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COSCO SHIPPING Development Announces 2021 Q3 ResultsIntegrated Advantages And Realized Significant Performance Improvement
发布时间: 2021-11-01

  (29 October 2021, Hong Kong) COSCO SHIPPING Development Co., Ltd. (“COSCO SHIPPING Development” or the “Company”) (SSE: 601866, HKEx: 2866) today announced its 3Q results for the nine months ended 30 September 2021 (the “Period”). During the Period, the Company recorded a total operating revenue of RMB 24.98 billion,representing a year-on-year increase of 96.6%. The net profit attributable to shareholders of the Company amounted to RMB3.99 billion, achieving a substantial year-on-year growth, basic earnings per share was RMB 0.3281.

  Integrated advantages and realized positive net profit growth

  Since the second half of 2021, the global economy and trade have been recovering steadily, the market demand for transportation has been booming, the container transportation industry has been in short supply, and the shipping industry chain was in good condition. Focusing on shipping business, COSCO SHIPPING Development took advantage of market opportunities to achieve continuous breakthroughs in the breadth and depth of each business segment to attain significant growth in net profit.

  During the Reporting Period, based on principles of "finance + industry" business philosophy, the Company focused on developing external market in addition to managing its existing businesses and strengthened the synergy between “leasing and manufacturing, leasing and trading, and leasing and shipping” to extend innovative business coverage and optimize container asset portfolio and fully leverage ability of value creation. In terms of container manufactory business, the Company made effort to implement “Six Stabilities” and “Six Priorities” and leveraged its scale effect and synergistic effect for raising productivity utilization rate to achieve good investment returns. Meantime, the Company practiced green container manufacturing to maintain the good development pattern of container manufacturing industry. In terms of the supply chain finance service platform, the Company sought to expand one-stop supply chain finance services through leveraging portfolio service advantages in rental, commercial factoring and risk management areas as well as developing and improving the “one-stop supply chain financial services platform” based on block chain technology to achieve the empowerment of shipping finance through technology. In terms of investment management business, the Company devoted to various financial and strategic financial investment businesses and deeply engaged in integrating industry and finance with a focus on main marine and logistic businesses to promote industry upgrade.

  Leased business segment built on the integration of industry and finance to achieve industrial chain coordination

  The Company continued to deepen the integration of production and finance, enriching the fleet. As of the end of September, all the 16 bulk carriers of 210,000-ton ordered by the Company have been delivered and leased to COSCO SHIPPING Bulk Co., Ltd.. 2 ships of the 10 multi-purpose pulp ships ordered by the Company were delivered and leased to COSCO SHIPPING Specialized Carriers Co., Ltd.. At the same time, the scale of financial leasing business has been steadily expanded. the Company owns more than 90 ships of various types, such as liquefied natural gas, heavy crane, oil tanker, etc., and more than 50 transportation projects of wharf and terminal equipment. the Company actively cooperated with the deployment of dual-carbon work and considered the possibility of using electric ships in inland rivers, coastal areas and oceans, and expanded the leasing business of new environment-friendly ships.

  The Company's container leasing business scale is among the top in the world. The Company effectively leveraged advantages in “leasing and manufacturing synergy” and seized market opportunities. The Company fully leveraged advantages of industrial chain operations and market influence, and continuously enriched products and improved services. Benefited from the container market prosperity and its own outstanding advantages, the Company Realized good returns.

  Substantial progress was seen in container manufacturing plate assets acquisitions reflecting the industry continues to upgrade

  Affected by the dual factors of global economic recovery and blocked container backflow, the container manufacturing industry has ushered in a market opportunity since the second half of 2020, and the economic benefits of the Company's container manufacturing sector continued to rise. Taking advantage of the situation, the Company further optimized the layout of boxed production capacity, expanded diversified operations, improved the content of science and technology, and realized the effective improvement of comprehensive competitiveness by acquiring the target assets.

  On September 24, the shares issued by COSCO SHIPPING Development to purchase assets and raised matching funds and related transactions were reviewed by the China Securities Regulatory Commission's listed company merger and reorganization review committee and passed unconditionally. On October 20, the Company received the approval from China Securities Regulatory Commission, indicating substantial progress in the capital operation project. This transaction will help the Company to improve the geographical layout of the container manufacturing business segment and increase the variety of products to further integrate production capacity and customer resources and finally consolidate and enhance the competitive position in the industry. At the same time, the Company will further optimize the capital structure, enhance value creation ability and protect the interests of the Company and shareholders by raising matching funds.

  Supply chain financial services and investment business segments focused on industrial finance and continued to make breakthroughs

  The Company utilized multi-channel service qualifications such as corporate commercial factoring, microfinance, industrial funds, financial leasing, insurance brokerage, etc., and through cooperation with top domestic data management providers to implement digital transformation  and build a one-stop financial service online platform. The Company realized the industry-finance synergy with the main business sector of shipping logistics and enhanced customer stickiness and main business competitiveness to optimize the existing customer structure and further build the advantages of the integrated supply chain. Through the mutual collaboration and value-added services between the upstream and downstream business segments of the industrial chain, the Company will strive to explore the use of intelligent data management to empower the main shipping and logistics industry and upstream and downstream customers to help improve the overall efficiency of the supply chain.

  Building a new development pattern and an excellent industrial financial operator

  Looking ahead, a new status quo is being forged in the global economy and trade. The Company will further implement new development approaches and accelerate the establishment of a new development pattern and fully leverage advantages in the shipping industry chain to make steady progress and achieve new breakthroughs in the field of shipping finance characteristics, and constantly improve the level of high-quality development.

 
 
About Us
COSCO SHIPPING Development Co., Ltd. (the “Company” or “COSCO SHIPPING Development”), formerly known as China Shipping Container Lines Company Limited, is a subsidiary of China COSCO SHIPPING Corporation Limited (“China COSCO SHIPPING” or “COSCO SHIPPING”) specialized in supply-chain financial services. The Company was established in 1997, with head office in Shanghai, the People’s Republic of China (the “PRC”), and is listed both in Hong Kong and Shanghai. The registered capital of the Company is about RMB11.61billion.
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