
| Ningbo Zhoushan Port Company 601018 | ¥3.56 | ¥4.35 | +22% | vs 600428 |
| The National Shipping Company 4030 | 34.90 SAR | 39.45 SAR | +13% | vs 600428 |
| Shanghai International Port (Group) Co 600018 | ¥5.68 | ¥6.41 | +13% | vs 600428 |
| Hapag-Lloyd Aktiengesellschaft, HLAG | €127.50 | €108.70 | −15% | vs 600428 |
| Wan Hai Lines Ltd 2615 | 107.50 TWD | 67.03 TWD | −38% | vs 600428 |
| SITC International Holdings 1308 | HK$45.80 | HK$27.22 | −41% | vs 600428 |
| Adani Ports and Special Economic Zone Limited ADANIPORTS | ₹1,937 | ₹1,051 | −46% | vs 600428 |
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Frequently asked questions
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Key figures of COSCO SHIPPING Specialized Carriers Co Ltd
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