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COSCO SHIPPING Development Released First Quarterly Report of 2022Net Profit Increased Significantly Year-on-year
发布时间: 2022-04-30

On the evening of 29 April, COSCO Shipping Development (601866.SH/02866.HK) disclosed its first quarterly report of 2022. The Company realized operating income of RMB6.192 billion in the first quarter of 2022, representing an increase of 4.20% from the corresponding period of the previous year, and the net profit attributable to shareholders and other equity holders of listed company was RMB1.377 billion, representing a significant year-on-year increase of 66.21%, and basic earning per share amounted to RMB0.1031.

To challenge the complex market environment and promote the high-quality development of the Company

Since 2022, the Company has been actively deploying and being vigilant in times of peace, continuously improving its ability to control the market and stabilizing the cycle, deepen the improvement of quality and efficiency, and maintain a steady increase in economic benefits.

During the reporting period, in terms of vessel leasing business, the Company continued to promote internal and external vessel leasing business, and the scale of vessels expanded steadily. At present, 4 pulp vessels and 16 bulk carriers delivered have contributed stable income. At the same time, the Company actively expanded the vessel segmentation market and smoothly launched leasing projects such as crude oil tankers and chemical tankers, further consolidating its position in the domestic and foreign vessel financing market. In terms of container leasing business, the Company actively promoted the optimization of container structure, strengthened the market influence of its two major businesses, namely container leasing and container trading, and improved asset efficiency.

In the container manufacturing sector, the synergy created by the acquisition and integration of container manufacturing assets by the Company was further released. The Company closely followed the market, enhanced customer loyalty with high-quality services, and at the same time strengthened the market expansion of special containers, and strengthened the diversified development of the Company's products and services. In the first quarter, the Company achieved a steady increase in efficiency year-on-year.

To practice the dual-carbon strategy and promote the development of the electric vessel industry chain

The Company actively implemented the dual-carbon strategy and steadily promoted the commencement of the electric vessel project. On 18 March, COSCO SHIPPING Development signed two 700TEU-class electric container vessel construction agreements and vessel leasing agreements with COSCO SHIPPING Heavy Industries (Yangzhou) and Shanghai PAN-ASIA Shipping. Upon completion of the construction, the two 700TEU-class container vessels will be leased to COSCO SHIPPING Lines for operation, to jointly promote the green and zero-carbon transformation of shipping in the Yangtze River. As the first batch of green zero-carbon smart electrification pilot vessel types, the Company will strive to form an overall plan and implementation path for the development of green and zero-carbon water transport in the Yangtze River. The Company was also constantly exploring and enhancing the research, development and manufacturing capability of marine box power batteries by focusing on the electric vessel industry chain and was committed to building a vessel charging and exchanging network in key water zones in China.

To actively prevent and fight against the pandemic and fulfill social responsibilities

As the world's second-largest container manufacturer, the Company fulfilled its corporate social responsibilities and undertook the construction of the Qidong Health Station Project. In the face of tight delivery time, technical barriers, material supply, and outbreaks of pandemics, the Company has exerted its organizational efforts to tackle the difficulties. It took less than a month to complete the delivery of the project with high quality, contributing to the normalization of pandemic prevention and control. The Company continued to improve the level of technological innovation and actively expanded the multi-purpose application scenarios of containers.

To seize market opportunities and enhance value creation capabilities

In 2022, the growth rate of the global economy has slowed down, and the Chinese economy has many favorable conditions for sustainable development. In the face of the future, COSCO SHIPPING Development will study and judge the situation, seek progress steadily, create opportunities, move forward along the path of high-quality development, and continuously improve the Company's operational management capabilities, sustainable development capabilities and shareholder's return capabilities.

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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