COSCO Shipping Development : Holds 2017 Performance Press Conference

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COSCO Shipping Development Co., Ltd. announced its 2017 performance on March 30, 2018 and held a press conference and an investor promotion meeting in Hong Kong on April 3. The management of the Company including Liu Chong, Managing Director, Zhang Mingwen, General Accountant, Ming Dong, Deputy General Manager and Yu Zhen, Board Secretary and so forth attended the meetings. The major media representatives from EtNet, Finet, Hong Kong Commercial Broadcasting, Metro Broadcasting Corporation Limited, Ta Kung Pao, etc. and major brokers or fund analysts from BOC International(China)Co., Ltd., BOCOM International Holding Co., Ltd., China Galaxy Securities Co., Ltd., Hainar Capital, Viveka Investment and other institutions were present at the meeting.

　　During the press conference, Liu Chong, Managing Director of COSCO Shipping Development, reviewed the achievements made by the Company in 2017. The Company realized revenue of RMB16.34bn in 2017, up 2.4% compared with that of 2016. The net profit attributable to equity holders of the parent company is RMB1.46bn, up 296.6% compared with that of 2016. The primary earnings per share is RMB0.1251. Over the past year, the Company continuously improved its management level, increased its asset size and economic benefits and achieved collaborative development in its three business sectors.

　　Realize diversified development by focusing on shipping industry

　　In 2017, the Company actively forged its brand featuring shipping finance, steadily advanced the development of chartering, container lease and other industrial lease business. At the same time, the Company actively made innovations in business model, formed its unique competitive advantages and tried to promote its asset management capability and return on invested capital.

　　Stabilize market shares and advance technological innovation

　　In 2017, the Company's business performance in the container manufacturing sector grew steadily. The Company seized the market opportunities brought by shipping market recovery and release of a large number of container orders and recovered dual-shift production to fully tap its production capacity. At the same time, the Company locked related costs and stabilized profit space in advance before the price rise of materials used for building containers through keen judgment on the market.

　　Aggregate external capital to advance integration of industry and finance

　　In 2017, the Company actively promoted the establishment of 'open sea' series of industrial funds to help the development of shipping and new industries. In addition, the Company actively expanded insurance, asset management, petty loan, factoring and other business fields by focusing on shipping industry entities and achieved collaborative development of shipping finance business.

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　　During the press conference, the media reporters and analysts showed strong interest in the Company's industry environment, strategy, business planning and other aspects. The management of the Company made in-depth and meticulous communication with them and the attendees also expressed strong concern about the Company's future development.

　　The management of the Company is confident in the development prospects of COSCO Shipping Development. It will adhere to the concept of 'integrate industry and finance and help industry with finance', actively respond to and tap the finance service requirements of shipping industry, optimize, strengthen and enlarge 'shipping finance industry' by focusing on 'marine economy' and expand broader business space in fields of capital market operation, shipping finance service, diversified financing, shipping funds, etc.