HK Stock Market Move | SHENZHOU INTL (02313) rises more than 3%; Morgan Stanley predicts that the company's shipments will increase by 15% year-on-year in the second half of 2024.

SHENZHOU INTL (02313) rose more than 3%, reaching 3.5% at the time of publication, trading at HKD 60.55 with a turnover of HKD 1.96 billion. On the news front, a recent research report by Morgan Stanley pointed out that the market has overreacted to the issues of tariffs and slowing growth for SHENZHOU INTL in terms of size. However, Morgan Stanley believes that the market is overlooking the company's leading position as an original equipment manufacturer (OEM), which can continue to provide structural profit growth and returns for investors. Morgan Stanley maintains its outlook for the company in 2025, benefiting from the growing brand strength and the recovery of major sports brands. They believe the company can continue to grow rapidly as an OEM. It is expected that the company's shipment volume will increase by 15% year-on-year in the second half of 2024.