COSCO Shipping

China COSCO Shipping Group Co., Ltd. (hereinafter referred to as China COSCO Shipping Group or the Group) was formed through the restructuring of China Ocean Shipping (Group) Company and China Shipping (Group) Company, with its headquarters in Shanghai. It is a super-large state-owned enterprise directly managed by the central government. China Shipping (Group) Company (hereinafter referred to as China Shipping) was established on July 1, 1997, with its headquarters in Shanghai. It is a super-large comprehensive enterprise group focusing on shipping, operating across industries, regions, ownership types, and national boundaries, and is a state-owned enterprise directly managed by the central government. Its total assets exceed 200 billion yuan, with annual revenue exceeding 80 billion yuan. Its subsidiaries, including China Shipping Development, China Shipping Container Lines, China Shipping Haisheng, and China Shipping Technology, are listed in Shanghai, Shenzhen, and Hong Kong. China Shipping primarily engages in maritime transportation of containers, oil, dry bulk cargo, LNG (liquefied natural gas), passengers, car carriers, and special cargo, with a fleet of over 530 vessels totaling more than 36 million deadweight tons. The three main fleets—container, oil tanker, and dry bulk—rank among the world's leading fleets. While focusing on shipping, China Shipping actively extends its upstream and downstream businesses, forming a diversified industrial layout with coordinated development in shipping, shipping finance, logistics, terminals, ship repair and building, technology and information. China Shipping’s main business includes five fleets: container, oil tanker, cargo, passenger, and special transport; related businesses include terminal operations, integrated logistics, ship agency, global air freight, ship repair and building, crew management, container manufacturing, supply and trading, financial investment, and information technology. China Shipping operates in 85 countries and regions worldwide, with six holding companies in North America, Europe, Hong Kong, Southeast Asia, South Korea, and West Asia, as well as Japan Co., Ltd. and Australia Agency Co., Ltd.; overseas subsidiaries include over 90 companies, agencies, and representative offices, with more than 300 marketing outlets in total. China Shipping owns 430 vessels of various types, totaling 15.6 million deadweight tons, with container capacity exceeding 400,000 TEUs; the group completes over 300 million tons of cargo transportation and 7 million TEUs annually, playing an important role in supporting and safeguarding national energy and import/export trade. China Shipping adheres to the development philosophy of scientific development and building a century-old China Shipping; it upholds the business strategy of strengthening and expanding its main shipping business while actively developing related industries. China Shipping's development goal for the "Eleventh Five-Year Plan" is to become one of the country's key backbone enterprises with strong international competitiveness and to build a world-class shipping enterprise.