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].

Financial Performance - For the third quarter of 2023, the company's operating revenue was approximately RMB 42.71 billion, representing a year-on-year decrease of 59.61%[3] - The net profit attributable to shareholders for the third quarter was approximately RMB 5.51 billion, down 83.07% compared to the same period last year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses for the third quarter was approximately RMB 5.46 billion, a decrease of 83.12% year-on-year[3] - The cash flow from operating activities for the year-to-date period was approximately RMB 134.56 billion, reflecting a decline of 57.49% compared to the previous year[3] - The company's total assets as of September 30, 2023, were approximately RMB 511.93 billion, a decrease of 6.21% from the end of the previous year[3] - Basic earnings per share for the reporting period decreased by 83.17% due to a decline in container shipping business efficiency[7] - Diluted earnings per share for the reporting period also decreased by 83.17%, reflecting the same challenges in the container shipping sector[7] - The average return on equity decreased by 43.02 percentage points year-to-date, attributed to the decline in container shipping business performance[7] - The group's EBIT for January to September 2023 was RMB 33.23 billion, a decrease of RMB 110.38 billion, representing a 76.86% decline year-on-year[11] - Net profit for the first three quarters of 2023 was RMB 21,564,365 thousand, down RMB 95,275,451 thousand from RMB 116,839,816 thousand in the same period of 2022[19] - Total revenue for the first three quarters of 2023 was approximately ¥134.56 billion, a decrease of 57.5% compared to ¥316.55 billion in the same period of 2022[32] - Net profit for the first three quarters of 2023 was approximately ¥25.99 billion, a decrease of 77.5% compared to ¥115.41 billion in the same period of 2022[33] - Total comprehensive income for the first three quarters of 2023 was approximately ¥29.35 billion, a significant decrease from ¥124.74 billion in the same period of 2022, representing a decline of about 76.5%[35] Container Shipping Business - The company reported a significant decline in container shipping business revenue per box, contributing to the overall decrease in performance[6] - The company indicated that the decrease in freight volume contributed to the decline in operating revenue for the year-to-date period[6] - The average China Containerized Freight Index (CCFI) for the first three quarters of 2023 decreased by 69.54% year-on-year, with a 70.31% decline in the third quarter[7] - The container shipping business handled a freight volume of 17.46 million TEUs from January to September 2023, a decrease of 5.82% compared to the same period last year[12] - Revenue from the Trans-Pacific route in Q3 2023 was RMB 10,270,595 thousand, down 68.16% year-on-year[15] - EBIT for the container shipping business in the first three quarters of 2023 was RMB 27,246,212 thousand, a decrease of RMB 111,009,459 thousand compared to the same period in 2022[19] - The EBIT margin for the container shipping business dropped to 21.08%, a decline of 23.34 percentage points year-on-year[19] - Cumulative revenue for the container shipping business in the first three quarters of 2023 was RMB 129,240,598 thousand, down 58.2% from RMB 311,230,873 thousand in the same period of 2022[19] - Revenue from the Asia-Europe route in Q3 2023 was RMB 7,900,544 thousand, a decrease of 69.09% year-on-year[15] - Cumulative revenue from the container shipping business for the first three quarters of 2023 was RMB 119,004,585 thousand, down 60.03% from RMB 297,717,280 thousand in the same period of 2022[15] - Total throughput for the group's ports reached 10,017.60 million TEUs from January to September 2023, an increase of 2.84% year-over-year[23] Assets and Liabilities - The company's total liabilities as of September 30, 2023, were approximately ¥228.46 billion, down 11.5% from ¥258.14 billion at the end of 2022[30] - Current liabilities totaled approximately ¥134.08 billion as of September 30, 2023, a decrease of 16.0% from ¥159.38 billion at the end of 2022[29] - Non-current liabilities amounted to approximately ¥94.38 billion as of September 30, 2023, down 4.6% from ¥98.75 billion at the end of 2022[30] - The company's total equity as of September 30, 2023, was approximately ¥251.69 billion, a slight decrease from ¥253.79 billion at the end of 2022[31] - As of September 30, 2023, total current assets amounted to CNY 219,886,942,087.52, down from CNY 261,154,129,671.87 at the end of 2022[27] - Non-current assets totaled CNY 260,258,553,673.71 as of September 30, 2023, compared to CNY 250,775,947,579.26 at the end of 2022[28] Cash Flow and Investments - The net cash flow from operating activities for the first three quarters of 2023 was approximately ¥20.52 billion, down from ¥166.46 billion in 2022, indicating a decrease of approximately 87.7%[37] - The net cash flow from investing activities for the first three quarters of 2023 was approximately -¥13.80 billion, worsening from -¥2.68 billion in 2022[38] - The total cash inflow from financing activities for the first three quarters of 2023 was approximately ¥7.30 billion, compared to ¥5.31 billion in 2022, an increase of about 37.0%[38] - The company reported a net cash outflow from financing activities of approximately -¥46.75 billion in 2023, compared to -¥59.01 billion in 2022, indicating an improvement of about 20.7%[38] - The cash received from sales of goods and services in the first three quarters of 2023 was approximately ¥139.39 billion, a decrease from ¥316.36 billion in 2022, representing a decline of about 56.0%[36] Shareholder Actions - The company plans to distribute a cash dividend of RMB 0.51 per share, pending approval at the shareholders' meeting[11] - The company has repurchased 12.43 million A-shares, accounting for 0.0769% of the total share capital, with a total payment of approximately RMB 122.55 million[11] - The company has also repurchased 24.91 million H-shares, representing 0.154% of the total share capital, with a total payment of approximately HKD 206.14 million[11] Research and Development - Research and development expenses for the first three quarters of 2023 were approximately ¥757.18 million, a decrease of 23.6% from ¥991.31 million in the same period of 2022[32] - The company has not disclosed any new product developments or market expansion strategies in this report[1]

Financial Performance - For the first half of 2023, COSCO SHIPPING Holdings reported revenue of RMB 91.84 billion, a decrease of 56.4% compared to RMB 210.79 billion in the same period of 2022[7]. - The net profit attributable to equity holders of the company was RMB 16.56 billion, down 74.6% from RMB 64.82 billion year-on-year[8]. - The average China Containerized Freight Index (CCFI) for the first half of 2023 was 1,009 points, representing a year-on-year decline of 69.3%[9]. - The company's operating profit for the period was RMB 18.13 billion, a decrease of 80.3% from RMB 91.96 billion in the previous year[8]. - EBIT for the reporting period was RMB 24.70 billion, down 73.8% from RMB 93.55 billion in the previous year[8]. - The basic earnings per share decreased to RMB 1.03, down RMB 3.02 from RMB 4.05 in the same period last year[7]. - The profit attributable to equity holders for the first half of 2023 was RMB 16.56 billion, down RMB 48.26 billion or 74.45% year-on-year[14]. - The total revenue for the first half of 2023 was RMB 91,842,797 thousand, a decrease of RMB 118,949,123 thousand or 56.43% compared to the same period last year[16]. - Container shipping business revenue for the first half of 2023 was RMB 88,287,136 thousand, down RMB 118,896,155 thousand or 57.39% year-on-year[17]. - The total revenue for the group decreased by 58.87% year-on-year, amounting to RMB 81,536,315 thousand[54]. Operational Challenges - The company continues to face challenges in the container shipping market due to weakened transportation demand and increased supply from new vessel deliveries[9]. - Revenue from the Trans-Pacific route fell by 68.58% to RMB 20,307,433 thousand compared to the same period last year[54]. - The group reported a decrease of 71.07% in revenue from the Trans-Pacific route in USD, totaling USD 2,914,134 thousand[56]. - The group’s revenue from the Asia-Europe route decreased by 66.18% to RMB 18,469,693 thousand[54]. - The cargo volume for the Asia region, including Australia, decreased by 7.04% year-on-year, totaling 3,784,423 TEUs[51]. - The total cargo volume for the group decreased by 8.63% year-on-year, totaling 11,395,328 TEUs[51]. Strategic Initiatives - The company aims to enhance its global layout, full-chain transportation, digital empowerment, and low-carbon transformation as part of its strategic focus[9]. - The company launched two new 24,000 TEU methanol dual-fuel vessels and plans to deliver the world's first 700 TEU fully electric container ship within the year[12]. - The company has successfully opened multiple new routes along the "Belt and Road" and RCEP member countries, enhancing its global shipping network[10]. - The digital supply chain platform has introduced a "one-stop" customer login portal and launched various digital supply chain products to meet diverse customer needs[12]. - The company is actively participating in the construction of low-carbon ports and has initiated projects for automated container terminals and distributed photovoltaic systems[12]. - The company aims to provide low-carbon, intelligent, and reliable container supply chain solutions in response to increasing customer demands for decarbonization and digitalization[13]. - The company is focused on enhancing operational efficiency and cost control to strengthen its core business capabilities and resilience in a challenging environment[13]. Financial Position - The debt-to-asset ratio improved to 48.6% by the end of the reporting period, indicating a stronger financial structure[9]. - The company's total assets amounted to RMB 482,926,939 thousand, a decrease from RMB 511,930,077 thousand as of December 31, 2022[116]. - The total liabilities of the group as of June 30, 2023, were RMB 234,500,953 thousand, down by RMB 23,636,030 thousand or 9.16% from the end of the previous year[36]. - The total outstanding borrowings of the group as of June 30, 2023, were RMB 42,879,890 thousand, with net cash amounting to RMB 155,346,377 thousand, a decrease of RMB 37,459,869 thousand compared to the end of the previous year[36]. - The net cash flow from operating activities was RMB 13,261,606 thousand, a decrease of RMB 99,309,947 thousand or 88.22% year-on-year[31]. - The company's cash and cash equivalents totaled RMB 198,226,267 thousand, a decrease of RMB 37,387,656 thousand or 15.87% from the end of the previous year[30]. Dividend and Shareholder Information - The board proposed an interim dividend of RMB 0.51 per share, with a payout ratio of approximately 50%[9]. - The company plans to distribute a cash dividend of RMB 0.51 per share, totaling approximately RMB 8.247 billion, which represents 50% of the net profit attributable to shareholders for the first half of 2023[18]. - As of June 30, 2023, the major shareholder, China Ocean Shipping Company, holds approximately 36.64% of the total issued share capital in A shares[107]. - The total number of shares held by the major shareholders amounts to approximately 6,304,873,037, representing about 38.99% of the total issued share capital[107]. Stock Options and Incentive Plans - The stock option incentive plan approved on December 3, 2018, allows for a total of up to 218,236,900 A-shares to be granted, representing about 2.25% of the company's A-share capital as of June 30, 2020[73]. - The first batch of stock options granted on June 3, 2019, totaled 192,291,000 options with an exercise price of RMB 4.10 per A-share, while the closing price on that day was RMB 4.82[74]. - The company has a total of 10,022,784 stock options remain unexercised, with 75,392,302 options exercised during the reporting period[81]. - The company’s stock options are subject to performance targets, including achieving an economic value added (EVA) target for 2022[87]. - The stock option plan aims to create a performance-oriented culture that enhances shareholder value and aligns the interests of shareholders and management[92]. Corporate Governance and Investor Relations - The audit committee has reviewed the unaudited interim financial information for the reporting period and recommended its adoption by the board[109]. - The company maintains high standards of corporate governance, which is considered essential for operational success and enhancing shareholder value[110]. - In the first half of 2023, the company held 84 investor meetings, engaging with 411 investors through various communication channels[114]. - The company actively collects market feedback to inform senior management decisions, reflecting its responsiveness to investor concerns[114].

Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 91,842,797 thousand, a decrease of 56.4% compared to RMB 210,791,920 thousand for the same period in 2022[2]. - Profit attributable to equity holders of the company was RMB 16,560,637 thousand, down 74.5% from RMB 64,820,236 thousand in the previous year[2]. - Basic earnings per share decreased to RMB 1.03 from RMB 4.05, representing a decline of 74.7%[2]. - Gross profit for the period was RMB 19,781,035 thousand, down 79.8% from RMB 98,040,285 thousand in the same period last year[4]. - Total comprehensive income for the period was RMB 24,177,186 thousand, a decrease of 70.0% compared to RMB 80,616,225 thousand in 2022[5]. - The profit before tax for the period was RMB 22,932,751 thousand, with a net profit of RMB 19,675,781 thousand after tax expenses of RMB 3,256,970 thousand[16]. - The company reported a net profit attributable to equity holders of RMB 16,560,637,000 for the first half of 2023, down from RMB 64,820,236,000 in the same period of 2022[30]. - Operating profit for the period was RMB 18.13 billion, down from RMB 91.96 billion in the previous year, representing a decrease of about 80.3%[40]. - The net profit attributable to shareholders was RMB 16.56 billion, a significant drop of RMB 48.26 billion from RMB 64.82 billion in the same period last year, marking a decline of approximately 74.4%[40]. Dividends - The board recommended an interim dividend of RMB 0.51 per ordinary share, including tax[2]. - The company plans to distribute a cash dividend of RMB 0.51 per share, totaling approximately RMB 8.247 billion, which is 50% of the net profit attributable to shareholders for the first half of 2023[29]. - The company plans to distribute an interim dividend of RMB 0.51 per ordinary share (before tax) on August 29, 2023[39]. - The board proposed an interim dividend of RMB 0.51 per share, subject to shareholder approval[94]. Assets and Liabilities - Total assets as of June 30, 2023, amounted to RMB 482,926,939 thousand, down from RMB 511,930,077 thousand as of December 31, 2022[6]. - Current assets decreased to RMB 220,595,102 thousand from RMB 261,143,003 thousand, reflecting a decline of 15.5%[6]. - The total liabilities decreased to RMB 234,500,953 from RMB 258,136,983 year-over-year[7]. - The total assets minus current liabilities stood at RMB 346,772,347, slightly down from RMB 352,466,070 in the previous year[7]. - The total reserves decreased to RMB 182,509,459 from RMB 184,495,805 year-over-year[7]. - Current liabilities totaled RMB 136,154,592, down from RMB 159,464,007 in the previous year[7]. - Non-current liabilities totaled RMB 98,346,361, a slight decrease from RMB 98,672,976 year-over-year[7]. - The company reported a net current asset value of RMB 84,440,510, down from RMB 101,678,996 as of December 31, 2022[7]. - The company’s total equity and liabilities amounted to RMB 482,926,939, down from RMB 511,930,077 year-over-year[7]. - The company’s non-controlling interests decreased to RMB 49,746,273 from RMB 53,202,427 year-over-year[7]. - The total outstanding borrowings as of June 30, 2023, were RMB 42,879,890 thousand, resulting in net cash of RMB 155,346,377 thousand, a decrease of RMB 37,459,869 thousand from the end of the previous year[63]. - The net current assets as of June 30, 2023, were RMB 84,440,510 thousand, a decrease of 16.95% from the end of the previous year[63]. - The ratio of net cash (debt) to equity as of June 30, 2023, was 43.65%, a decrease of 12.26 percentage points from the end of the previous year[63]. Financial Income and Expenses - Financial income for the period was RMB 4,178,631 thousand, an increase of 85.0% compared to RMB 2,255,555 thousand in the previous year[4]. - The company reported a net financial income of RMB 2,351,978 thousand, significantly up from RMB 422,455 thousand in the same period last year[4]. - The company’s total financial expenses for the first half of 2023 were RMB 1,826,653, slightly down from RMB 1,833,100 in the same period of 2022[26]. - The company reported a foreign exchange gain of RMB 1,914,851 for the first half of 2023, compared to RMB 128,954 in the previous year[25]. - The net amount of other income and expenses was RMB 2,253,663 thousand, an increase of RMB 1,365,809 thousand or 153.83% year-on-year[52]. - The company’s income tax expense for the first half of 2023 was RMB 3,256,970 thousand, a significant decrease of RMB 13,511,630 thousand or 80.58% compared to the previous year[57]. Operational Highlights - The company completed acquisitions in the second half of 2022, including an 81% stake in Shanghai Tianhongli Asset Management for RMB 2.283 billion and full ownership of Shanghai Haizhenlan Industrial for RMB 1.191 billion[8]. - The company achieved a supply chain revenue of RMB 14.5 billion, accounting for 16.4% of the container shipping business revenue, an increase of 8.2 percentage points year-on-year[42]. - The company has successfully delivered two new 24,000 TEU vessels and expanded its fleet to approximately 2.91 million TEU, enhancing its global service network[42]. - The company is focusing on low-carbon transformation, with 12 new dual-fuel methanol vessels under construction and plans to deliver the world's first 700 TEU fully electric container ship within the year[43]. - The company is actively participating in the construction of automated terminals and promoting green low-carbon port initiatives, including the implementation of shore power and "oil-to-electric" upgrades for terminal equipment[43]. - The company anticipates opportunities from the steady recovery of the Chinese economy and the rebound of freight rates on major routes in Europe and the United States, while remaining vigilant about global economic changes and inflation pressures[43]. Customer and Market Insights - Revenue from the container shipping business is derived from major global trade routes, including trans-Pacific and Asia-Europe routes[19]. - The company operates in various regions, with revenue from terminal operations reported based on the geographical location of the business[20]. - The Americas region generated RMB 20,731,694 in revenue, while Europe and Asia-Pacific contributed RMB 19,761,546 and RMB 23,602,837, respectively[21]. - The average China Containerized Freight Index (CCFI) for the first half of 2023 was 1,009 points, down 69.3% year-on-year, indicating weakened transportation demand[41]. - The revenue from the Trans-Pacific route plummeted by 68.58% to RMB 20,307,433 thousand compared to the same period last year[78]. - The total revenue from the Asia-Europe route, including the Mediterranean, fell by 66.18% to RMB 18,469,693 thousand[78]. - The revenue from the domestic China route decreased by 7.98% to RMB 5,719,036 thousand compared to the previous year[78]. Corporate Governance and Compliance - The company has established an audit committee to oversee financial reporting and internal controls[89]. - The company remains committed to high standards of corporate governance and has adopted relevant codes and practices[90]. - The company emphasizes the importance of corporate governance as per the listing rules[97]. - The company is committed to digital transformation and seamless cooperation among global trade participants through the Global Shipping Business Network (GSBN)[98]. Technological Advancements - The company has launched a paperless release solution based on blockchain technology, reducing the release time of cargo documents from several days to a few hours, currently serving over 10,000 customers[98]. - The company has deployed its blockchain-based solutions in regions including China, Southeast Asia, Europe, and recently Latin America[98]. Investments and Commitments - The group’s investment in joint ventures and associates as of June 30, 2023, was RMB 65,226,505 thousand, an increase of 12.33% compared to the end of the previous year[72]. - The group completed the purchase of a 5.81% stake in COFCO Fortune Land Development Co., Ltd. for RMB 5.5 billion and a 24.99% stake in Hamburg Container Terminal for €0.4641 billion during the reporting period[72]. - As of June 30, 2023, the group had capital commitments for building container ships amounting to RMB 41,926,709 thousand[69]. - The group had unused bank loan credit facilities of RMB 38,208,882 thousand as of June 30, 2023[70].

Financial Performance - Operating revenue for Q1 2023 was CNY 47.35 billion, a decrease of 55.13% compared to CNY 105.53 billion in the same period last year[3] - Net profit attributable to shareholders was CNY 7.13 billion, down 74.20% from CNY 27.62 billion year-on-year[3] - Basic earnings per share fell to CNY 0.44, a decline of 74.57% compared to CNY 1.72 in the previous year[3] - The company's EBIT for Q1 2023 is RMB 10.727 billion, a decrease of RMB 29.807 billion, representing a decline of 73.54% year-on-year[8] - Total revenue for Q1 2023 is RMB 42.303 billion, a decline of 57.40% compared to the previous year[12] - Total operating revenue for Q1 2023 was CNY 47.35 billion, a decrease of 55.2% compared to CNY 105.53 billion in Q1 2022[28] - Net profit for Q1 2023 was CNY 8.58 billion, a decline of 73.7% compared to CNY 32.57 billion in Q1 2022[29] - Total revenue from the container shipping business was RMB 45,700,657,000, a decrease of 58,152,198,000 compared to the same period last year[16] - The net profit for the container shipping business was RMB 7,586,247,000, a decrease of RMB 25,538,492,000 compared to the previous year[16] - Total comprehensive income for Q1 2023 was approximately ¥6.91 billion, a significant decrease from ¥32.03 billion in Q1 2022, representing an 78.4% decline[32] Cash Flow and Liquidity - Net cash flow from operating activities decreased by 90.16%, from CNY 62.53 billion to CNY 6.15 billion[3] - Cash inflow from operating activities in Q1 2023 was approximately ¥52.78 billion, down from ¥106.39 billion in Q1 2022, a decrease of 50.5%[34] - Cash outflow from operating activities in Q1 2023 was approximately ¥46.62 billion, compared to ¥43.85 billion in Q1 2022, an increase of 6.3%[35] - Net cash flow from operating activities for Q1 2023 was approximately ¥6.15 billion, a significant drop from ¥62.54 billion in Q1 2022, representing a decline of 90.2%[35] - The ending cash and cash equivalents balance as of Q1 2023 was approximately ¥222.31 billion, down from ¥236.14 billion at the end of Q1 2022, a decrease of 5.9%[37] - The company reported a significant increase in tax payments, with cash outflow for taxes in Q1 2023 amounting to approximately ¥8.88 billion, compared to ¥1.85 billion in Q1 2022, an increase of 380.5%[35] - The cash flow from investing activities showed a net outflow of -5,304,309,987.02 RMB in Q1 2023, with investment payments amounting to 5,301,109,987.02 RMB[48] - The net cash flow from financing activities was -228,774,817.10 RMB in Q1 2023, contrasting with a positive flow of 186,070.50 RMB in Q1 2022[49] - The net increase in cash and cash equivalents was -6,375,081,523.07 RMB in Q1 2023, compared to -117,833,411.57 RMB in Q1 2022, indicating a significant deterioration in liquidity[49] Operational Metrics - The average China Containerized Freight Index (CCFI) dropped by 68.45% year-on-year, impacting revenue from container shipping[5] - The total cargo volume for Q1 2023 is 5,452,920 TEUs, a decrease of 11.50% compared to the same period last year[10] - Revenue from the Trans-Pacific route for Q1 2023 is RMB 10.342 billion, down 65.83% year-on-year[12] - The Asia-Europe route revenue decreased by 66.71% year-on-year, totaling RMB 9.721 billion in Q1 2023[12] - The cargo volume on the Trans-Pacific route decreased by 18.83% year-on-year, totaling 984,530 TEUs in Q1 2023[10] - The total throughput of the group's ports reached 30,305,420 TEUs, a slight increase of 0.05% year-on-year[20] - The total container shipping fleet consists of 475 vessels with a capacity of 2.8934 million TEUs as of March 31, 2023[9] Assets and Liabilities - Total assets at the end of Q1 2023 were CNY 500.96 billion, a decrease of 2.14% from CNY 511.78 billion at the end of the previous year[3] - The company's total liabilities decreased to CNY 240.92 billion as of March 31, 2023, down 6.7% from CNY 258.14 billion at the end of 2022[26] - Current liabilities totaled CNY 144.03 billion, a reduction of 9.6% from CNY 159.38 billion at the end of 2022[25] - Non-current liabilities amounted to CNY 96.88 billion, down 1.8% from CNY 98.75 billion at the end of 2022[26] - The company's total equity increased to CNY 260.04 billion as of March 31, 2023, up 2.5% from CNY 253.79 billion at the end of 2022[27] Shareholder Information - As of the end of the reporting period, the total number of ordinary shareholders is 562,671, with the top ten shareholders holding a combined 42.59% of the total share capital[6][7] - The equity attributable to shareholders increased by 3.01% to CNY 206.62 billion from CNY 200.59 billion[3] Research and Development - Research and development expenses for Q1 2023 were CNY 209.78 million, an increase of 28.8% compared to CNY 162.76 million in Q1 2022[28] Investment Income - The company reported investment income of CNY 1.09 billion in Q1 2023, up 78.7% from CNY 612.87 million in Q1 2022[29] - The investment income for Q1 2023 was CNY 595,393,448.48, reflecting strong performance in this area[42] Accounting Standards - The company has adopted new accounting standards starting in 2023, which may impact future financial reporting[50]

Dividends and Financial Performance - COSCO SHIPPING Holdings announced a final dividend of RMB 1.39 per share for the year 2022, subject to shareholder approval[2]. - COSCO SHIPPING Holdings announced a cash dividend of RMB 2.01 per share for 2022, with a future dividend payout plan indicating that 30%-50% of the annual net profit attributable to shareholders will be distributed as dividends from 2022 to 2024[13]. - The company plans to distribute a total cash dividend of RMB 54.722 billion for 2022, which is approximately 50% of the net profit attributable to shareholders[24]. - The proposed cash dividend for the year-end 2022 is RMB 1.39 per share, totaling RMB 22.372 billion based on the total share capital of 16,094,861,636 shares, which represents approximately 50% of the net profit attributable to shareholders for 2022[104]. - The total cash dividends distributed for the year 2022, including the interim dividend, amount to RMB 54.722 billion, compared to RMB 13.933 billion for the year-end 2021[126]. - The company achieved a revenue of RMB 333.69 billion in 2021, ranking 37th in the 2022 Fortune China 500 list, an increase of 31 places from the previous year[14]. - The company's revenue for the year 2022 reached RMB 391,058,497 thousand, an increase of RMB 57,364,554 thousand, representing a growth rate of 17.19% compared to 2021[40]. - The profit attributable to equity holders of the company for continuing operations was RMB 109,684,166 thousand, an increase of RMB 20,335,218 thousand, with a growth rate of 22.76% compared to the previous year[40]. - The company reported an EBITDA of 191.26 billion RMB for 2022, an increase of 32.2% compared to 144.67 billion RMB in 2021[156]. - The net profit for the group rose to RMB 136,708,001,000, reflecting a significant increase compared to RMB 107,044,342,000 from the previous year[95]. Operational Developments - The company upgraded 8 shipping routes and added 3 new routes, totaling 42 routes with a fleet of 352 vessels and a capacity of 4.43 million TEU[12]. - The company launched a dedicated water transport service for supplies to Hong Kong, establishing a "lifeline" for epidemic prevention[12]. - COSCO SHIPPING Holdings received approval for the eBL electronic bill of lading system based on the GSBN blockchain platform, enabling large-scale application[12]. - The company signed a share transfer agreement for a 13.46% stake in COSCO SHIPPING Logistics for RMB 1.217 billion, enhancing its supply chain capabilities[18]. - The company launched the "MY REEFER" digital solution for cold chain management, enhancing visibility and control for customers[21]. - The company introduced a digital supply chain logistics platform, marking a significant step in its digital transformation efforts[21]. - The company launched new shipping routes in collaboration with the Ocean Alliance, enhancing service advantages on major trade lanes[25]. - The company completed a cargo volume of 7.5 million TEUs on third-country routes, reflecting its commitment to expanding international market presence[25]. - The company is advancing its digital transformation by optimizing supply chain services and launching the "Talent Pegasus" product[28]. - The company is constructing 12 methanol dual-fuel container ships to enhance its green fleet and sustainability efforts[29]. Sustainability and Environmental Initiatives - The company was included in several sustainability indices, reflecting its commitment to sustainable development practices[13]. - The company is committed to green transformation and sustainable development in the shipping industry, focusing on energy-saving technologies and green fuel research[106]. - The company has invested RMB 3.39 billion in environmental protection during the reporting period[135]. - 86% of the company's controlled terminals have obtained ISO 14001 environmental management system certification[137]. - The company has implemented a "oil-to-electric" conversion with a completion rate of 97.7% for its controlled terminals[140]. - The company aims to promote green methanol fuel as the preferred choice for its new energy container fleet[137]. - The company has established a comprehensive climate risk governance framework, integrating climate-related risk management into its overall risk management system[135]. - The company has developed a dynamic carbon emissions calculator to assist global customers in calculating their supply chain CO2 emissions[140]. Market Position and Strategy - The company maintained its leading position in the global container shipping market, with its fleet capacity ranking among the top tier in the industry according to Alphaliner data[76]. - The company emphasizes a global strategy, actively expanding into emerging markets and maintaining a balanced global layout to enhance profitability[85]. - The company aims to enhance its global carrier layout, focusing on optimizing mainline routes in Europe and America, with a total of 41 routes and a capacity of 4.62 million TEU as of December 2022[111]. - The company is focusing on integrating digital technologies with supply chain operations to enhance service resilience and competitiveness in the logistics sector[106]. - The company is expanding its global shipping network and digital information network to create a comprehensive service ecosystem in the container shipping sector[109]. - The company plans to enhance its comprehensive competitiveness in the container shipping and port operation sectors through strategic and business synergies, focusing on high-quality development[109]. Risk Management and Governance - The company emphasized the importance of risk awareness in its forward-looking statements, urging investors to consider investment risks[3]. - The company faces risks from slow global economic recovery and geopolitical tensions, which may impact logistics demand[116]. - The company is implementing strategies to monitor macroeconomic trends and enhance market sensitivity to mitigate risks[117]. - The company has established a communication and collaboration platform to improve planning and foresight in operations[195]. - The company has implemented a robust internal control management system to clarify responsibilities and improve risk management processes[195]. - The company has adopted its own corporate governance code, aligning with best practices and regulatory requirements[197]. - The company has maintained a commitment to best governance practices, with no reported violations of the corporate governance code during the reporting period[197]. Shareholder Information - As of March 10, 2023, China COSCO Shipping Group holds a total of 6,855,441,897 shares, representing approximately 42.59% of the total issued share capital[131]. - The cumulative amount of shares purchased by China COSCO Shipping Group from October 2021 to March 2023 is approximately RMB 16.77 billion[131]. - The total number of ordinary shareholders as of the end of the reporting period was 578,035[142]. - The major shareholder, China Ocean Shipping Company, is involved in international shipping and related services, indicating a focus on maritime logistics[147]. - The top ten shareholders include several state-owned enterprises, indicating a strong presence of state ownership in the company[146]. Future Outlook and Growth Plans - The company provided a positive outlook for 2023, projecting a revenue growth of 12% to 15% based on current market trends and demand forecasts[179]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share by 2025[165]. - The company is considering strategic acquisitions to bolster its supply chain, with a budget of 1 billion RMB allocated for potential mergers and acquisitions in 2023[183]. - The company aims to enhance operational efficiency, projecting a 10% reduction in operational costs by implementing new management strategies[161]. - New product launches are expected to contribute an additional 1 billion RMB in revenue, with three major products set to be released in Q2 2023[180].

Financial Performance - For the year ended December 31, 2022, COSCO SHIPPING Holdings reported revenue of RMB 391,058,497,000, an increase of RMB 57,364,554,000 or 17.19% compared to 2021[1]. - The profit attributable to equity holders of the company for the same period was RMB 109,684,166,000, reflecting an increase of RMB 20,335,218,000 or 22.76% year-over-year[1]. - Basic and diluted earnings per share for 2022 were RMB 6.83 and RMB 6.78, respectively, compared to RMB 5.59 and RMB 5.56 in 2021[3]. - Operating profit for the year was RMB 162,998,834,000, up from RMB 128,346,320,000 in 2021[2]. - Total comprehensive income for the year was RMB 138,254,449,000, compared to RMB 101,955,902,000 in the previous year[4]. - The company reported a net profit of RMB 131,417,156 thousand for the year, compared to RMB 103,905,361 thousand in the previous year, indicating a year-over-year increase of approximately 26.4%[12][13]. - The company’s effective tax rate was approximately 21.4%, with income tax expenses totaling RMB 35,758,814 thousand for the year[12]. - The income tax expense for 2022 was RMB 35,758,814, compared to RMB 24,101,179 in 2021, reflecting the company's increased profitability[22]. Assets and Liabilities - Non-current assets totaled RMB 250,636,711,000 as of December 31, 2022, an increase from RMB 211,153,620,000 in 2021[5]. - Current assets amounted to RMB 261,143,003,000, compared to RMB 203,121,502,000 in the previous year[5]. - The total assets of the company reached RMB 511,779,714,000, up from RMB 414,275,122,000 in 2021[5]. - Total liabilities rose to RMB 258,256,246 thousand in 2022, compared to RMB 234,815,076 thousand in 2021, marking an increase of 10%[6]. - Non-current liabilities decreased to RMB 98,792,239 thousand in 2022 from RMB 113,449,542 thousand in 2021, a reduction of 13%[6]. - Current liabilities increased to RMB 159,464,007 thousand in 2022, compared to RMB 121,365,534 thousand in 2021, reflecting a rise of 31.4%[6]. - The net current assets increased to RMB 101,678,996 thousand in 2022 from RMB 81,755,968 thousand in 2021, indicating a rise of 24.4%[6]. Dividends - The board proposed a final dividend of RMB 1.39 per share for the year 2022[1]. - The company proposed a cash dividend of RMB 1.39 per share, totaling RMB 22.372 billion for the year-end distribution, which is approximately 50% of the net profit attributable to shareholders for 2022[24]. - The company distributed a total of RMB 54.722 billion in cash dividends for the year 2022, combining both the year-end and mid-year distributions[24]. Segment Performance - The profit from the container shipping segment was RMB 160,426,816 thousand, while the terminal business generated a profit of RMB 1,779,797 thousand, contributing to a total segment profit of RMB 162,998,834 thousand[12]. - Total revenue for the container shipping business reached RMB 384,035,553, with external revenue of RMB 383,993,233 for the year ended December 31, 2022[16]. - Revenue from the Americas region was RMB 115,007,179, while Europe generated RMB 100,760,668, and the Asia-Pacific region contributed RMB 92,876,196 for the same period[16]. - The total revenue for the terminal operations was RMB 9,798,133, with external revenue of RMB 7,065,264, indicating a significant contribution from the China region[16]. Investments and Acquisitions - The company completed acquisitions totaling RMB 22.83 billion for an 81% stake in Shanghai Tianhongli Asset Management and RMB 11.91 billion for 100% of Shanghai Haizhenlan Industrial[7]. - The group has a capital commitment of RMB 43,275,007 thousand for the construction of 44 container ships as of December 31, 2022[70]. - The group has entered into shipbuilding agreements for 12 methanol dual-fuel container ships at a total price of approximately RMB 206.3612 billion[74]. Operational Strategies - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency and customer service[12]. - The company plans to maintain stable growth in container fleet capacity and optimize global route networks while expanding into emerging and regional markets[44]. - The company aims to enhance digital supply chain construction by providing intelligent and visualized container services, replicating successful models from the home appliance and automotive industries[44]. - The company is focusing on green transformation and sustainable development, investing in energy-saving technologies and green fuel research[98]. Risk Management and Compliance - The company is enhancing its risk management mechanisms to ensure stable development amid a complex external environment[42]. - The company has adopted the standard code of conduct for securities trading by directors since its listing on the Hong Kong Stock Exchange in 2005, confirming compliance as of December 31, 2022[109]. - The Audit Committee, established in April 2005, consists of three independent non-executive directors, ensuring the capability to understand and review financial reports[110]. Market Trends and Future Outlook - The container shipping market is experiencing accelerated development and transformation due to challenges in global trade and supply chains[98]. - The integration of logistics supply chains is becoming crucial for enhancing service resilience and market competitiveness in the shipping industry[98]. - The Regional Comprehensive Economic Partnership (RCEP) is expected to drive over 10% export growth for member countries, presenting new opportunities for the port industry[99]. - In 2023, the company plans to optimize its global carrier layout, strengthening its presence in key routes, particularly in Europe and North America, with a total of 41 routes and a capacity of 4.62 million TEUs announced on December 7, 2022[101][102].

Financial Performance - The total revenue for the third quarter of 2022 was approximately RMB 231.48 billion, representing a year-on-year increase of 14.68%[3] - The net profit attributable to shareholders for the same period was approximately RMB 92.21 billion, with a year-on-year increase of 6.42%[3] - Operating revenue increased by 36.75% year-to-date, driven by a significant rise in container shipping line revenue per box despite a decline in cargo volume[5] - Net profit attributable to shareholders rose by 43.74% year-to-date, supported by substantial growth in container shipping and stable growth in terminal operations[5] - Basic earnings per share increased by 42.92% year-to-date, reflecting improved profitability in the container shipping business[5] - Total revenue for the group in the first three quarters of 2022 was RMB 311,217,016 thousand, up from RMB 227,173,039 thousand in the same period of 2021, representing an increase of 36.94%[18] - EBIT for the group in the first three quarters of 2022 was RMB 138,254,569 thousand, reflecting a year-on-year increase of 48.83%[18] - Net profit for the first nine months of 2022 was RMB 61.04 billion, up 32.9% from RMB 45.91 billion in 2021[19] - The total comprehensive income for the first three quarters of 2022 reached RMB 124.56 billion, a significant increase from RMB 77.28 billion in the same period of 2021, representing a growth of approximately 61%[33] Cash Flow and Liquidity - The cash flow from operating activities for the quarter was RMB 105.76 billion, indicating a strong liquidity position[3] - Net cash flow from operating activities for the first three quarters of 2022 was RMB 166.44 billion, compared to RMB 113.98 billion in 2021, reflecting an increase of about 46%[35] - Cash and cash equivalents at the end of the third quarter of 2022 totaled RMB 296.17 billion, compared to RMB 144.61 billion at the end of the same period in 2021, marking an increase of about 105%[38] - The company reported a net cash outflow from investing activities of RMB 2.68 billion for the first three quarters of 2022, an improvement from a net outflow of RMB 5.33 billion in 2021[37] - Cash inflow from financing activities in the first three quarters of 2022 was RMB 5.31 billion, down from RMB 8.96 billion in the same period of 2021, reflecting a decrease of approximately 41%[38] Assets and Liabilities - The total assets of the company at the end of the reporting period were approximately RMB 549.70 billion, reflecting a solid asset base[3] - The company's total liabilities as of September 30, 2022, amounted to RMB 275.33 billion, an increase of 17.3% from RMB 234.82 billion at the end of 2021[29] - Total current assets as of September 30, 2022, amounted to RMB 324.78 billion, compared to RMB 203.03 billion at the end of 2021[25] - Non-current assets totaled RMB 224.91 billion as of September 30, 2022, up from RMB 211.24 billion at the end of 2021[26] - The total equity of the company as of September 30, 2022, was RMB 112.14 billion, up from RMB 89.31 billion in the previous year, representing an increase of around 25.6%[41] Operational Highlights - The company has plans for market expansion and new product development, although specific details were not disclosed in the report[2] - The company emphasized the importance of maintaining accurate and complete financial reporting, ensuring compliance with regulatory standards[1] - The board of directors confirmed that the financial statements were not audited, highlighting the preliminary nature of the reported figures[2] - The fleet consisted of 503 container ships with a total capacity of 2,910,492 TEUs as of the end of September 2022[11] - Total container throughput for the group in Q3 2022 was 6,062,807 TEUs, a decrease of 8.23% compared to Q3 2021[12] Revenue Breakdown - Revenue from the Trans-Pacific route in Q3 2022 reached RMB 32,256,657 thousand, an increase of 28.77% year-on-year[14] - Revenue from the Asia region (including Australia) in Q3 2022 was RMB 24,349,049 thousand, an increase of 30.88% compared to Q3 2021[14] - Revenue from the China mainland route in Q3 2022 was RMB 2,996,010 thousand, a decrease of 7.04% year-on-year[14] - Container shipping revenue for the first nine months of 2022 reached RMB 207.70 billion, a year-on-year increase of 34.6% from RMB 154.35 billion in 2021[19] Investment and R&D - Research and development expenses for the first three quarters of 2022 were ¥991.31 million, a 47.3% increase from ¥673.34 million in 2021[30] - The group plans to continue expanding its market presence and enhancing operational efficiency through strategic investments and acquisitions[22]

Financial Performance - For the six months ended June 30, 2022, the company reported revenue of RMB 210.78 billion, a 51.3% increase from RMB 139.26 billion in the same period of 2021[6]. - The profit attributable to equity holders of the company was RMB 64.71 billion, up 74.4% from RMB 37.10 billion year-on-year[6]. - Basic earnings per share increased to RMB 4.04, compared to RMB 2.33 in the previous year, reflecting a growth of 73%[6]. - The company's operating profit reached RMB 91.93 billion, a significant increase of 91.3% from RMB 48.06 billion in the prior year[7]. - The total profit before tax was RMB 93.52 billion, representing a year-on-year growth of 95.8%[7]. - The company achieved an EBIT of RMB 95.29 billion, a 92.2% increase compared to the previous year, maintaining a leading position in the industry[8]. - The company achieved a revenue of RMB 210,784,853 thousand in the first half of 2022, an increase of RMB 71,520,506 thousand, representing a growth of 51.36% compared to the same period last year[15]. - Container shipping business revenue reached RMB 207,176,224 thousand, up RMB 70,738,592 thousand, with a growth rate of 51.85%[16]. - The company reported a net profit attributable to equity holders of RMB 64,711,625 thousand, an increase of RMB 27,613,782 thousand, reflecting a growth of 74.44% year-on-year[15]. - Operating costs amounted to RMB 112,738,319 thousand, an increase of RMB 26,601,945 thousand, with a growth rate of 30.88% compared to the previous year[21]. - The first half of 2022 saw a significant increase in financial income, reaching RMB 2,250,064 thousand, a rise of 599.57% compared to the previous year[13]. - The company reported a significant increase in cash and cash equivalents, reaching RMB 247,150,892 thousand, compared to RMB 177,946,969 thousand in the previous year, an increase of about 38.9%[128]. - The company reported a profit of RMB 76,669,960 thousand for the six months ended June 30, 2022, compared to RMB 42,870,414 thousand for the same period in 2021, representing an increase of approximately 79%[130]. - The company’s total equity as of June 30, 2022, was RMB 240,631,857 thousand, up from RMB 178,860,542 thousand at the beginning of the year, representing an increase of approximately 34%[131]. Financial Structure and Management - The debt-to-asset ratio improved to 51.48%, a decrease of 5.28 percentage points from the end of the previous year, indicating a stronger financial foundation[8]. - Cash and cash equivalents at the end of the reporting period amounted to RMB 247.15 billion, an increase of RMB 69.20 billion from the previous year-end[8]. - The company continues to optimize its financial structure and enhance its operational capabilities in response to market changes[7]. - The company is focusing on enhancing operational efficiency and risk management capabilities, which have significantly improved its resilience against external pressures[11]. - The company plans to enhance debt management and improve capital efficiency in response to potential risks from expanding financing scales[49]. - The company’s total borrowings amounted to RMB 3,434,356 thousand, down from RMB 4,545,618 thousand in the previous year, indicating a reduction in reliance on debt financing[134]. - The company’s long-term borrowings amounted to RMB 50,086,012 thousand, a decrease of 30.2% from RMB 71,678,036 thousand as of December 31, 2021[175]. - The company’s total liabilities decreased from RMB 88,841,181 thousand as of January 1, 2021, to RMB 50,086,012 thousand as of June 30, 2022[176]. Dividends and Shareholder Returns - The board proposed a mid-year dividend of RMB 2.01 per share, totaling approximately RMB 32.344 billion, which accounts for 50% of the net profit attributable to shareholders for the first half of 2022[9]. - The company plans to distribute a total cash dividend of 30%-50% of the net profit attributable to shareholders for the years 2022 to 2024, ensuring stable returns for investors[9]. - The proposed interim dividend per ordinary share is RMB 2.01, based on the year-end dividend of RMB 13,933,055,000 for the year ended December 31, 2021[197]. Operational Developments - The company achieved a 38.3% year-on-year increase in cargo volume for the China-Europe land-sea express line during the first half of 2022[9]. - The external trade e-commerce platform (SynCon Hub) saw a 48% year-on-year increase in transaction box volume, with continuous growth in end-to-end box volume and registered SMEs[10]. - The company upgraded its digital logistics operations, implementing full-process EDI connections between shipping companies and cargo owners for billing, reconciliation, invoicing, and payment[9]. - The company is advancing green low-carbon development, having completed the shore power transformation for 44 vessels as part of its energy efficiency management plan[10]. - The company is actively participating in the Global Shipping Business Network (GSBN) to simplify trade processes and enhance customer experience[9]. - The company has established a new upgraded DAY6 shipping product to strengthen its service network in traditional markets[9]. - The company anticipates stable growth in global container transport demand despite external uncertainties, with an increase in effective capacity supply expected[11]. - The company plans to enhance its digital supply chain platform and improve customer service to adapt to global economic changes and industry transformations[12]. - The company aims to strengthen cost control and improve management efficiency in response to market fluctuations and inflation pressures[12]. - The company is committed to building a world-class integrated logistics service ecosystem as part of its long-term vision[12]. Employee and Governance - As of June 30, 2022, the total employee cost (including director remuneration) amounted to approximately RMB 10,063,291,000, with around 31,212 employees in the group[79]. - The company has implemented various professional training programs to enhance the quality and capability of its human resources[79]. - The company emphasizes high standards of corporate governance, with 5 out of 7 directors attending the annual general meeting held on May 27, 2022[119]. - The audit committee has been established to review the financial reporting process and internal control systems, ensuring compliance with the Hong Kong Stock Exchange listing rules[118]. - The company actively communicates with the capital market, collecting feedback to inform decision-making processes[125]. - The company maintains a dedicated investor relations webpage for timely updates on announcements and reports[126]. Stock Options and Incentives - The stock option incentive plan allows for a total of up to 218,236,900 A-shares to be granted, representing about 1.72% of the company's A-share capital as of June 30, 2022[80]. - The company has established stock option plans aimed at enhancing shareholder value and aligning management interests with those of shareholders[164]. - The total number of stock options granted to the company's directors and senior management is 183,290,105, with 879,546 exercised during the reporting period[88]. - The stock options are subject to a two-year restriction period before they can be exercised[103]. - The stock options granted in 2020 and 2021 require individual performance assessments to meet the basic competency level for vesting[101]. - The stock options incentive plan has a total validity period of 10 years, with an exercise period of 7 years[92]. Market and Economic Outlook - The company anticipates that the high freight rates due to port congestion and container supply shortages are not sustainable in the medium to long term[183]. - The company’s management expects that the minimum volume commitments for the Long Beach Container Terminal may not be met due to uncertainties in the economic environment[183]. - The company is focusing on sustainable development by optimizing its fleet and supply chain to comply with new environmental regulations[12].