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COSCO SHIPPING Development

development.coscoshipping.com

Founded Year

2004

Stage

IPO | IPO

Date of IPO

12/12/2007

About COSCO SHIPPING Development

COSCO SHIPPING Development (601866.SH) is the subsidiary of China Shipping Group that focuses on supply chain and financial services.

Headquarters Location

China Ocean Shipping Building, No. 5299 Binjiang Avenue Pudong New District

Shanghai, Shanghai, 200127,

China

+86 021-65966105

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Latest COSCO SHIPPING Development News

COSCO SHIPPING Development : Becoming the Second Largest Container Manufacturing Company in the World- Smooth Completio...

Dec 1, 2021

. 11/26 11/26 12/01/2021 | 02:21am EST Message : *Required fields Becoming the Second Largest Container Manufacturing Company in the World- Smooth Completion of the Transaction on Acquisition of Assets Through Issuance of Shares by Cosco Shipping Development 发布时间: 2021-11-29 On the evening of November 26, COSCO SHIPPING Development issued an announcement that the relevant formalities for registering the newly issued 1,447,917,519 RMB ordinary shares (A shares) involved in the acquisition of assets through issuance of shares by the Company were completed by China Securities Depository and Clearing Co., Ltd. on 25 November2021. The newly issued shares of the issuance have a lock-up period of three years, which can be listed and traded on the Shanghai Stock Exchange until 26 November 2024, with the tradable shares of the Company remaining unchanged. The Target Assets in the Transaction include: 100% of the equity interests in Dong Fang International Container (Qidong) Co., Ltd., Dong Fang International Container (Qingdao) Co., Ltd., Dong Fang International Container (Ningbo) Co., Ltd. and Shanghai Universal Logistics Technology Co., Ltd., all of which have been transferred to COSCO SHIPPING Development. Through various compliance procedures and regulatory review, the transaction on acquisition of assets through issuance of shares by COSCO SHIPPING Development was successfully completed. With the successful completion of the Transaction, the Company has become the second largest container manufacturing company in the world, achieving an overall scale with an annual design capacity of over one million containers. Through integrating container factories in Qingdao, Ningbo and Qidong, the Company further improves the location advantages of container factories, has the ability to manufacture reefer containers and special containers, enriches container application scenarios, promotes the exploration of smart containers, and enhances comprehensive service capabilities in an all-round manner. In addition, Florens, a subsidiary of the Company, is the second largest container leasing company in the world, as such, the business linkages between container manufacturing segment and container leasing segment of the Company have been further strengthened to promote the coordinated development, thereby strengthening the overall core competitiveness of the Company. According to the transaction report, during the transition period commencing from the next day after the valuation benchmark date (31 December 2020) to the closing audit date, the profits and losses realized by the Target Assets will be owned by the listed company. Currently, the recovery of global economic growth is still the main keynote, the short supply of the container market has not yet been completely relieved, and the container manufacturing factories of the Company have sufficient orders. The Company will continue to make every effort to implement the "stability on six fronts" and "security in six areas", so as to provide important logistics guarantees for the global supply chain. Since 2021, the Company has fully seized the opportunity in the market and business development to achieve high-quality development in various business segments. For the shipping leasing segment, the Company has persisted in improving itself both internally and externally continuously expanded subdivided business segments, and enriched leasing products to achieve a win-win situation in the industry chain. For the container manufacturing segment, the Company has effectively maximized the potential of production capacity, improved technological transformation and upgrades, and strengthened the linkages between leasing and manufacturing to achieve good results. For the investment and service segment, the Company has adhered to a diversified investment strategy, and expanded supply chain financial services to committee to empowering shipping finance with technology, thereby boosting innovation and breakthroughs in supply chain financial services. In the first three quarters of 2021, the Company achieved a net profit attributable to shareholders of the Company and other equity holders of RMB3.99 billion, representing a significant year-on-year increase of 138.5%. In the future, the Company will grasp the opportunity of industry development and take advantage of the integrated scale capacity, the synergy effect of shipping industry chain and the innovative thinking of industry + technology to make another leap forward in the core industry, thereby further enhancing its overall value. Attachments

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COSCO SHIPPING Development Frequently Asked Questions (FAQ)

  • When was COSCO SHIPPING Development founded?

    COSCO SHIPPING Development was founded in 2004.

  • Where is COSCO SHIPPING Development's headquarters?

    COSCO SHIPPING Development's headquarters is located at China Ocean Shipping Building, No. 5299 Binjiang Avenue, Shanghai.

  • What is COSCO SHIPPING Development's latest funding round?

    COSCO SHIPPING Development's latest funding round is IPO.

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