Announcements and Notices - [Quarterly Results Inside Information]- 2021 THIRD QUARTERLY REPORT

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

中 遠 海 運 發 展 股 份 有 限 公 司

COSCO SHIPPING Development Co., Ltd.*

(A joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock Code: 02866)

2021 THIRD QUARTERLY REPORT

In accordance with the applicable rules of the Shanghai Stock Exchange of the People's Republic of China (the "PRC") (being the stock exchange on which the A shares of COSCO SHIPPING Development Co., Ltd. (the "Company" or "COSCO SHIPPING Development", together with its subsidiaries, the "Group") are listed), the quarterly report (the "Quarterly Report") of the Company for the third quarter of 2021 (the "Reporting Period") will be published on the Shanghai Stock Exchange on 29 October 2021. The financial information set out in the Quarterly Report was prepared in accordance with the Generally Accepted Accounting Principles of the PRC.

This announcement is made pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

IMPORTANT NOTICE:

The board of directors, the supervisory committee, the directors, the supervisors and the senior management of the Company confirm the truthfulness, accuracy and completeness of this Quarterly Report and that there are no false information, misleading statements, or material omissions contained therein; and severally and jointly accept legal responsibility thereof.

The person-in-charge of the Company, the person-in-charge of accounting affairs, and the head of the accounting department (officer in charge of accounting) have confirmed the truthfulness, accuracy and completeness of the information of financial statements contained in this Quarterly Report.

Whether the financial statements for the third quarter are audited

□ Yes √ No

1

1. PRINCIPAL FINANCIAL DATA

1. Principal accounting data and financial indicators

			Unit: Yuan	Currency: RMB
				Change from
				the beginning
				of the year to
				the end of the
		Change as		Reporting Period
		compared with	From the	as compared with
		the corresponding	beginning	the corresponding
		period of the	of the year to	period of the
	Reporting	previous year	the end of the	previous year
Item	Period	(%)	Reporting Period	(%)
Revenue	10,623,303,600.46	117.20	24,980,386,957.66	96.58
Net profit attributable to
shareholders and other equity holders of
the listed company	1,567,175,114.46	91.42	3,988,316,109.77	138.53
Net profit attributable to
shareholders and other equity holders of
the listed company, excluding
extraordinary gains or losses	1,552,463,241.56	94.52	4,206,229,621.40	160.49
Net cash flow generated from
operating activities	N/A	N/A	7,239,265,766.18	27.83
Basic earnings per share (RMB per share)	0.1300	104.72	0.3281	167.18
Diluted earnings per share (RMB per share)	0.1297	104.25	0.3277	166.86
		Increased by 3.10		Increased by 10.84
Weighted average return on net assets (%)	7.16	percentage points	18.87	percentage points
				Change at the
				end of the
				Reporting Period
				as compared
		As at the end	As at the end	with the end of
		of the	of the	the previous year
		Reporting Period	previous year	(%)
Total assets		121,586,942,627.10	146,038,794,875.34	-16.74
Owners' equity attributable to shareholders and
other equity holders of the listed company		27,515,599,094.65	24,370,007,060.10	12.91

Note: "Reporting Period" refers to the three-month period from the beginning of the current quarter to the end of the current quarter, the same below.

2

(II) Items and amounts of non-recurring gain or loss
		Unit: Yuan	Currency: RMB
				Amount for
				the beginning
				of the year
		Amount for	to the end of
		the Reporting	the Reporting
Item	Period	Period
Gain or loss on disposal of non-current assets
(including the write-off of the asset impairment provision)	2,830,659.54		-218,197,271.06
Government subsidies (except for government subsidies
which are closely related to the ordinary business scope of
the Company and entitled in standard amounts or quantities
in conformity with the provisions of policies of the State)
attributable to gain or loss for the period	11,348,049.86		16,721,112.10
Reversal of impairment provisions for receivables subject to
individual impairment test	1,395,307.39		10,981,490.54
Other non-operating income and expenses apart from the
above items	703,283.31		-28,872,716.49
Less: Effect of income tax	1,565,427.20		-1,453,873.28
Effect of minority interests (after tax)	-	-
Total	14,711,872.90		-217,913,511.63

Explanation on extraordinary gain or loss items defined as recurring gain or loss items as illustrated in the Explanatory Announcement on Information Disclosure for Companies Offering Their Securities to the Public No. 1 - Extraordinary Gain or Loss

□ Applicable √ Not applicable

3

(III) Changes for the major accounting data and financial indicators and the reasons thereof

√ Applicable □ Not applicable

Item name

Revenue during the Reporting Period

Revenue from the beginning of the year to the end of the Reporting Period

Net profit attributable to shareholders and other equity holders of the listed company from the beginning of the year to the end of the Reporting Period

Net profit attributable to shareholders and other equity holders of the listed company during the Reporting Period

Net profit attributable to shareholders and other equity holders of the listed company during the Reporting Period, excluding extraordinary gains or losses

Net profit attributable to shareholders and other equity holders of the listed company from the beginning of the year to the end of the Reporting Period, excluding extraordinary gains or losses

Basic earnings per share during the Reporting Period (RMB per share)

Basic earnings per share from the beginning of the year to the end of the Reporting Period (RMB per share)

Diluted earnings per share during the Reporting Period (RMB per share)

Diluted earnings per share from the beginning of the year to the end of the Reporting Period (RMB per share)

Percentage

change (%) Main reason(s)

117.20 Mainly due to the year-on-year increase in revenue with better market sentiments of the container manufacturing segment

96.58 Mainly due to the year-on-year increase in revenue with better market sentiments of the container manufacturing segment

138.53 Mainly due to the year-on-year increase in net profit from the container manufacturing segment and the investment service segment

91.42 Mainly due to the year-on-year increase in net profit from the container manufacturing segment and the investment service segment

94.52 Mainly due to the year-on-year increase in net profit from the container manufacturing segment and the investment service segment

160.49 Mainly due to the year-on-year increase in net profit from the container manufacturing segment and the investment service segment

104.72 Mainly due to the year-on-year increase in net profit from shareholders attributable to the parent company

167.18 Mainly due to the year-on-year increase in net profit from shareholders attributable to the parent company

104.25 Mainly due to the year-on-year increase in net profit from shareholders attributable to the parent company

166.86 Mainly due to the year-on-year increase in net profit from shareholders attributable to the parent company

4

1. SHAREHOLDER INFORMATION

1. Total number of shareholders of ordinary shares and shareholders of preference shares with restored voting rights and shareholdings of the top ten shareholders

					Unit: Shares
Total number of shareholders of		309,901	Total number of shareholders	N/A
ordinary shares as at the end of		of preference shares with
the Reporting Period			restored voting rights as at
			the end of the Reporting
			Period (if any)
	Shareholding of the top 10 shareholders
				Number of	Pledged,
			Shareholding	shares subject	marked or frozen
	Nature of	Number of	percentage	to selling	Status of
Name of shareholder	shareholder	shares held	(%)	restrictions	shares	Number
China Shipping Group	State-owned	4,410,624,386	38.00%	0	Nil	0
Company Limited	corporation
HKSCC NOMINEES LIMITED	Foreign	3,657,185,248	31.51%	0	Unknown	Unknown
	corporation
Hong Kong Securities	Foreign	110,566,347	0.95%	0	Nil	0
Clearing Company Limited	corporation
A securities account of COSCO SHIPPING	State-owned	79,627,003	0.69%	0	Nil	0
Development Co., Ltd. designated	corporation
for repurchase
Henan Yiluo Investment	Other	49,301,464	0.42%	0	Nil	0
Management Co., Ltd. - Letian No. 1
Yiluo private equity investment fund
China COSCO SHIPPING	State-owned	47,570,789	0.41%	0	Nil	0
Corporation Limited	corporation
Henan Yiluo Investment	Other	38,451,223	0.33%	0	Nil	0
Management Co., Ltd. - Junan No. 12
Yiluo private equity investment fund
Henan Yiluo Investment	Other	34,875,100	0.30%	0	Nil	0
Management Co., Ltd. - Yiluo No. 9
private equity investment fund
Henan Yiluo Investment	Other	27,014,286	0.23%	0	Nil	0
Management Co., Ltd. - Huazhong No. 3
Yiluo private equity investment fund
Henan Yiluo Investment	Other	25,018,800	0.22%	0	Nil	0
Management Co., Ltd. - Junan No. 6
Yiluo private equity investment fund

5