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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  COSCO SHIPPING Holdings Co., Ltd.    1919   CNE1000002J7

COSCO SHIPPING HOLDINGS CO., LTD.

(1919)
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End-of-day quote. End-of-day quote Hong Kong Stock Exchange - 08/07
3.28 HKD   +0.92%
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Cosco Strikes Blockchain Pact for Ocean Cargo With Alibaba, Ant

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07/07/2020 | 02:16pm EDT

By Costas Paris

China's state-run container line Cosco Shipping Holdings Ltd. will work with Alibaba Group Holding Ltd. and Ant Financial Group, the e-commerce giant's financial technology affiliate, on using blockchain technology to track goods across seaborne supply chains.

Under the deal announced late Monday, the companies will cooperate on the initiative, the latest in a string of agreements in the shipping sector aimed at connecting cargo owners, vessel operators, ports and logistics companies through digital platforms that use blockchain technology.

Blockchain allows trusted participants to share information as goods move through supply chains. The system promises to reduce the cost of administering shipped goods, cut down on paperwork and speed the flow of goods by letting companies transmit information quickly and reliably.

Ant Financial Services runs the biggest business-oriented blockchain platform in China, processing payments and other services for as many as a billion users a day.

"We look forward to supporting the digital transformation of the global shipping industry, and working with Cosco Shipping to make it easier and more efficient to trade globally," said Eric Jing, executive chairman of Ant Financial Group.

Alibaba signed a similar deal in May with shipping conglomerate China Merchants Holdings to create a digital platform for port operations.

Denmark's A.P. Moller-Maersk A/S, which runs container shipping giant Maersk Line, and International Business Machines Corp. in 2016 introduced a blockchain platform for container ships called TradeLens, which other big operators such as Switzerland-based Mediterranean Shipping Co., France's CMA CGM SA and Germany's Hapag-Lloyd AG have since joined.

It's unclear so far whether significant freight flows have been handled through the platform. TradeLens participants have said use of the blockchain platform has waned during the coronavirus pandemic because global trade flows have fallen sharply while shipping lines have dropped hundreds of port calls, paring down and effectively simplifying many supply chains.

Large companies such as Walmart Inc. and Procter & Gamble Co., along with hundreds of ports, have been testing the technology to get a better view of their supply chains, from raw materials to finished goods.

Write to Costas Paris at costas.paris@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
A.P. MØLLER - MÆRSK A/S 0.64% 8798 Delayed Quote.-8.93%
ALIBABA GROUP HOLDING -5.11% 252.1 Delayed Quote.18.86%
COSCO SHIPPING HOLDINGS CO., LTD. -1.66% 4.73 End-of-day quote.-10.25%
COSCO SHIPPING HOLDINGS CO., LTD. 0.92% 3.28 End-of-day quote.3.80%
INTERNATIONAL BUSINESS MACHINES CORPORATION -0.92% 124.96 Delayed Quote.-6.77%
WALMART INC. 0.48% 129.97 Delayed Quote.9.37%
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Financials
Sales 2020 145 B 20 819 M 20 819 M
Net income 2020 2 238 M 321 M 321 M
Net Debt 2020 82 557 M 11 848 M 11 848 M
P/E ratio 2020 31,6x
Yield 2020 -
Capitalization 53 385 M 7 663 M 7 661 M
EV / Sales 2020 0,94x
EV / Sales 2021 0,80x
Nbr of Employees 27 179
Free-Float 51,7%
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Mean consensus OUTPERFORM
Number of Analysts 8
Average target price 2,81 CNY
Last Close Price 2,95 CNY
Spread / Highest target 37,2%
Spread / Average Target -4,54%
Spread / Lowest Target -34,1%
EPS Revisions
Managers
NameTitle
Li Rong Xu Chairman
Yan Meng Member-Supervisory Board
Hai Min Wang Vice chairman
Liang Yee Yang Independent Non-Executive Director
Jian Ping Zhang Member-Supervisory Board