(28 October 2022, Hong Kong) - COSCO SHIPPING Development Co., Ltd. announced the financial results for the nine months ended 30 September 2022. In the first three quarters of 2022, the Company recorded revenue of RMB18.97 billion, and net profit attributable to owners of the parent company reached RMB3.72 billion. Basic earnings per share amounted to RMB0.2782, reflecting the sustainability of its profitability.
 
Drove steady development of the Company to tackle the complex market environment
 
Since the beginning of 2022, the global economy has slowed down, leading to heightened volatility of the shipping market. Faced with the complex and severe market situation, the Company strengthened its strategic leadership, actively planned its business layout, focused on improving the quality and efficiency of its operations, deeply explored its growth potential, improved its capability in market prediction and response, and firmly promoted the high-quality development of the Company amid market fluctuations.
 
During the Reporting Period, the Company continued to expand vessel leasing business for internal and external segments, constantly optimized the business model which combines industry and finance, and gave full play to the advantages of its industrial chain which “combines leasing with manufacturing and leasing with transportation” respectively. In terms of container leasing business, the Company fully grasped the market opportunity arising from strong demand for second-hand containers, stabilized the container leasing business, strengthened the business of trading containers in due course, effectively improved asset efficiency, and fully exploited the potential of the global network to improve customer service capabilities. In terms of container manufacturing business, the Company actively responded to shipping market fluctuations and promoted intelligent low-carbon development through integration of scientific and technological resources. The Company paid attention to product innovation and research, enhanced customer stickiness with high-quality services, strengthened market development with diversified products, enhanced core competitiveness, and promoted sustainable development.
 
Launched a positive and stable dividend payment plan and shared the Company’s development achievements with shareholders
 
The Company is committed to creating value for investors and safeguarding their interests. It has paid out cash dividends for four consecutive years, with the dividend payout ratio increasing every year. In August 2022, the Company successfully completed the distribution of dividends for 2021 to A-share and H-share investors. The total amount of cash dividends distributed to all shareholders was approimately RMB3.06 billion, accounting for more than 50% of net profit attributable to shareholders of the Company and associates for 2021, and constantly improved the capability to return to shareholders.
 
Scientific and technological innovation enhanced the sustainability of future development
 
The Company integrated the concept of environment, society and governance (ESG) into its core strategy, management structure, corporate culture and business operation. It paid close attention to the needs of internal and external stakeholders, and continuously improved ESG performance. The Company fully promoted the electric ship project, developed and manufactured marine box type power batteries around the electric ship industry chain, jointly promoted the technical innovation and industrialization of electric ships, and contributed to the green zero carbon development.
 
The container manufacturing enterprises under the Company focused on people’s livelihood and actively innovated. The container integrated ecological toilet project developed by the Company won the 2022 Excellence Award for People’s Livelihood Improvement issued by the BRICS Industry and Commerce Council.
 
Actively responded to market fluctuations and comprehensively improved risk prevention and control capabilities
 
In the face of the uncertainty of the external situation and the fluctuation of the market, the Company further strengthened the risk control work under the rule of law, improved the compliance management level, effectively carried out risk investigation and prevention, further improved the risk management mechanism, continuously improved the accuracy and effectiveness of risk prevention and control, and laid a solid foundation for the high-quality development of the Company under the rule of law and compliance.
 
Planned layout, improved quality and efficiency, and actively played the role of industrial and financial platform
 
Looking ahead, COSCO SHIPPING Development will continue to build and improve the shipping industry finance operation service system, strive to promote scientific and technological innovation, strengthen digital intelligence empowerment, optimize the industry finance integration service model, and promote high-quality development with a more complete industrial layout, better services and more efficient management.

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