Revenue and Profit Growth - Revenue for the first half of 2024 increased to RMB 101.20 billion, up by RMB 9.36 billion (10.2%) compared to RMB 91.84 billion in the same period of 2023[2] - Net profit attributable to equity holders of the company rose to RMB 16.87 billion, a slight increase of RMB 309.44 million (1.9%) from RMB 16.56 billion in 2023[2] - Revenue for the first half of 2024 reached RMB 101.201 billion, a year-on-year increase of 10.19%[42][43] - Net profit attributable to equity holders of the company was RMB 16.87 billion, an increase of RMB 309.443 million compared to the same period last year[42][43] - Revenue for the first half of 2024 reached RMB 101,201,055 thousand, a 10.19% increase year-over-year[48][50] - Net profit attributable to equity holders for the first half of 2024 was RMB 16,870,080 thousand, a 1.87% increase year-over-year[48] Earnings Per Share and Dividends - Basic earnings per share (EPS) increased to RMB 1.05, up by RMB 0.02 from RMB 1.03 in the previous year[2] - The company declared an interim dividend of RMB 0.52 per share for the first half of 2024[2] - Basic earnings per share increased to RMB 1.05 in 2024 from RMB 1.03 in 2023, driven by a net profit attributable to equity holders of RMB 16.87 billion, up from RMB 16.56 billion in 2023[30] - The company declared an interim dividend of RMB 0.52 per share, totaling approximately RMB 8.3 billion, representing 49.20% of the net profit attributable to shareholders for the first half of 2024[29] - The company proposed an interim dividend of RMB 0.52 per share, payable on August 29, 2024[41] - The company will distribute an interim dividend of RMB 0.52 per share (tax inclusive), totaling approximately RMB 8.3 billion, which is 49.20% of the net profit attributable to shareholders in the first half of 2024[103] - The interim dividend for H shares will be HKD 0.569128 per share (tax inclusive), calculated based on the average exchange rate of RMB 1 to HKD 1.094477 during the week before August 29, 2024[103] - The ex-dividend date for the interim dividend is expected to be October 8, 2024, with the dividend for H shares to be distributed and paid on October 25, 2024[103] Gross and Operating Profit - Gross profit for the first half of 2024 was RMB 23.16 billion, compared to RMB 19.78 billion in 2023, reflecting a growth of RMB 3.38 billion (17.1%)[4] - Operating profit for the period reached RMB 19.05 billion, up from RMB 18.13 billion in 2023, an increase of RMB 921.99 million (5.1%)[4] Comprehensive Income and Assets - Total comprehensive income for the first half of 2024 was RMB 19.77 billion, a decrease from RMB 24.18 billion in 2023, primarily due to lower other comprehensive income[5] - Total assets as of June 30, 2024, stood at RMB 467.12 billion, up from RMB 462.43 billion at the end of 2023, reflecting a growth of RMB 4.69 billion (1.0%)[6] - Total equity as of June 30, 2024, was RMB 257,430,297 thousand, an increase from RMB 243,219,472 thousand as of December 31, 2023[7] - Total liabilities as of June 30, 2024, were RMB 209,687,682 thousand, a decrease from RMB 219,209,909 thousand as of December 31, 2023[7] - Total assets increased by RMB 4,688,598 thousand (1.01%) to RMB 467,117,979 thousand as of June 30, 2024[67] - Total liabilities decreased by RMB 9,522,227 thousand (4.34%) to RMB 209,687,682 thousand as of June 30, 2024[67] Cash and Cash Equivalents - Cash and cash equivalents decreased to RMB 172.35 billion as of June 30, 2024, from RMB 181.11 billion at the end of 2023, a reduction of RMB 8.76 billion (4.8%)[6] - Cash and cash equivalents decreased by RMB 8,763,175 thousand (4.84%) to RMB 172,350,141 thousand as of June 30, 2024[62] - Net cash inflow from operating activities increased by RMB 9,376,890 thousand (70.71%) to RMB 22,638,496 thousand in the first half of 2024[63] - Net cash outflow from investing activities decreased by RMB 1,917,051 thousand to RMB 10,356,232 thousand in the first half of 2024[64] - Net cash outflow from financing activities decreased by RMB 19,698,925 thousand to RMB 21,498,052 thousand in the first half of 2024[65] - Net cash position increased by RMB 1,059,731 thousand to RMB 97,787,563 thousand as of June 30, 2024[67] Container Shipping Business - Total revenue for the six months ended June 30, 2024, was RMB 101,201,055 thousand, with container shipping business contributing RMB 97,477,271 thousand and terminal business contributing RMB 5,091,135 thousand[14] - Net profit for the period was RMB 19,255,367 thousand, with the container shipping business contributing RMB 16,330,539 thousand and the terminal business contributing RMB 1,185,027 thousand[14] - The company's container shipping business generated external revenue of RMB 97,436,656 thousand, while the terminal business generated external revenue of RMB 3,764,399 thousand[14] - Total revenue for the container shipping business reached RMB 88,287,136 thousand, with external revenue accounting for RMB 88,243,258 thousand[15] - The company's total profit for the period was RMB 19,675,781 thousand, with the container shipping business contributing RMB 16,779,621 thousand[15] - Container shipping revenue for the first half of 2024 was RMB 97,477,271 thousand, up 10.41% year-over-year[51] - Container shipping costs for the first half of 2024 rose by 8.39% to RMB 75,741,625 thousand[54] - The company's container shipping segment achieved a cargo volume of 12.4595 million TEUs, a year-on-year increase of 9.34%[43] - The company's self-operated container fleet capacity reached 3.24 million TEUs, an increase of 6.5% compared to the beginning of the period[44] - Container shipping business revenue increased by 9,190,135 thousand RMB, reaching 97,477,271 thousand RMB, with a year-on-year growth of 10.4%[88] - EBIT for container shipping business was 20,851,364 thousand RMB, with an EBIT margin of 21.39%, a decrease of 2.14 percentage points compared to the previous year[88] - Net profit for container shipping business decreased by 449,082 thousand RMB to 16,330,539 thousand RMB[88] - COSCO Shipping Lines' container shipping revenue increased by 7,565,441 thousand RMB to 67,435,833 thousand RMB, with a year-on-year growth of 12.6%[89] - COSCO Shipping Lines' EBIT increased by 1,771,386 thousand RMB to 14,535,839 thousand RMB, with an EBIT margin of 21.56%, up 0.24 percentage points[89] - International route revenue per TEU increased by 51.48 USD to 1,210.70 USD[90] - COSCO Shipping Lines' net profit increased by 1,313,351 thousand RMB to 10,174,796 thousand RMB, with a year-on-year growth of 14.8%[89] - International route revenue per TEU for COSCO Shipping Lines increased by 59.95 USD to 1,273.27 USD[91] Terminal Business - The terminal business generated total revenue of RMB 4,850,964 thousand, with external revenue at RMB 3,599,539 thousand[15] - The terminal business in the Europe region generated external revenue of RMB 1,731,045 thousand[20] - The terminal business in the Asia-Pacific region contributed RMB 190,694 thousand in external revenue[20] - The terminal business in Mainland China recorded external revenue of RMB 1,823,292 thousand[20] - The total external revenue for the terminal business across all regions was RMB 3,764,399 thousand[20] - Total revenue from terminal operations was RMB 88,243,258 thousand, with Europe contributing RMB 1,627,878 thousand[21] - COSCO Shipping Ports' total throughput reached 69.86 million TEUs, a year-on-year increase of 8.19%, with overseas regions contributing 16.52 million TEUs, up 4.12%[92][93] Regional Performance - The Americas region contributed RMB 27,965,756 thousand to the container shipping business's external revenue[20] - The Europe region's external revenue from the container shipping business was RMB 21,448,120 thousand[20] - The Asia-Pacific region's external revenue from the container shipping business reached RMB 23,852,077 thousand[20] - Container shipping revenue in the Americas region reached RMB 20,731,694 thousand, accounting for a significant portion of total revenue[21] - Europe region's container shipping revenue was RMB 19,761,546 thousand, showing strong performance[21] - Asia-Pacific region's container shipping revenue stood at RMB 23,602,837 thousand, indicating robust growth[21] - China mainland's container shipping revenue was RMB 10,068,019 thousand after inter-segment adjustments[21] - The company's total revenue in USD terms grew by 8.75% to USD 12,723,879 thousand, with the Trans-Pacific route showing the highest growth at 33.96%[86] - The company's total revenue from its subsidiary COSCO Shipping Lines increased by 12.56% to RMB 61,587,583 thousand, with the Trans-Pacific route growing by 41.71%[85] - Revenue from the Trans-Pacific route surged by 36.56% to RMB 27,731,163 thousand, contributing significantly to the overall revenue growth of 10.86%[84] - The Asia-Europe (including Mediterranean) route saw a decline in freight volume by 14.87%, while revenue increased by 9.91% to RMB 20,299,731 thousand[82][84] Financial Assets and Investments - The company's financial assets measured at fair value decreased by RMB 59,891 thousand to RMB 2,353,119 thousand, with notable changes in equity investments and convertible bonds[80] - The company's investment income totaled RMB 52,109 thousand, with significant contributions from equity investments and bond investments[81] - The fair value change in financial assets resulted in a gain of RMB 5,896 thousand, primarily driven by the increase in the value of convertible bonds[80] - The company's financial assets measured at fair value through other comprehensive income amounted to RMB 1,496,598 thousand, primarily from investments in Guangzhou Port[81] Share Repurchases and Cancellations - The company has repurchased a total of 59,999,924 A shares and 155,000,000 H shares, with a total payment of approximately RMB 583,328,594 and HKD 1,201,957,510 respectively, excluding transaction fees[100] - In January 2024, the company repurchased 34,032,000 H shares at a highest price of HKD 8.44 and a lowest price of HKD 7.60, totaling HKD 271,275,105[101] - In February 2024, the company repurchased 23,019,000 H shares at a highest price of HKD 8.80 and a lowest price of HKD 7.71, totaling HKD 190,659,075[101] - The company has canceled all 59,999,924 repurchased A shares and 155,000,000 repurchased H shares as of June 30, 2024[101] Tax and Dividend Distribution - The company will withhold a 10% enterprise income tax for non-resident enterprise shareholders when distributing the interim dividend[105] - For individual investors in mainland China who invest in H shares through the Shanghai-Hong Kong Stock Connect, the company will withhold and pay personal income tax at a rate of 20%[106] - For mainland enterprise investors who invest in H shares through the Shanghai-Hong Kong Stock Connect, the company will not withhold income tax, and these investors must declare and pay the tax themselves[107] - The company will distribute interim dividends to domestic investors (including enterprises and individuals) investing in H-shares through the Shenzhen Stock Exchange via the Shenzhen-Hong Kong Stock Connect. The dividends will be paid in RMB, with a 20% withholding tax rate for individual investors and securities investment funds, while enterprise investors are required to self-report and pay the tax[108] Forward-Looking Statements and Disclosures - The company emphasizes that past performance does not guarantee future results, and any forward-looking statements are subject to risks and uncertainties, with actual results potentially differing significantly from expectations[109] - The company has disclosed the electronic version of the announcement on the Hong Kong Stock Exchange website and its own website, and will release the interim report for the six months ending June 30, 2024, containing all relevant information as required by the Listing Rules Appendix D2[110]

Financial Performance - The net profit attributable to shareholders for Q1 2024 was CNY 48,269,963,140.26, representing a decrease of 5.23% compared to the same period last year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 6,724,195,276.79, down by 5.20% year-on-year[3]. - The basic earnings per share for Q1 2024 was CNY 0.42, down by 4.55% compared to the same period last year[3]. - In Q1 2024, the company's EBIT was RMB 9.977 billion, a decrease of RMB 750 million, representing a decline of 6.99% year-on-year[13]. - The net profit for the group was RMB 6,278,291 thousand, a decrease of 17.24% compared to the previous year[21]. - Net profit for Q1 2024 was RMB 7.68 billion, a decrease of 10.47% compared to RMB 8.58 billion in Q1 2023[34]. - Comprehensive income for Q1 2024 totaled RMB 7.78 billion, compared to RMB 6.91 billion in Q1 2023, reflecting a growth of 12.66%[37]. Cash Flow - The net cash flow from operating activities increased by 44.07% to CNY 8,864,882,203.76, primarily due to reduced tax payments compared to the previous quarter[6]. - Cash inflow from operating activities in Q1 2024 was RMB 49.51 billion, a decrease of 6.67% from RMB 52.78 billion in Q1 2023[38]. - Cash outflow from operating activities totaled 40,646,517,397.61 CNY in Q1 2024, down 12.8% from 46,623,906,549.18 CNY in Q1 2023[39]. - The net cash flow from investing activities was -3,916,887,210.70 CNY in Q1 2024, an improvement from -10,085,093,358.51 CNY in Q1 2023[40]. - Cash inflow from financing activities was 1,166,266,843.11 CNY in Q1 2024, a decrease of 54.9% compared to 2,587,424,377.24 CNY in Q1 2023[41]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 459,426,464,135.63, a decrease of 0.65% from the end of the previous year[3]. - Total current assets amounted to RMB 196.56 billion, a decrease of 2.3% from RMB 202.48 billion on December 31, 2023[28]. - Total liabilities decreased to RMB 209.38 billion from RMB 219.21 billion, a reduction of 4.5%[31]. - The company's long-term borrowings decreased to RMB 27.21 billion from RMB 32.74 billion, a decline of 17.0%[31]. - The total equity attributable to shareholders increased to RMB 202.85 billion, up 3.8% from RMB 196.12 billion[32]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 421,264[7]. - The largest shareholder, China Ocean Shipping Company, held 5,924,873,037 shares, representing 37.13% of the total shares[8]. - As of the report date, China Ocean Shipping Group directly and indirectly held a total of 7,009,619,897 shares, accounting for approximately 43.93% of the company's total share capital[10]. - The company's cash dividend proposal for the end of 2023 is set at RMB 0.23 per share, amounting to approximately RMB 3.67 billion based on the total share capital of 15,957,586,817 shares[12]. Operational Performance - The total cargo volume for the company's container shipping business in Q1 2024 was 6,027,330 TEUs, an increase of 10.53% compared to the same period last year[15]. - The cargo volume for the Trans-Pacific route was 1,079,761 TEUs, up 9.67% year-on-year, while the Asia-Europe route saw a decline of 9.16% to 959,372 TEUs[15]. - The company's fleet consisted of 510 container ships with a total capacity of 3.1056 million TEUs as of March 2024[14]. - The group's total revenue from shipping routes reached RMB 43,166,049 thousand, a year-on-year increase of 2.04%[17]. - The revenue from the Trans-Pacific route was RMB 12,530,271 thousand, up 21.16% compared to the same period last year[17]. Research and Development - Research and development expenses for Q1 2024 amounted to RMB 256.54 million, an increase of 22.24% from RMB 209.78 million in Q1 2023[33]. Other Comprehensive Income - Other comprehensive income after tax for Q1 2024 was RMB 97.18 million, a significant recovery from a loss of RMB 1.67 billion in Q1 2023[35]. - Other comprehensive income after tax for Q1 2024 was ¥67,651,235.42, compared to a loss of ¥12,938,160.79 in Q1 2023, showing a positive turnaround[47].

Financial Performance and Dividends - COSCO SHIPPING Holdings proposed a final dividend of RMB 0.23 per share for 2023, subject to shareholder approval[2] - COSCO SHIPPING Holdings achieved a revenue of RMB 1,754.48 billion, with an EBIT of RMB 366.69 billion and a net profit of RMB 283.96 billion[27] - The company's debt-to-asset ratio decreased by 3.02 percentage points to 47.40%, with cash and cash equivalents totaling RMB 1,811.13 billion[27] - COSCO SHIPPING Holdings repurchased approximately 215 million A and H shares by the end of February 2024, all of which were canceled[27] - The company declared a final cash dividend of RMB 0.23 per share for 2023, totaling RMB 3.67 billion, with a total annual cash dividend of RMB 11.866 billion, representing about 50% of the net profit attributable to shareholders[27] - Revenue for 2023 decreased by RMB 215,610,750 thousand (55.14%) compared to 2022, totaling RMB 175,447,747 thousand[36][38] - Net profit attributable to equity holders of the company decreased by RMB 85,932,195 thousand, reaching RMB 23,860,258 thousand in 2023[36] - Gross profit margin dropped significantly from 43.59% in 2022 to 15.72% in 2023, a decrease of 27.87 percentage points[34] - Container shipping revenue decreased by RMB 215,909,781 thousand (56.22%) to RMB 168,125,772 thousand in 2023[39] - Terminal business revenue increased by RMB 598,029 thousand (6.10%) to RMB 10,396,162 thousand in 2023[40] - Financial income increased by RMB 1,768,142 thousand (30.99%) to RMB 7,473,850 thousand in 2023 due to higher deposit interest rates[45] - Sales, management, and general expenses decreased by RMB 3,564,089 thousand (30.22%) to RMB 8,231,638 thousand in 2023[44] - Net cash flow from operating activities decreased by RMB 174,186,750 thousand (88.51%) to RMB 22,612,055 thousand in 2023[37] - Total assets decreased by RMB 49,500,696 thousand to RMB 462,429,381 thousand in 2023[34] - Net cash (liability) to equity ratio decreased by 16.14 percentage points to 39.77% in 2023[34] - Total operating costs for 2023 were RMB 147,860,433 thousand, a decrease of RMB 72,720,115 thousand (32.97%) compared to the previous year[46] - Container shipping business costs for 2023 were RMB 143,615,013 thousand, a decrease of RMB 72,990,512 thousand (33.70%) compared to the previous year[46] - Terminal business costs for 2023 were RMB 7,244,619 thousand, an increase of RMB 500,058 thousand (7.41%) compared to the previous year[47] - Financial expenses for 2023 were RMB 3,735,448 thousand, a decrease of RMB 105,189 thousand (2.74%) compared to the previous year[48] - Profit from joint ventures and associates for 2023 was RMB 4,697,824 thousand, an increase of RMB 2,385,759 thousand compared to the previous year[49] - Cash and cash equivalents as of December 31, 2023, were RMB 181,113,316 thousand, a decrease of RMB 54,500,607 thousand (23.13%) compared to the previous year[50] - Net cash inflow from operating activities for 2023 was RMB 22,612,055 thousand, a decrease of RMB 174,186,750 thousand (88.51%) compared to the previous year[51] - Net cash outflow from investing activities for 2023 was RMB 18,350,697 thousand, a decrease of RMB 14,626,090 thousand compared to the previous year[52] - Net cash outflow from financing activities for 2023 was RMB 60,021,698 thousand, a decrease of RMB 55,355,936 thousand compared to the previous year[53] - Total assets as of December 31, 2023, were RMB 462,429,381 thousand, a decrease of RMB 49,500,696 thousand (9.67%) compared to the previous year[55] - The company's total cash dividends for 2022 amounted to RMB 54.827 billion, also representing 50% of the net profit attributable to shareholders[119] - The company plans to pay a final dividend of RMB 0.23 per share for 2023, totaling approximately RMB 3.67 billion, with the total cash dividends for the year reaching RMB 11.866 billion, representing 50% of the net profit attributable to shareholders[119] Fleet and Infrastructure Development - COSCO SHIPPING Holdings received six new 24,188 TEU container ships in 2023, optimizing the fleet structure[15] - COSCO SHIPPING Holdings received 6 eco-friendly container ships with 24,000 TEU capacity and 1 ship with 14,000 TEU capacity, adding nearly 160,000 TEU to its fleet[28] - The company signed contracts for the methanol dual-fuel conversion of 2 ships with 13,800 TEU capacity and 2 ships with 20,000 TEU capacity, marking a global first for dual-fuel conversion projects[32] - The company's domestic container berths achieved 100% shore power coverage, with a total of 4,060 ship connections and a 214% year-on-year increase in power usage[32] - Distributed photovoltaic projects at ports reached a total installed capacity of 10 MW by the end of 2023, with an estimated annual power generation of 9 million kWh[32] - The company has 37 container ships under construction with a capital commitment of RMB 36,821,081 thousand for future construction[63] - The company's capital commitment for terminal investments totals RMB 6,370,020 thousand, including RMB 4,539,921 thousand for fixed asset procurement and RMB 1,830,099 thousand for terminal equity investments[63] - The company's self-owned container fleet consists of 502 vessels with a capacity exceeding 3.04 million TEUs, maintaining a leading position in the industry[83] - COSCO SHIPPING Holdings has 37 new ship orders with a total capacity of nearly 730,000 TEUs, focusing on green energy vessels to optimize fleet structure[83] - The company is accelerating green and digital transformation in the container shipping industry, including methanol-powered vessels and green fuel supply chain systems[73] - The company signed contracts for 5 methanol dual-fuel ships with a capacity of 24,000 TEU and announced orders for 7 methanol-compatible container ships with a capacity of 24,000 TEU, expected to be delivered starting in Q3 2026[126] - The company implemented fuel-saving measures and technical transformations on older ships, including hull biofouling removal and technical upgrades, to improve energy efficiency and reduce carbon emissions[130] - COSCO Shipping Ports achieved 100% coverage of shore power facilities at its domestic-controlled terminals, promoting green and low-carbon transformation in the industry[132] Digital and Supply Chain Innovations - COSCO SHIPPING Holdings launched the "Tai Hong" digital supply chain product, integrating "trucking, customs clearance, and shipping" on the SynCon Hub e-commerce platform[13] - COSCO SHIPPING Holdings initiated a sea-rail intermodal project in Malaysia, supporting its digital supply chain strategy[16] - COSCO SHIPPING Holdings issued its 100,000th blockchain-based electronic bill of lading, and GSBN won the Gold Award at the Global Digital Trade Expo[24] - The company launched new digital supply chain products, including "Customs Pass - China," "Customs Pass - Overseas," and "Warehouse and Distribution Pass"[24] - Supply chain revenue excluding shipping reached approximately RMB 29 billion, accounting for 17.3% of container shipping business revenue, an increase of 8.6 percentage points year-on-year[30] - The company successfully mobilized over 7,000 domestic trailers daily and utilized more than 5,000 overseas trailers, enhancing the overall supply chain system[30] - The SynCon Hub e-commerce platform saw significant growth in cargo volume for vehicle exports, lithium batteries, photovoltaic products, and cross-border e-commerce, with increases of 146%, 56%, 24%, and 75% respectively[31] - The GSBN platform issued over 100,000 blockchain bills of lading and facilitated paperless release services for more than 2 million TEUs[31] - The company plans to integrate global capacity, end-to-end service, and digital information networks to enhance its container shipping business and build a world-class container ecosystem[108] - The company will focus on supply chain systems, smart connectivity, and green low-carbon innovations in its container shipping business, aiming to become a leading global integrated port operator[108] Global Operations and Market Position - COSCO SHIPPING Holdings' North American subsidiary was awarded the "Sapphire Award" by NOAA, the highest honor[14] - COSCO SHIPPING Holdings and COSCO SHIPPING Ports were included in the Hang Seng China Central SOEs Index, highlighting their importance in the Hong Kong capital market[17] - The Ocean Alliance extended its cooperation for at least 5 years until 2032, and launched the DAY8 route product in mid-March[28] - COSCO SHIPPING Holdings launched new routes in Europe-South America East and upgraded the Far East-Africa route, while also introducing multiple RCEP member country routes[28] - The company accelerated the construction of the Chancay Port in Peru and signed a partial equity acquisition agreement for the Sokhna Port in Egypt[28] - The company operates a total of 283 international routes (including international feeder lines), 53 coastal routes in China, and 84 routes in the Pearl River Delta and Yangtze River branches, covering approximately 599 ports in 144 countries and regions[84] - In 2023, the Ocean Alliance launched the DAY7 route product, deploying new 20,000 TEU-class ships on the Asia-Europe route[84] - The Ocean Alliance extended its alliance period by 5 years in 2024 and optimized its products based on customer needs and market dynamics[84] - The company's total container shipping volume in 2023 was 23,554,977 TEUs, a year-on-year decrease of 3.51%[89] - The company's total revenue from shipping routes in 2023 was RMB 154,483,140 thousand, a year-on-year decrease of 57.85%[91] - The company's total revenue from shipping routes in USD terms in 2023 was USD 21,916,233 thousand, a year-on-year decrease of 59.77%[93] - The company's subsidiary, COSCO Shipping Lines, had a total container shipping volume of 16,216,860 TEUs in 2023, a year-on-year decrease of 6.16%[90] - The company's subsidiary, COSCO Shipping Lines, generated total revenue of RMB 105,290,741 thousand from shipping routes in 2023[92] - The company's subsidiary, COSCO Shipping Lines, generated total revenue of USD 14,937,399 thousand from shipping routes in 2023, a year-on-year decrease of 59.14%[94] - Container shipping revenue decreased by RMB 215.91 billion (-56.2%) year-over-year to RMB 168.13 billion[95] - EBIT margin dropped by 25.69 percentage points to 17.15% compared to the previous year[95] - Net profit declined by RMB 114.40 billion (-83.6%) year-over-year to RMB 22.42 billion[95] - International route revenue per TEU decreased by USD 1,581.56 (-60.0%) to USD 1,055.31[97] - Total port throughput increased by 4.38% to 135.81 million TEUs, with overseas regions growing by 3.07%[99][100] - The company invested RMB 5.50 billion to acquire a 5.81% stake in COFCO Fortune[102] - Global container shipping demand grew by 0.4% in 2023, while global container shipping capacity increased by approximately 8%, leading to a shift from weak supply-demand balance to oversupply[105] - In 2024, global container shipping demand is expected to grow, with approximately 3 million TEU of new capacity to be delivered, maintaining supply-demand tensions[105] - China's automobile exports reached 5.221 million units in 2023, a year-on-year increase of 57.4%, driving growth in related upstream and downstream industries and creating new opportunities for the port industry[107] - In 2024, the company will deploy 355 vessels with approximately 4.82 million TEU capacity in the DAY8 route product, offering over 480 direct port-to-port services[109] - Economic fluctuations, geopolitical tensions, and global trade restructuring may lead to weaker-than-expected growth in cargo demand in certain regions or industries[111] - The company is focusing on improving service quality, cost control, and business optimization in its port operations, leveraging digitalization and intelligence to enhance profitability[113] - The company is expanding its global port network, particularly in Southeast Asia, Africa, and South America, to capitalize on emerging market opportunities under the RCEP framework[113] - The company is committed to building a green, low-carbon, and safe transportation model, integrating innovation into its supply chain services[113] - The company is strengthening its risk management mechanisms, including macroeconomic and geopolitical risk assessments, to mitigate potential impacts on its global operations[112][115] - The company is enhancing compliance management to address regulatory changes in key markets, ensuring adherence to international trade, investment, and environmental policies[116][117] Environmental and Social Responsibility - The company invested RMB 11.519 billion in environmental protection during the reporting period[125] - The company reduced carbon dioxide equivalent emissions by 944,435 tons through measures such as using clean energy, implementing carbon reduction technologies, and developing new products that aid in carbon reduction[129] - The company established a seawater desalination system to optimize water resource usage, with most of its water supply coming from seawater desalination[126] - The company strictly adhered to international regulations and domestic laws regarding marine environmental protection, including the MARPOL Convention and the Marine Environment Protection Law of the People's Republic of China[128] - The company promoted biodiversity conservation through its ecological and environmental protection management regulations and established an ecological and environmental protection management office to oversee biodiversity protection efforts[128] - The company continued to improve its environmental and energy management systems in accordance with ISO 14001 and ISO 50001 standards, undergoing internal and external audits to enhance its environmental and energy management mechanisms[128] - COSCO Shipping conducted a biofuel pilot project on two vessels, using 2,500.5 tons of biofuel and reducing approximately 1,500 tons of CO2 emissions[131] - OOCL successfully secured a supply of customized B24 biofuel, a blend of recycled cooking oil methyl ester (UCOME) and very low sulfur fuel oil (VLSFO), for its container ships[131] - The company invested RMB 6,146.68 million in poverty alleviation and rural revitalization projects, including RMB 5,333.13 million in funds and RMB 813.55 million in material donations[124] - The company's poverty alleviation and rural revitalization efforts benefited 15,000 people through various forms of assistance such as project support, education support, and consumption support[124] Corporate Governance and Leadership - The company's parent company, China COSCO Shipping, completed a share buyback plan, acquiring 305,087,287 shares for a total of approximately RMB 2.991 billion between May 2022 and May 2023[122] - The company implemented an equity incentive plan, adding 77,663,040 unrestricted A-shares and receiving RMB 77,663,040 from the exercise of options[133] - COSCO Shipping repurchased a total of 214,999,924 shares, including 59,999,924 A-shares and 155,000,000 H-shares, with the A-shares canceled on November 29, 2023, and the H-shares canceled in two tranches on November 17, 2023, and February 29, 2024[133] - As of the end of the reporting period, the total number of ordinary shareholders was 451,743, decreasing to 422,366 by February 29, 2024[134] - China Ocean Shipping Company Limited holds 36.87% of the company's shares, making it the largest shareholder[135] - HKSCC Nominees Limited holds 20.55% of the company's shares, representing a decrease of 41,687,797 shares during the reporting period[135] - The China Ocean Shipping Group directly and indirectly holds 43.62% of the company's total shares as of December 31, 2023[137] - The Industrial and Commercial Bank of China - SSE 50 ETF increased its shareholding by 23,312,627 shares, reaching a total of 73,731,567 shares, representing 0.46% of the company's shares[135] - The total share capital at the beginning of the period was 16,094,861,636 shares, and at the end of the period, it was 16,071,057,752 shares[139] - Guoxin Investment Co., Ltd. became a new top 10 shareholder, holding 470,488,118 shares, accounting for 2.93% of the total shares[141] - China Merchants Bank Co., Ltd. holds 6.24% of the shares in the company's indirect controlling shareholder, China COSCO Shipping Corporation Limited[143] - The controlling shareholder, China Ocean Shipping (Group) Company, holds 71.07% of Orient Overseas (International) Limited and 66.13% of COSCO SHIPPING Ports Limited[142] - The actual controller of the company is the State-owned Assets Supervision and Administration Commission of the State Council, with a 36.87% ownership stake[144] - Chen Yangfan, aged 48, is currently the Vice President and Party Leadership Group Member of China COSCO Shipping Corporation Limited, and also serves as the Executive Director and Vice Chairman of the company, as well as the Executive Director and CEO of Orient Overseas (International) Limited (listed on the Hong Kong Stock Exchange, stock code: 316)[147] - Huang Xiaowen, aged

Financial Performance - For the fiscal year ending December 31, 2023, the company's revenue was RMB 175,447,747,000, a decrease of 55.14% compared to RMB 391,058,497,000 in 2022[1][2]. - The profit attributable to equity holders of the company for 2023 was RMB 23,860,258,000, down 78.27% from RMB 109,792,453,000 in 2022[1][3]. - Basic and diluted earnings per share for 2023 were both RMB 1.48, compared to RMB 6.84 in 2022[3]. - The gross profit for 2023 was RMB 27,587,314,000, significantly lower than RMB 170,477,949,000 in 2022[2]. - Operating profit for 2023 was RMB 24,640,445,000, down from RMB 162,998,834,000 in the previous year[2]. - The total comprehensive income for 2023 was RMB 30,801,178,000, compared to RMB 138,378,172,000 in 2022[4]. - Total revenue for the year ending December 31, 2023, reached RMB 175,447,747 thousand, with external customer revenue contributing RMB 175,447,747 thousand[14]. - The company reported a net profit of RMB 28,395,659 thousand for the year, after tax expenses of RMB 4,681,012 thousand[14]. - The company reported a total segment profit margin of approximately 14.06% for the year[14]. - The company’s total revenue for the previous year (2022) was RMB 393,833,686 thousand, with external revenue of RMB 391,058,497 thousand[21]. Dividends and Shareholder Returns - The board proposed a final dividend of RMB 0.23 per ordinary share for the fiscal year 2023[1]. - The company proposed a cash dividend of RMB 0.23 per share for the year-end 2023, totaling approximately RMB 36.70 billion, which is 50% of the net profit attributable to shareholders for the year[26]. - The company distributed a total cash dividend of approximately RMB 118.66 billion for the fiscal year 2023, maintaining a consistent payout ratio of 50% of net profit[26]. - Proposed cash dividend of RMB 0.23 per share, totaling approximately RMB 3.67 billion, representing 50% of the net profit attributable to shareholders for the year[89]. Assets and Liabilities - Total assets as of December 31, 2023, amounted to RMB 462,429,381,000, a decrease from RMB 511,930,077,000 in 2022[5]. - Total liabilities decreased to RMB 219,209,909 thousand from RMB 258,136,983 thousand, representing a reduction of about 15.06%[6]. - Total equity attributable to equity holders decreased to RMB 16,071,058 thousand from RMB 16,094,862 thousand, a decline of approximately 0.15%[6]. - Current liabilities decreased to RMB 127,326,779 thousand from RMB 159,464,007 thousand, a decline of about 20.19%[6]. - Non-current liabilities decreased to RMB 91,883,130 thousand from RMB 98,672,976 thousand, a reduction of approximately 6.00%[6]. - Cash and cash equivalents decreased to RMB 181,113,316,000 in 2023 from RMB 235,613,923,000 in 2022[5]. - The total outstanding borrowings as of December 31, 2023, were RMB 43,276,918 thousand, with net cash of RMB 137,836,398 thousand, a decrease of RMB 54,969,848 thousand from the previous year-end[64]. Segment Performance - Segment profit for the container shipping business was RMB 22,556,526 thousand, while the terminal business reported a profit of RMB 1,917,702 thousand, leading to a total segment profit of RMB 24,640,445 thousand[14]. - Container shipping business revenue for 2023 was RMB 168,125,772 thousand, down RMB 215,909,781 thousand or 56.22% year-over-year[50]. - Terminal business revenue increased to RMB 10,396,162 thousand, an increase of RMB 598,029 thousand or 6.10% compared to last year[51]. - The company operates in three main segments: container shipping, terminal operations, and corporate and other services[13]. Market and Operational Strategy - The company continues to focus on expanding its container shipping and terminal management services globally[7]. - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency[16]. - The company aims to enhance its global network layout and strengthen port and shipping collaboration to optimize resource allocation and channel networks[47]. - The company plans to actively promote global terminal resource layout, particularly in emerging markets represented by the Regional Comprehensive Economic Partnership (RCEP), and steadily advance port resource deployment in Southeast Asia, Africa, and South America[97]. - The company aims to integrate global shipping routes, end-to-end service networks, and digital information networks to enhance operational efficiency and customer service[94]. Financial Management and Investments - The company has adopted new accounting standards effective from January 1, 2023, which may impact the financial reporting but are not expected to have a significant effect on the consolidated financial statements[10]. - The company reported a net cash outflow from investing activities was RMB 18,350,697 thousand, a reduction of RMB 14,626,090 thousand compared to last year[61]. - The company’s cash reserves and liquidity position remain strong, supporting ongoing operations and potential future investments[35]. - The company has capital commitments for the construction of container ships amounting to RMB 36,821,081 thousand as of December 31, 2023[72]. Sustainability and Innovation - The company plans to accelerate its green low-carbon transformation, with a focus on sustainable development and enhancing its green carrier image[46]. - The company is committed to building a green fleet and exploring new energy fuel supply chains to support its low-carbon transformation[96]. - The company emphasizes innovation-driven development and aims to establish a new model of green transportation that is clean, low-carbon, safe, and efficient[97]. - The company’s digital transformation accelerated, with export volumes for complete vehicles, lithium batteries, photovoltaics, and cross-border e-commerce freight increasing by 146%, 56%, 24%, and 75% respectively[45]. Governance and Compliance - The company has adopted a corporate governance code and has not been aware of any non-compliance with the code during the fiscal year ending December 31, 2023[99]. - The company has established various committees under the board, including the Audit Committee, which consists of three independent non-executive directors[101]. - The annual report for the year ending December 31, 2023, will be published on the Hong Kong Stock Exchange and the company's website[107].

Core Viewpoint - Daiwa maintains a "Buy" rating for China COSCO Shipping Holdings (01919) but has adjusted the earnings per share (EPS) forecast for last year down by 1% due to preliminary performance [1]. Group 1: Earnings Forecasts - EPS forecasts for 2024 and 2025 have been raised by 11% to 17% [1]. - The dividend payout ratio forecast has been increased from 30% to 40% [1]. - The target price has been adjusted from HKD 9.6 to HKD 10 [1]. Group 2: Market Conditions - The management expects a slight decline in freight rates for European routes, while rates for American routes may increase [1]. - The company is in a favorable negotiating position due to ongoing discussions regarding contract rates in the U.S. and unresolved geopolitical issues in the Red Sea, particularly given the fragility of logistics supply chains [1]. - Despite some container shortages in the market, management believes there will be no operational impact and anticipates a quarter-on-quarter improvement in gross margin for the first quarter of this year [1].

FF304 翌日披露報表 (股份發行人 ── 已發行股本變動及/或股份購回) 表格類別： 股票 狀態： 新提交 公司名稱： 中遠海運控股股份有限公司 呈交日期： 2023年12月7日 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | H | 於香港聯交所上市(註11) | 是 | | | | 證券代號 (如於香港聯交所上市) | 01919 | 說明 | | | | | | | 已發行股份佔 | 有關股份發行前的 | 上一個營業日 | 發行價較市值的折讓/ | | | | | | 發行股份 | 每股發行價 | 股份數目 | 現有已發行股份數目 | 的每股收市價 | 溢價幅度(百分比) | (註6及7) | (註1及7) | | 百分比 | (註5) | (註7) | (註4、6及7) | | | | | | 3,313,313,000 | 於下列日期開始時的結存(註2) | 2023年12月6日 | | | | | | | 1). | 購回股份(或其他證券)但沒有註 ...

FF304 如上市發行人的已發行股本出現變動而須根據《香港聯合交易所有限公司證券上市規則》(《主板上市規則》)第13.25A條 / 《香港聯合交易所有限公司GEM證券上市規則》(《GEM上市規則》)第 17.27A條作出披露，必須填妥第一章節 。 第 1 頁 共 5 頁 v 1.2.5 翌日披露報表 (股份發行人 ── 已發行股本變動及/或股份購回) 表格類別： 股票 狀態： 新提交 公司名稱： 中遠海運控股股份有限公司 呈交日期： 2023年12月6日 | 第一章節 | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | | 普通股 | 股份類別 | H | | | 於香港聯交所上市(註11) | 是 | | | | 證券代號 (如於香港聯交所上市) | | 01919 | 說明 | | | | | | | | | 發行股份 | (註6及7) | | 股份數目 | | 已發行股份佔 有關股份發行前的 現有已發行股份數目 百分比 (註4、6及7) | | 每股發行 ...

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2023年11月30日 狀態: 新提交 致：香港交易及結算所有限公司 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 | 01919 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 3,354,780,000 | RMB | | 1 RMB | | 3,354,780,000 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 3,354,780,000 | RMB | | 1 RMB | | 3,354,780,000 | | 2. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市 (註1) | | 否 | | | --- | ...

| 第一章節 | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | | 股份類別 H | | | 於香港聯交所上市(註11) | 是 | | | | 證券代號 (如於香港聯交所上市) | 01919 | | 說明 | | | | | | | | 發行股份 | (註6及7) | | 股份數目 | 已發行股份佔 有關股份發行前的 現有已發行股份數目 百分比 (註4、6及7) | | 每股發行價 (註1及7) | 上一個營業日 的每股收市價 (註5) | 發行價較市值的折讓/ 溢價幅度(百分比) (註7) | | | 於下列日期開始時的結存(註2) 1). | 購回股份(或其他證券)但沒有註銷 | 2023年12月4日 | 3,313,313,000 | | | | | | | | 變動日期 | 2023年11月20日 | | 2,060,000 | 0.0622 | % | | | | % | | 2). | 購回股份(或其他證券)但沒有註銷 | | 1,965,000 ...

FF304 翌日披露報表 (股份發行人 ── 已發行股本變動及/或股份購回) 表格類別： 股票 狀態： 新提交 公司名稱： 中遠海運控股股份有限公司 呈交日期： 2023年12月4日 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | | 普通股 | 股份類別 | H | | 於香港聯交所上市(註11) | 是 | | | 證券代號 (如於香港聯交所上市) | | 01919 | 說明 | | | | | | | 發行股份 | | (註6及7) | 股份數目 | | 已發行股份佔 有關股份發行前的 現有已發行股份數目 百分比 (註4、6及7) | 每股發行價 (註1及7) | 上一個營業日 的每股收市價 (註5) | 發行價較市值的折讓/ 溢價幅度(百分比) (註7) | | 於下列日期開始時的結存(註2) | | 2023年12月1日 | | 3,313,313,000 | | | | | | 1). | 購回股份(或其他證券)但沒有註銷 | | | 2,060,000 | ...