EQS-News / 31/03/2021 / 08:33 UTC+8 
Press Release 
(For immediate release) 
 
 
 
 
 
 
 
COSCO SHIPPING Development Announces 2020 Annual Results 
Reforms and Developments Move on Despite Pandemic 
Operating Revenue Seen Major Hike of 49% 
 
 
(30 March 2021, Hong Kong)- COSCO SHIPPING Development Co., Ltd. (the "Company" or "COSCO SHIPPING Development") is 
pleased to announce the consolidated results of the Company and its subsidiaries (the "Group") for the year ended 31 
December 2020 (the "Period"). 
 
In early 2020, the COVID-19 pandemic swept the world and hit the global economy hard. Major developed economies were 
affected by the lingering pandemic and saw slow recovery. In the meantime, global economy is under gradual recovery and 
the Chinese economy is now entering a stable positive growth. With space for widespread application of digitized 
technologies, a new status quo is gradually phased into global economy and trade. 
 
In 2020 the Company recorded a revenue of RMB14.42 billion, an increase of 49% from 2019, and a net profit attributable 
to owners of the parent of RMB2.13 billion, an increase of 22% from 2019. The basic earnings per share amounted to 
RMB0.1556. The Board proposed a final dividend of RMB0.056 per share. 
 
Riding on Advantages in the Value Chain, Vessel Leasing Business set to venture into new business areas 
 
During the period under review, the revenue generated from the shipping and other industry leasing segment was RMB7.751 
billion, representing a steady increase of 19.7%. The Company consistently deepened its direction of "Integrating 
industry and finance, facilitating industry development with finance and creating synergy" and achieved significant 
breakthrough in extending financial service in its shipping industry chain. In 2020, the Company commenced 10 pulp 
carriers building and leasing projects with COSCO Shipping Specialized Carriers and COSCO Shipping Heavy Industry. In 
addition, the Company had also worked with COSCO Shipping Bulk and COSCO Shipping Heavy Industry to commenced 16 
operational leases of Ghana bulk carriers, to replenish the capabilities of the Company's leased fleet for supporting 
the main shipping business. Moreover, the Company focused on both the internal and external aspect hand-in-hand and 
steadily expanded on its external market business and extended its large transportation leasing business market to make 
an effort in developing new centers of profit growth. The segment realized a revenue of RMB680 million, representing an 
increase of 13.4%. In terms of container leasing business, the Company made advance deployment facing adverse market 
conditions through measures such as advance deployment and revitalization of containers on the ground in the first half 
of the year, which allowed the Company to make good use of market opportunities and realized sound revenue through 
leveraging its outstanding advantages in industry chain and market influence. Operating income saw a rise of 28.1% to 
RMB4.36 billion. In terms of other business leasing, the scale of finance leasing saw continuous expansion, with 
revenue steadily rose for 9.7 % to RMB2.71 billion. 
 
Container Business Comprehensively Enhanced Management Capabilities to Carry Forward Assets Acquisition for Sustained 
Development 
 
In 2020, the global pandemic situation is in a serious state and there is a structural lack of containers in the market 
with concurrent volume and price hike in the container market. The Company closely monitored market situation and 
leveraged its scale and synergistic effects to achieve highly effective management and sound economic benefits, which 
served to realize an operating income of RMB8.13 billion with a substantial hike of 77.4% year-on-year, representing 
56.4% of the Company's total revenue. At the same time, the Company actively promoted the acquisition of container 
assets by further integrating the Group 's containers manufacturing assets and optimizing its production capacity to 
expand its diversified operations and enhanced technological capabilities to facilitate leasing and manufacturing, 
thereby achieving an effective enhancement of its comprehensive competitiveness. 
 
In the face of imbalance between supply and demand in the container market in 2020, the Company exerted its influence 
in the industry and actively and orderly arranged production to meet market demands, to provide key logistics support 
services for the stabilization of international and domestic dual-cycle. 
 
The Investment and Service Segment innovated new model in Industry-Finance Cooperation to push forward supply chain 
finance service 
 
The Company innovated new models in industry-finance cooperation and introduced external resources. Various investment 
projects achieved great yields. At the same time, the Company was able to enhance its operating income through building 
a one-stop supply chain financial services platform to provide more comprehensive and comprehensive financial 
solutions. 
 
 
 
Advocating Proactive Profit-Sharing to Safeguard Investors' Interests 
 
The Company is dedicated to safeguarding the interests of investors and promoting its long-term sustainable 
development. As such, the Company has paid cash dividends for two consecutive years to share its development 
achievements with shareholders. In 2020, the Company completed the dividend distribution to A-share and H-share 
investors for 2019 by distributing a total of RMB520 million of cash dividends to all shareholders. In 2020, The 
Company continued to reward investors with an active and stable dividend policy. 
 
Taking advantages of new developments and opportunities to foster a new supply chain comprehensive financial service 
platform 
 
In 2021, the global economy will experience a gradual recovery. Supply and demand in the shipping market is expected to 
further improve, and the global trading landscape will see gradual structural adjustments. Financial market regulation 
is transiting into the stage of risk mechanism construction, and the financial policy will continue to show a trend of 
gradual tightening. With good development momentum in the new economy and the continuous advancement of the hi-tech 
industry and the establishment of a dual-cycle new development model, vast opportunities will be available to the 
upstream and downstream sides of the shipping industry chain. Through these efforts, it is expected that the shipping 
finance ecosystem empowered fully by supply chain finance will gradually improve. 
 
Looking forward, COSCO SHIPPING Development said that the Company will seize new opportunities in economic development 
and accelerate the establishment of a new development model, and strive to build an integrated financial services 
platform for supply chain based on its deployment in its main lines of shipping and logistics industries. 
 
 
-END- 
 
 
 
About COSCO SHIPIING Development Co., Ltd. 
 
COSCO SHIPPING Development Company Limited (2866.HK), a company affiliated to China COSCO Shipping Corporation Limited, 
specializes in the provision of supply chain integrated financial services. Formerly known as China Shipping Container 
Lines Company Limited, it was established in 1997 with headquarters in Shanghai, the PRC, and is listed both in Hong 
Kong and Shanghai. The Company aims to base on its shipping finance operation and leverage its strengths in shipping 
logistics to integrate the value chain, thereby building a business portfolio with a primary focus on shipping and 
related leasing services, container manufacturing, investment and services. It strives to create a one-stop shipping 
financial service platform which features market-driven mechanism, differentiation advantages, international vision, 
the integration between industry and finance, the collaboration between financial companies, and the collaborative 
development of multiple businesses. 
 
 
 
Investor and Media Enquiries 
 
Jack Liu / Alice Yip 
PRChina Limited 
Tel: (852) 2522-1838 
Email: zyliu@prchina.com.hk / ayip@prchina.com.hk 
 
31/03/2021 Dissemination of a Marketing Press Release, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
Media archive at www.todayir.com

(END) Dow Jones Newswires

March 30, 2021 20:34 ET (00:34 GMT)