HK Stock Market Move | TS LINES (02510) opened more than 13% higher after its performance announcement. The annual net profit attributable to shareholders was USD 366 million, an increase of 1666.93% year-on-year.

TS LINES (02510) opens more than 13% higher after performance announcement, up 13.36% at HK$6.96 with a trading volume of HK$83.59 million as of the time of writing. On the news front, on March 28, TS LINES released its annual results for the year ended December 31, 2024, with revenue of USD 1.34 billion, a year-on-year increase of 53.26%; net profit attributable to shareholders of USD 366 million, a year-on-year increase of 1666.93%; basic earnings per share of USD 0.254; and proposed a final dividend of USD 0.11 per share. The announcement stated that the increase in revenue mainly reflects an increase in revenue from container shipping services from approximately USD 8.02 billion for the year ended December 31, 2023, to approximately USD 12.71 billion for the year ended December 31, 2024, an increase of about 58.5%. This is primarily due to: the overall average freight rate increasing from around USD 547 per TEU in 2023 to around USD 769 per TEU in 2024, which is generally consistent with market rate changes; the Group launching new long-haul routes in the East Asia-Middle East market and resuming long-haul routes in the Trans-Pacific market, with higher freight rates for these routes compared to short-haul routes; and shipping volume increasing by approximately 12.7% from 146.64 million TEUs in 2023 to 165.22 million TEUs in 2024, partly attributable to the Group's increase in shipping capacity.