On 7 April, COSCO SHIPPING Holdings Co., Ltd. (hereinafter referred to as “COSCO SHIPPING Holdings” or “Company”) (SSE: 601919; HKEx: 1919) convened the Company’s 2020 Annual Results Briefing in the online interactive format. Presented at the meeting and replied to investors’ queries included Mr Xu Lirong, Chairman of COSCO SHIPPING Group and COSCO Shipping Holdings; Mr Yang Zhijian, Executive Director and General Manager of COSCO SHIPPING Holdings; Mr Feng Boming, Executive Director; Mr Zhang Mingwen, Chief Accountant; Mr Chen Shuai, Deputy General Manager and Mr Guo Huawei, Secretary to the Board.
During the briefing, the Company's management delivered views on areas of investor's concerns, including industry conditions, development strategies, production and operation status, financial conditions, shareholders' return, and risks control, etc. The Company's management also provided detailed feedback on issues such as the Company's "14th Five-Year" development plan, the impact of the epidemic on the Company's businesses and countermeasures, investor returns and outlook for Trans-Pacific routes and Asia-Europe routes etc.
Chairman Xu remarked that COSCO SHIPPING Holdings has achieved positive results since the reformation and reorganization of 2016. There were several main factors: First of all, restructuring, integration and acquisition made the Company achieve leapfrog development. Container capacity and port operation scale were maintained in the world's first echelon which helped the Company achieve economies of scale and laid a solid foundation for future sustainable development. Second, the Company achieved remarkable results in the prevention and control of the epidemic situation and production and operation. The Company adhered to the people-oriented principle and paid close attention to the prevention and control of epidemic situation at home and abroad. The Company took the lead in resuming work and production, implemented the requirement of ensuring stability in six key areas and effectively meet six priorities to ensure the smooth supply chain and grasp the market opportunity. Third, the Company adhered to the customer-centered and used the digital continuous improvement of service quality. The Company insisted on taking customer service as the soul and foundation of development, constantly expanded end-to-end service, and enhanced enterprise competitiveness by improving enterprise service connotation. Fourth, the Company made full use of the market-oriented mechanism to encourage employees at home and abroad to work diligently. The Company actively implemented the three-year action of state-owned enterprise reform, the reform of mixed ownership, employee stock ownership, and stimulated employees’ enthusiasm through a variety of incentive means, so that employees were full of confidence about the future.
General Manager Yang Zhijian added that the Company would adhere closely to the strategic guideline of "focusing on high-quality development, breakthrough development and integrated development" and the strategic goal of "Three Networks Convergence", namely the convergence of transportation route network, end-to-end service network and digital information network. The Company would keep on implementing new development concepts and optimizing its market structure, sourcing structure and fleet structure. The Company is looking to ceaselessly take the lead in the industry's digital transformation, actively implement its environmentally friendly green operation philosophy, and proactively insist on a lean operation to constantly improve quality and efficiency and provide better service to customers greater value for shareholders.
This briefing was held both online and offline. All in all, 31 small and medium investors and institutional investors’ representatives and media journalists attended the annual results briefing. The briefing was also carried out by live broadcast and online text interaction to all investors through the network platform of Shanghai Securities Roadshow Center.