COSCO SHIPPING : PRELIMINARY RESULTS FOR THE YEAR 2020

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ʕჃऎ༶છٰٰ΅Ϟࠢʮ̡

COSCO SHIPPING Holdings Co., Ltd.*

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

(Stock Code: 1919)

PRELIMINARY RESULTS FOR THE YEAR 2020

This announcement is made by COSCO SHIPPING Holdings Co., Ltd.* (the "Company", together with its subsidiaries, the "Group") pursuant to Rules 13.09 and 13.10B 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 under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

The major financial data for the year ended 31 December 2020 (the "Reporting Period") set out in this announcement, which are the preliminary data prepared in accordance with the Chinese Accounting Standards for Business Enterprises and the Listing Rules of the Shanghai Stock Exchange, and have not been audited by the auditors of the Company. The final financial data shall be disclosed in the annual report of the Company for the year ended 31 December 2020.

The Company expects that the audited financial results of the Group for the year ended 31 December 2020 will be issued on or before 31 March 2021 in accordance with the requirements under the Listing Rules.

• 1. MAJOR FINANCIAL DATA AND INDICATORS FOR YEAR 2020

• 2. DESCRIPTION ON OPERATING RESULTS AND FINANCIAL POSITION

  Reporting
  Item	Period
  Operating revenue	171,258.83	151,056.68	13.37
  Operating profit	13,931.26	12,062.10	15.50
  Total profit	13,947.71	11,926.70	16.95
  Net profit attributable to equity holders of the Company	9,927.10	6,764.10	46.76
  Net profit attributable to equity holders of the Company,
  net of non-recurring gain or loss	9,593.42	1,585.44	505.10
  Basic earnings per share (RMB)	0.81	0.56	44.64
  Weighted average return on net assets	25.05%	21.57%	Increase by 3.48
  percentage points
  As at the
  As at the	beginning
  end of the	of the
  Reporting	Reporting	Increase/
  Item	Period	Period	Decrease (%)
  Total assets	271,926.07	262,224.03	3.70
  Equity attributable to equity holders
  of the Company	43,913.87	35,359.68	24.19
  Share capital	12,259.53	12,259.53	-
  Net assets per share attributable to equity holders
  of the Company (RMB)	3.58	2.88	24.31

• Unit: RMB million

  Same period of Increase/ last year Decrease (%)

• In 2020, the global economic and trade activities have been severely impacted by the COVID-19 outbreak, therefore the container logistics supply chain has been greatly disrupted. Benefiting from the scientific and strong epidemic prevention and control measures of China, the manufacturing industry in China was one of the first to resume work and production and has played an important role in fighting the epidemic all over the world and stabilizing the global trade.

  In the face of opportunities and challenges, the Company has made every effort in protecting the health of its on-shore and off-shore employees. Meanwhile, the Company has fully relied on the scale advantages, network resources and operating capabilities which have been steadily built over the past five years of the reform and reorganization, and the Company has adhered to the customer-oriented concept. Through the measures such as increasing shipping capacity, securing container supplies and enhancing services, the Company was fully committed to ensuring the global transportation services and has successfully achieved an increase in the amount and price of the container shipping business, which has resulted in a greater growth in the revenue for the year as compared to the same period of the last year.

In 2020, the Company generated an operating revenue of approximately RMB171.3 billion, representing an increase of 13.37% as compared to that of the same period of last year; the net profit attributable to equity holders of the Company was approximately RMB9.9 billion, representing an increase of 46.76% as compared to that of the same period of the last year; and the net profit attributable to equity holders of the Company, net of non-recurring profit or loss, was approximately RMB9.6 billion, representing an increase of 505.10% as compared to that of the same period of the last year.

• 3. RISK WARNING

  The major financial data for 2020 as set out in this announcement is preliminary data and may differ from the data to be disclosed in the annual report of the Company for 2020. However, such difference is not expected to exceed 10%. Investors are reminded to pay attention to the investment risks involved.

• 4. DOCUMENTS AVAILABLE FOR INSPECTION

  The comparable balance sheet and income statement undersigned by Mr. Yang Zhijian (an director and the general manager of the Company), Mr. Zhang Mingwen (the chief financial officer (ᐼึࠇࢪ) of the Company) and Mr. Xu Hongwei (general manager of the financial management department of the Company) with seals affixed by the Company, are available for inspection.

Shareholders and potential investors of the Company are advised to exercise caution when dealing in the securities of the Company.

By Order of the Board

COSCO SHIPPING Holdings Co., Ltd.*

Guo Huawei

Company Secretary

Hong Kong, 8 March 2021

As at the date of this announcement, the Directors are Mr. XU Lirong1 (Chairman), Mr. HUANG Xiaowen1 (Vice Chairman), Mr. YANG Zhijian1, Mr. FENG Boming1, Mr. WU Dawei2, Mr. ZHOU Zhonghui2, Mr. TEO Siong Seng2 and Prof. MA, Si Hang Frederick2.

1	Executive Director
2	Independent non-executive director
*	For identification purpose only