On June 30, 2026, COSCO SHIPPING Development Co., Ltd. (COSCO SHIPPING Development or the company, Stock Code: 601866.SH / 2866.HK) held its 2025 Annual General Meeting of Shareholders, as well as the first A-share and H-share class meetings for 2026.
The meeting reviewed and approved 12 proposals, including the 2025 Board of Directors’ work report, the final dividend distribution plan for 2025, and authorization for the Board to determine the interim dividend plan for 2026. Shareholders also granted a general mandate for the repurchase of A-shares and H-shares and approved the acquisition of 10 bulk carriers from COSCO SHIPPING Bulk Transportation Co., Ltd.(COSCO SHIPPING Bulk Transportation). The meeting additionally elected the Company’s eighth Board of Directors and reviewed the 2025 annual report of independent directors.
The Company’s management expressed appreciation for shareholders’ continued support and engaged in in-depth discussions on topics including the outlook for the container market, business performance highlights, shareholder return initiatives, and market value management. Management reaffirmed that the Company has consistently prioritized delivering sustainable returns to shareholders. Looking ahead, it will continue to focus on value creation, strengthen value delivery through multiple channels, and work with shareholders to realize long-term corporate value.
Since 2026, amid a complex global economic environment, the Company has maintained stable operations, strengthened collaboration across the industrial chain, and continued to build resilient capabilities in shipping industry-finance integration. The resolutions approved at the meeting further reinforce its long-term strategic direction.
Shipping Leasing Business Maintains Strong Momentum
The Company has acquired eight 210,000-ton bulk carriers and two 64,000-ton bulk carriers currently under construction from a subsidiary of COSCO SHIPPING Bulk. After delivery, these vessels will be chartered out under long-term lease agreements. This investment will further expand the scale and improve the quality of the Company’s vessel portfolio, strengthen the foundation of its shipping leasing business, and support stable long-term revenue, cash flow generation, and future profitability.
Continued Strengthening of Shareholder Returns
To date, the Company has completed three rounds of A+H share repurchase programs, totaling approximately 415 million shares repurchased and canceled, with an aggregate value of approximately RMB 6.4 billion. In 2025, the Company distributed a cash dividend of RMB 0.037 per share, marking eight consecutive years of dividend payments. Through a more frequent and structured dividend distribution approach, the Company continues to enhance predictable returns for shareholders.
Entering a New Phase Under the 15th Five-Year Plan
COSCO SHIPPING Development will continue to pursue its strategic vision of becoming a world-class shipping industry-finance operator. The Company will further strengthen its core capabilities across industry, finance, and investment, advance digital transformation, and accelerate green and low-carbon development to support high-quality, sustainable growth. At the same time, the Company will continue to enhance market value management, explore diversified return mechanisms, and deliver long-term, stable shareholder value through sustained improvements in its value creation capabilities.
