On the evening of March 28, COSCO SHIPPING Development (Stock Code: 601866.SH/02866.HK) disclosed its annual report for 2024. The report shows that the company achieved a revenue of RMB27.627 billion in 2024, representing a year-on-year increase of 76.7%. The net profit attributable to shareholders of the listed company reached RMB1.686 billion, up by 19.64% year-on-year. The basic earnings per share were RMB0.1246. During the year, the company had distributed an interim dividend of RMB0.19 per 10 shares for 2024, and the board of directors has proposed to distribute an end-of-year dividend of RMB0.19 per 10 shares for 2024.

In 2024, the global industrial chain and supply chain structure underwent profound adjustments, geopolitical situations were frequently disturbed, and the shipping industry accelerated its transformation towards greening and digital intelligence. Faced with a market environment full of both challenges and opportunities, the company realized a steady improvement in operational quality and efficiency, and firmly advanced towards the goal of high-quality and sustainable development. The container manufacturing business experienced robust growth, with a total of 1.7959 million TEUs of containers sold throughout the year, a year-on-year increase of over 200%, setting a new historical record in sales volume. The company successfully delivered energy storage boxes with a year-on-year increase of 123%, and optimized and upgraded the built-in car carriers, leading industry innovation and development. The container leasing business made steady progress, leveraging the synergistic effect of leasing and manufacturing. New leasing orders signed during the year increased by over 110% year-on-year. By the end of 2024, the container fleet size had exceeded 4 million TEUs; 12 new international depots were added, further consolidating the company's market position. The shipping leasing business demonstrated resilience. For the first time, the company promoted the linkage of "leasing, manufacturing, and transportation", investing RMB14.3 billion in a 42 bulk carrier industry-finance integration project. The number of vessels managed (including those under construction) increased by over 27% year-on-year, contributing long-term and stable returns. The investment management business further perfected the service structure of shipping asset operations and promoted industrial structure upgrading.

Strengthening Innovation-Driven Development, Accelerating Digital Intelligence and Green Upgrades

The company is committed to making efforts in both digital and intelligence development. The Universal Technology has been recognized as a specialized, refined, unique, and innovative enterprise in Shanghai. Qingdao Container Factory has been selected as a "National 5G Factory", and Ningbo Container Factory has obtained the first industry certificate for the assessment of intelligent manufacturing capability maturity level three. The iFlorens Container Digital Handling Project won the third prize in the State-owned Assets Supervision and Administration Commission's Yixing Innovation and Creativity Competition.

The company is committed to advancing green and low-carbon development and exploring green value. It has strengthened green production, achieving full coverage of green factories in six container factories. It has expanded green business by establishing the world's first container carbon footprint and environmental product declaration platform, with green labels applied to approximately 36,000 containers. It has incubated green assets by issuing the first domestic greenhouse gas emission reduction certificate for the domestic trade shipping industry. It has also innovated green financing by implementing the world's first container industry chain transformation finance project, supporting the sustainable development of industry-finance business.

Committed to Value Creation, Advancing Sustainable Development

In 2024, the company implemented its first mid-year dividend distribution and plans to distribute an end-of-year dividend of RMB0.19 per 10 shares, continuing to share the company's development achievements with investors for seven consecutive years. It actively explored the "toolbox" of market value management, initiating the repurchase of H-shares and A-shares. As of March 28, a total of 147 million H-shares and 64 million A-shares had been repurchased, with a repurchase amount reaching RMB306 million, further enriching the ways of investor returns and promoting the reasonable return of the company's market value.

The company adheres to the concept of responsibility and writes a new chapter in ESG. In 2024, it obtained the A-level rating in the ESG evaluation of China Reform Holding Corporation and was selected into the "Yangtze River Delta ESG•Top 50" list by CCTV, among more than ten honors. It leveraged its industry experience and industrial advantages to achieve precise assistance, building container canteens for primary schools in Tibet and cultural and tourism stations, contributing to rural revitalization.

Looking ahead, the company will continue to focus on the foundation of shipping industry-finance integration, strive to cultivate and develop new-quality productivity, continuously explore new paths for market value management, and create long-term sustainable value for shareholders, customers, partners, and society.