On the evening
of August 30, COSCO SHIPPING Development (601866.SH/02866.HK) releases its
half-yearly report for 2024. The report shows: the company realized operating
revenue of RMB11.76 billion in the first half of 2024, net profit attributable
to shareholders of the listed company of RMB895 million, realized basic
earnings per share of RMB0.0661, and paid 2024 interim dividend of RMB0.19 per
10 shares.
In the first
half of 2024, in the face of the complex and volatile market environment, COSCO
SHIPPING Development continued to enhance its core functions of “production, financing and investment”, focused on deepening reform and
innovation, and promoted the high-quality development of the Company with the
development idea of seeking progress amidst stability and promoting stability
with progress.
Deepen the synergy between production and financing, and
enhance the ability of value creation
The report shows
that in the first half of 2024, the company's container manufacturing business
achieved operating income of RMB9.782 billion, up 172.4% year-on-year. The
company actively grasps the market opportunity of gradually stabilizing and
rising demand, focusing on precision marketing, to achieve a new situation of
market development. The company's container sales in the first half of the year
amounted to 744,400 TEU, a year-on-year increase of 302.2%. At the same time,
the company digs deep into the end-user demand, strengthen scientific and
technological innovation to further expand the field of energy storage
containers, automobile containers, housing containers and other new special
containers, in order to enhance the value-creation ability of the momentum
empowered.
Revenue from container leasing business amounted to
RMB2.576 billion, up 6.3% year-on-year. The Company gave full play to the
unique advantages of leasing and manufacturing synergy, realized new
breakthroughs in cooperation with major customers, and effectively consolidated
the cooperation of mainstream shipowner customers. At the same time, the
Company actively expanded diversified product leasing services and continuously
improved its service efficiency, further demonstrating the competitive strength
of its brand.
The shipping
leasing business generated revenue of RMB1.175 billion, and the Company focused
on improving the capacity of production and financing services, actively
innovating the business model of production and financing synergy, focusing on
the expansion of high-quality projects, and simultaneously announcing the
investment in the construction and leasing transactions of 42 bulk carriers,
with the total amount of shipbuilding orders exceeding RMB14.3 billion,
successfully commencing the largest shipbuilding and leasing transactions since
the transformation to a shipping production and financing operator, further
consolidating the cornerstone of the ship leasing business, contributing
long-term stable income and cash flow, and realizing win-win cooperation
between the upstream and downstream of the industry chain.
Focus on
scientific and technological innovation, promote the green development of
digital intelligence
The company
drives industrial upgrading with scientific and technological innovation, and
its customization and specialization ability is continuously improved. Qidong
Containers Factory, which belongs to the Company, was awarded the “Best Innovative Enterprise in China's
Energy Storage Industry in the Year 2024”by China International Energy Storage Conference, and
Shanghai Universal Science and Technology Co., Ltd., which belongs to the
Company, passed the evaluation of Shanghai's “Specialized, Refined, Characteristic and Innovative”enterprise which further strengthened the
ability of independent innovation.
The Company
constructs new potential energy of development with digital intelligence, the
construction of iFlorens digital operation platform of container leasing
segment is in order, realizing the data link with many containers stacking
yards, and the case of industry chain synergistic platform has passed the
preliminary examination of “2024 National
State-owned Enterprises' Science and Technology Innovation and Digital
Intelligence Development Model”. Container
manufacturing plate equipment intellectualization innovation is remarkable, a
number of container factories won the “Sixth National Equipment Management and Technological
Innovation Achievements”awards.
At the same
time, the company thickly planted green low-carbon nature, the first 700TEU
electric container ship was in the trial operation in the first half of the
year. Container environmental product declaration platform released 13 declarations
and standards; the industry influence is effectively enhanced. In addition, the
Company landed the country's first financial loan for the transformation of the
water transportation industry and the world's first container industry chain
transformation financial project, the green financing service industry chain
capacity continues to strengthen.
Improving the
quality of listed companies and promoting value realization
The Company
continuously improves the effectiveness of corporate governance, deeply
cultivates ESG governance, optimizes the communication mechanism in the capital
market, and jointly promotes the realization of value. In the first half of the
year, the Company was honored with an A rating in China's national ESG
evaluation and the “ESG Competitiveness
Model - Dual-Carbon Pioneer”in the 2024
Golden Bee, was selected in the S&P Global Sustainability Yearbook (China
Edition) 2024 for the second consecutive time, and was listed in the CGTN's “Yangtze River Delta ESG Pioneer 50”list, and was successfully selected as one
of the constituent stocks of the first “Ocean Economy”index, demonstrating the value recognition of the
capital market.
The Company attaches full importance to reasonable returns to investors,
and successfully completed the 2023 dividend payout in August, with a total
dividend amount of RMB430 million. The Company is actively exploring and
researching implementation paths and programs to further enhance investor
returns, and will pay an interim dividend of RMB0.19 per 10 shares to create
greater value for shareholders while practicing sustainable development.
Looking ahead,
in the face of the complex and volatile world economic and trade environment as
well as the new trend and pattern of transformation and upgrading of the
shipping industry, COSCO SHIPPING Development will always anchor on the goal of
high-quality development, focus on the positioning of the integration of
production and financing, strengthen the digital empowerment of science and
technology, accumulate the energy momentum of green development, and make
concerted efforts to show a new phenomenon of high-quality development.