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Press Release (For immediate release) COSCO SHIPPING Holdings Achieved Net Profit of RMB 687million for 1Q 2019 Representing a Substantial Increase of 280% Year-on-Year (26 April 2019, Shanghai) － COSCO SHIPPING Holdings Co., Ltd ("COSCO SHIPPING Holdings" or "the Company") (SSE: 601919; HKEx: 1919) today announced its financial results for the first quarter of 2019. In the first quarter of 2019, the international container shipping market continued to recover. The freight rates of Transpacific and Asia-Europe routes were higher than the same period of last year. The average China Containerized Freight Index (CCFI) reached 852 points, representing a year-on-year increase of 4.5%. COSCO SHIPPING Holdings actively seized market opportunities, made efforts to improve the quality of development and maintained its growth momentum. In the first quarter of 2019, the revenue reached RMB35.08 billion, representing a year-on-year increase of 60%. The company realized a net profit attributable to equity holders of the company of RMB687 million, surged 280% from RMB181 million in the same period of last year. The revenue of container shipping business reached RMB33.45 billion, representing a year-on-year growth of 62.4%, and the gross profit was RMB3.22 billion, representing a year-on-year increase of 159%, with gross profit margin increased by 3.6 percent points to 9.6%. In view of major operating data, the core businesses of the Company continued to maintain sound growth momentum. In the first quarter of 2019, the container shipping business of the Company handled a shipping volume of 5.88 million TEUs, representing a year-on-year increase of 42.6%; of which COSCO SHIPPING Lines handled a shipping volume of 4.28 million TEUs, representing a year-on-year increase of 3.7% and OOCL handled a shipping volume of 1.61 million TEUs. The container terminal business segment of the Company recorded a total throughput of 30.63 million TEUs, representing a year-on-year increase of 1 12.6%; of which the total throughput of COSCO-PSA Terminal in Singapore and Piraeus Port in Greece increased by 54.2% and 24.4% respectively. For the container shipping business, the Company fully implements its core "Ocean & Plus" strategy, namely "globalization, dual-brand, digitalization and end-to-end", to transform from "scale development" to "returning to the essence of the shipping industry and improving service" and continuously build a world-class liner company with international competitiveness. Through continuously strengthening the global strategic layout and focusing on route network optimization, the Company enhances its comprehensive competitiveness and promotes high-quality development. Adhering to the customer-oriented philosophy, the Company promotes the application of digital technology and artificial intelligence, which could improve the level of marketing services and its operational efficiency to enhance customer experience. After the acquisition of Orient Overseas (International) Limited ("OOIL"), the Company adopted dual-brand strategy and has gradually achieved synergies. In addition, the Company puts more efforts on the end-to-end product development, and continues to promote the construction of sea-rail intermodal network to further enhance the capacity of end-to-end logistics solution. As of the end of first quarter, the Company operated a fleet comprising 478 container vessels with total shipping capacity of 2.78 million TEUs, ranking the third in the world in terms of shipping capacity, and had orders for 9 container vessels with total shipping capacity of 159,421 TEUs, which will be delivered in 2019. As for the port business, as the world's leading port operator, COSCO SHIPPING Ports focuses on exploring opportunities along the “Belt and Road” and emerging markets, continuously improves the layout of global terminals, strengthens the control and management ability of ports and terminals, and strive to give full play to the synergies brought by the parent company's fleet and OCEAN Alliance. In January 2019, COSCO SHIPPING Ports signed a formal agreement to acquire 60% equity interest in Chancay Terminal in Peru, and the project is the Company’s first controlled terminal project in South America. In addition, the company continues to step up the development of terminal extended logistic business to enhance its profitability. In April 2019, COSCO SHIPPING Ports signed an agreement to invest in the supply chain project in Nansha district of Guangzhou, in order to develop port supply chain platform and high-end warehousing business, and extend the upstream and downstream industries. In the future, COSCO SHIPPING Holdings will continue to consolidate and develop its container shipping, terminal operation and related businesses, and improve the shipping value chain. Focusing on synergy and lean management, the company will continuously enhance comprehensive competitiveness of container shipping and port services, further 2 promote healthy and stable development of businesses, and provide better service to the customers, so as to maximize business efficiency, enterprise value and shareholder returns. -End- 3 About COSCO SHIPING Holdings Co., Ltd. COSCO SHIPPING Holdings Co., Ltd. ("COSCO SHIPPING Holdings", Stock Code: 1919.HK; 601919.SS) is the listed company controlled by China COSCO SHIPPING Corporation Limited. The Company was listed on the Hong Kong Stock Exchange in June 2005 and the Shanghai Stock Exchange in June 2007. The Company focuses on container shipping and terminal operations. Through its wholly-owned subsidiary, COSCO SHIPPING Lines and its holding subsidiary Oriental Overseas International, the Company operate a total fleet capacity of 478 ships and 2.78 million TEUs, ranking as the world’s third largest container shipping company. COSCO SHIPPING Ports, another controlled subsidiary of the Company, operates a total of 192 container berths in 36 ports around the world, with an annual design processing capacity of 106 million TEU. COSCO SHIPPING Holdings is committed to become a top tier container shipping and port service provider with its continuing efforts to build up a global network, provide customers with integrated solutions and create higher return for shareholders. Disclaimer This press release may contain certain forward-looking information and/or information that is not based on historical data. Reliance on any forward-looking statements involves risks and uncertainties and that, although COSCO SHIPPING Holdings believes that assumptions on which the forward-looking statements are based are reasonable, any or all of those assumptions could prove to be incorrect and as a result, the inclusion of forward-looking statements in this press release should not be regarded as representations by COSCO SHIPPING Holdings concerning future performance of the Group and readers should not place undue reliance on such forward-looking statements. In addition, COSCO SHIPPING Holdings undertakes no obligation to publicly update or revise any of these statements as a result of new information, future events or otherwise. Media Enquiries Xu Junjie / Dong Dai COSCO SHIPPING Holdings Company Limited Tel: (86) 158 2215 9169 / (86) 021-6029 8621 Email: [email protected] / [email protected] Rachel Kwok /David Shiu PRChina Limited Tel: (852) 2522-1838 / (852) 2522-1368 Email: [email protected] / [email protected] 4.
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