In March 30 – COSCO SHIPPING Development Co., Ltd. (601866.SH / 02866.HK, the “Company”) announced its 2025 annual results. According to the report, the Company generated revenue of RMB 25.201 billion and total profit of RMB 2.067 billion in 2025, representing a year-over-year increase of 17.37%. Net profit attributable to shareholders, excluding non-recurring items, reached RMB 1.544 billion, up 10.76% compared with the prior year. Basic earnings per share were RMB 0.1214.
The Company has already paid an interim dividend of RMB 0.22 per 10 shares for 2025. The Board has also proposed a final dividend of RMB 0.15 per 10 shares, bringing the total dividend for the year to RMB 0.37 per 10 shares.
Strengthening the Core: Integrating Industry and Finance to Build Momentum
The Company continues to focus on its core pillars—industry, finance, and investment—driving ongoing value creation through deeper integration across its platforms. The container manufacturing segment generated revenue of RMB 22.131 billion. By capturing market opportunities, the Company sold nearly 1.8 million TEUs of containers in 2025. Ongoing investment in innovation led to the launch of nearly 50 new products during the year, creating a high-value, specialized container portfolio. The Company also introduced the world’s first batch of bio-based refrigerated containers made from new materials, supporting both product diversification and sustainability goals. It expanded the use of reinforced containers to advance equipment innovation and rolled out its “Omni-Intelligent Storage” solution, further strengthening its technical capabilities in energy storage equipment. The shipping leasing segment reported revenue of RMB 2.063 billion. Leveraging synergies between its industrial and financial platforms, the Company invested in high-quality vessels featuring modern designs, environmental performance, and operational flexibility—supporting stable, long-term returns. During the year, more than 40 vessels were delivered under integrated industry-finance projects, spanning bulk carriers, asphalt tankers, LNG carriers, and VLCCs. This has enabled the Company to build a diversified, multi-asset shipping portfolio, with fleet scale ranking among the leaders in China’s ship leasing sector. The container leasing business recorded revenue of RMB 5.531 billion. With a focus on full lifecycle asset management, the Company expanded into high-growth markets including Southeast Asia and South America, further unlocking synergies between leasing and manufacturing. As of year-end 2025, its container fleet exceeded 4.1 million TEUs, reinforcing its global service network. The investment management segment continued to optimize capital allocation, enhance portfolio returns, and explore innovative investment models and new approaches to logistics asset operations.
Digital Innovation: Powering Quality and Efficiency
Technology remains a core driver of the Company’s high-quality growth. In 2025, the Company invested nearly RMB 320 million in R&D and now holds more than 810 active patents. It continues to strengthen collaboration across academia, research institutions, and industry partners, building a solid foundation for next-generation innovation.
Digital transformation is also playing a central role in improving operational efficiency and scalability. In intelligent manufacturing, the Company has implemented a structured approach focused on targeted advancements. Four container manufacturing facilities have achieved Level 3 certification under the intelligent manufacturing capability maturity model. The Ningbo facility became the first in the industry to receive national “Excellence-Level” intelligent factory certification, while both the Qingdao and Ningbo plants were recognized as national 5G-enabled factories. Several of these achievements have also received industry technology awards, setting new benchmarks for smart manufacturing in the container sector. On the digital front, the Company continues to advance smart operations across its business lines. The container leasing segment has established an integrated data platform spanning manufacturing, leasing, and logistics. Its container trading platform received the Bronze Pioneer Award at the 2025 Global Digital Trade Expo. Meanwhile, the shipping leasing business launched a digital vessel monitoring platform, significantly improving fleet management and operational visibility.
Green Leadership: Expanding the Frontiers of Low-Carbon Transformation
The Company has built a comprehensive green ecosystem that integrates industry and finance across the shipping value chain, laying a strong foundation for long-term sustainable growth. On the production side, the Company continues to advance green manufacturing. Six of its container plants have been recognized as “National Green Factories,” marking full adoption of green factory standards across its container manufacturing operations. At the same time, the Company is expanding its green business footprint by deepening its presence in energy storage containers and strengthening strategic partnerships with leading renewable energy companies. It has also launched the industry’s first Container Carbon Footprint and Environmental Product Declaration (CFP & EPD) platform, with certification labels now covering 500,000 containers. In asset deployment, the Company is increasing investments in next-generation, low-carbon vessels, including methanol- and ammonia-ready bulk carriers, LNG vessels, and other environmentally advanced ships. In collaboration with industry partners, it also issued the country’s first certification for a 700 TEU all-electric vessel, the Hi-ECO e-vessel, helping standardize, quantify, and track green shipping services. The Company continues to strengthen its green financing capabilities, raising nearly RMB 6.5 billion in funding dedicated to low-carbon transition and sustainability initiatives during the year—further reinforcing financial support for its green strategy.
Responsible Practices: Delivering Value Through Strong Governance
The Company integrates sustainability into both its strategic planning and day-to-day operations, aligning business growth with broader social and environmental value creation. In 2025, the Company received more than ten ESG-related awards and recognitions. It maintained an “A” rating in the Hang Seng ESG Ratings, was included in the S&P Global Sustainability Yearbook (China Edition) for the third consecutive year, and was named to both the “China ESG Listed Companies Pioneer 100” and the “China ESG Listed Central SOEs Pioneer 100” lists. The Company also continues to demonstrate its commitment to social responsibility. Leveraging its industrial capabilities, it supported rural revitalization efforts by improving learning environments in Luolong County, Tibet, including the construction of customized modular school facilities for local teachers and students.
Delivering Value: Reinforcing Confidence Through Multiple Channels
Guided by a focus on value creation and realization, the Company has implemented a range of initiatives to drive further improvements in quality and efficiency. Through a combination of shareholder return strategies and enhanced value communication, it remains committed to protecting shareholder interests and strengthening overall enterprise value. The Board has proposed a final dividend of RMB 0.15 per 10 shares for 2025, bringing the total annual dividend to RMB 0.37 per 10 shares. During the year, the Company also completed two rounds of A- and H-share repurchases, buying back and canceling approximately 350 million shares for a total of RMB 510 million. A new round of share repurchases has since been launched, underscoring the Company’s commitment to delivering long-term shareholder value and supporting a more stable market valuation.
Looking ahead, COSCO SHIPPING Development will remain focused on its long-term strategy, adapt to evolving market dynamics, and pursue new opportunities for balanced growth and continued breakthroughs. The Company will continue to strengthen its core competitive advantages across industry, finance, and investment, while accelerating its ability to create long-term value. In container manufacturing, the focus will be on more disciplined, efficiency-driven operations—enhancing production capabilities and optimizing capacity deployment. In shipping leasing, the Company will build on its momentum by expanding its portfolio of high-quality assets and deepening relationships with a broader, more diversified customer base. In container leasing, it will continue to drive innovation by delivering customized solutions and creating greater value for customers. The Company will further leverage technology to advance “green and intelligent manufacturing,” develop more agile and data-driven operations, and pioneer new models for integrating industry and finance. At the same time, ESG principles will remain closely embedded in both strategy and operations, supporting the creation of sustainable, long-term value and delivering stronger returns for investors. Looking ahead, the new journey of the 15th Five-Year Plan has begun. COSCO SHIPPING Development is well positioned to navigate change, capture new opportunities, and drive high-quality growth in the years to come.
