Core Viewpoint - The company, COSCO Shipping Development Co., Ltd., is undergoing significant changes in its corporate governance structure, including a reduction in registered capital and the cancellation of the supervisory board, which reflects a strategic shift in its operational framework [1][2][3]. Company Announcements - COSCO Shipping Development's board approved several resolutions, including a reduction in registered capital by 216,682,794 shares, bringing the total registered capital down to RMB 13,356,617,112 [1][3]. - The company has repurchased and canceled 219,321,500 shares since February 1, 2023, and has issued an additional 2,638,706 shares due to stock option exercises [1]. - The company plans to build 10 bulk carriers of 210,000 tons and lease them to COSCO Shipping Bulk Transport Co., Ltd., with an annual rent of up to RMB 6,380 million per vessel [3][5]. - COSCO Shipping Development intends to construct 4 asphalt carriers of 9,000 tons, with a unit cost of RMB 201.5 million for domestic and foreign trade vessels [3]. - The company will also engage in a sale-leaseback transaction for a 27,100 cubic meter QC-Max LNG vessel, with a purchase price not exceeding USD 36.069 million [3]. Corporate Governance Changes - The company plans to abolish the supervisory board and amend various governance documents, including the Articles of Association and rules for shareholder and board meetings, in compliance with the new Company Law effective from July 1, 2024 [2]. - The company will change its registered address to the China (Shanghai) Pilot Free Trade Zone and appoint the chairman as the legal representative [2]. - The board will include at least three independent non-executive directors, with one being a professional accountant [2]. Leadership Changes - Non-executive director Liang Yanfeng has resigned due to age-related reasons, effective immediately upon submission of his resignation [3][4]. - Liang Yanfeng's departure will not affect the minimum number of board members or the company's normal operations [3].

Core Viewpoint - On July 29, 2025, China Merchants Energy Shipping Company (中远海发) reported a stock price of 2.56 yuan, a decrease of 0.39%, with a trading volume of 910,700 shares and a total transaction amount of 233 million yuan [1] Trading Information Summary - On July 29, 2025, the net outflow of main funds was 20.89 million yuan, accounting for 8.96% of the total transaction amount; net inflow from retail investors was 5.84 million yuan, accounting for 2.51% [1] Company Announcements Summary - The 29th meeting of the 7th Board of Directors of China Merchants Energy Shipping Company was held on July 29, 2025, where several resolutions were passed, including: - Approval for the subsidiary to commission the construction of 4 bulk carriers at a total contract price of 211.2 million yuan [1][4] - Approval for the construction of 6 similar bulk carriers at a total amount of 316.8 million yuan [4] - Approval to lease the 10 bulk carriers to China Merchants Bulk Transportation Company at an annual rent not exceeding approximately 63.8 million yuan per vessel [1][4] - Approval for the construction of 4 asphalt carriers with a unit cost of 201.5 million yuan for domestic and foreign trade [1] - Approval for a sale-leaseback transaction for an LNG vessel at a purchase price not exceeding 36.069 million USD [1] - Approval to change the registered capital to 13,356,617,112 yuan and to cancel the supervisory board [2][3] Director Resignation Announcement - On July 29, 2025, the company received a resignation letter from non-executive director Liang Yanfeng due to age-related retirement, effective immediately upon receipt of the letter [3][4]