(29 April 2025, Shanghai) COSCO SHIPPING Holdings Co., Ltd. (“COSCO SHIPPING Holdings” or “the Company”, SSE: 601919; HKEx: 1919) today announced its 2025 Q1 results.

In the first quarter of 2025, the global container shipping market was clouded by increasing uncertainty amid a more complicated and volatile international environment. As challenges came with opportunities, COSCO SHIPPING Holdings strengthened forward-looking and systematic evaluation, accurately mapped out the capacity for its shipping routes, continuously improved the service quality, and proactively promoted the digital intelligence and green low-carbon transformation, thereby getting off to a good start with “steady progress”.

l  The Company realized high-quality development and new achievements as evidenced by its profit growth. In the first quarter, the Company recorded operating revenue of RMB57.96 billion, representing an increase of 20.05% year-on-year. The operating cost was RMB 42.28 billion, representing an increase of 8.66% year-on-year. The Company posted EBIT of RMB16.58 billion, representing an increase of 66.17% year-on-year. The net profit was RMB13.23 billion, representing an increase of 72.21% year-on-year. The net profit attributable to the shareholders of the Company surged by 73.12% year-on-year to  approximately RMB11.70 billion.

l  Both of container shipping business and port business remained robust, with its shipping volume increased by 7.53% year-on-year to 6.48 million TEUs. The revenue from container shipping business was RMB55.88 billion, representing a 20.07% year-on-year increase. The total port throughput was 35.75 million TEUs, representing a 7.48% year-on-year increase; the revenue from container terminal business was RMB2.77 billion, representing a 16.06% year-on-year increase.

l  The Company retained a sound financial position with  strong resilience to withstand adversity. As of 31 March 2025, the Company's debt to asset ratio declined further to 41.97%; its net cash inflow from operating activities was RMB15.06 billion, up 69.49% year-on-year; and the balance of cash and cash equivalents amounted to RMB186.70 billion.

l  The Company attaches great importance to safeguarding shareholders' rights and interests. During the Reporting Period, the earnings per share was RMB0.74, representing an increase of 76.19% year-on-year. Equity attributable to the shareholders of the Company amounted to RMB244.13 billion, representing an increase of 4.03% as compared to the end of last year. Meanwhile, the annual dividend distribution plan and a new round of share repurchases are progressing steadily.

Since the beginning of 2025, COSCO SHIPPING Holdings has been continuously promoting the integrative development of “container shipping + ports + related logistics” services. It steadily expanded the global connections, accelerated the digital intelligence and green low-carbon transformation, continuously improved the quality of customer services, and enhanced shareholders’ returns determinedly.

Continuing development of global channel. In the first quarter, the Company launched Ocean Alliance DAY9 and non-alliance products. With successive launch of the WSA3 and WSA5 routes from China to South America, the China-Myanmar Express and the Europe-Western Africa routes along with the resumption of the AEU7 route, the layout of its global shipping routes was further optimized. Through continuous investments in main and feeder routes and ongoing development of sea-land intermodal channels, the service standards of each key hub port have been continuously upgraded. Chancay Terminal has evolved to be a “new driver” in promoting trade between Asia and Latin America, while Abu Dhabi Terminal has become the “top pick” for customers to carry out their businesses in the Middle East. During the Reporting Period, both of the container shipping business and terminal business sustained steady growth.

Value creation driven by full-chain services. The Company is committed to building a secure, resilient and efficient global supply chain system for customers. After more than two years of investments and development, it possessed greatly enhanced capability to implement global resource integration. In the first quarter, the Company launched the “block-train + sea-rail connection” program for industrial customers, the “less-than-container load” customized solution for small and medium-sized customers, and the innovative “pre-sale + localized service” model for overseas customers, which provide customers with seamless services from warehouse management, ocean shipping coordination to end-market response. In January-March 2025, the Company’s supply chain revenue other than ocean shipping reached RMB10.85 billion, up 14.39% year-on-year.

New momentum powered by digital-intelligence and green transformation. In terms of digital intelligence transformation, AI technology has been widely applied in different business scenarios of the Company. The transformation towards intelligent yards raised the vehicle entry and exit efficiency by 60% when compared with the beginning of this year. Moreover, with the winning of 7 patents for the new generation of intelligent cleaning robots and the theoretical handling volume of 8-hour rapid box washing mode reaching 200 items, the container turnover rate was significantly improved. In terms of green and low-carbon transformation, the Company’s first methanol dual-fuel powered container vessel was named “COSCO SHIPPING Yangpu”; and the electricity used at Chancay Terminal was entirely sourced from green power in the first quarter. The terminal obtained the internationally recognized green power certificate. In terms of ecosystem development, the GSBN’s leading data infrastructure and partner ecosystem had gained wider attention in the market, and COSCO SHIPPING Holdings had issued more than 480,000 electronic bills of lading over the GSBN digital platform.

Pragmatic approach to ensuring fair valuation of the Company’s stocks. In order to effectively safeguard the Company’s value and shareholders’ rights and interests, the Company announced a new shares repurchase plan in April 2025. As of 29 April, it had repurchased a total of 43 million A shares at a cost of approximately RMB0.6 billion. Prior to this repurchase, the Company had repurchased its A shares and H shares worth approximately RMB3.89 billion in aggregate from October 2024 to April 2025, and all the shares repurchased were canceled. The aforementioned initiatives fully demonstrate the Company's determination to ensure the market price of its stocks reflecting its intrinsic value.

Looking ahead, the container shipping industry will remain complex and volatile. Geopolitical tensions,  the Red Sea crisis and the wavering U.S. trade policy will continue to impact on the global cargo-flow structure. Besides,  the introduction of new environmental regulations on emission reduction will bring new development to the shipping industry. In view of these factors, COSCO SHIPPING Holdings will insist on its positioning as a “global digital supply chain operation and investment platform with primary focus on container shipping”.While closely monitoring global customers’ demand, the Company will adhere to forward-looking and systematic analysis, and continue to optimize the global resource layout. Through digital intelligence, high-efficiency operation, green and low-carbon transition, and operational optimization, the Company will tackle with challenges calmly, ride out uncertainties in the market with the certainty brought by its high-quality development, endeavor to provide customers with ever-improving services and create greater value for shareholders.