COSCO Shipping Development announces share repurchase plans

COSCO Shipping Development Co. Ltd. announced a voluntary A Share Repurchase Plan and an H Share Repurchase Arrangement. The A Share plan, subject to shareholder approval, aims to repurchase 40 million to 80 million A Shares, representing approximately 0.3031% to 0.6062% of the company's total share capital as of August 29, 2025. The maximum repurchase price for A Shares is RMB3.81 per Share, with an estimated total fund allocation of RMB152.4m to RMB304.8m from its own and self-raised funds. All repurchased A Shares will be cancelled, reducing the company's registered capital.

The H Share Repurchase Arrangement will be implemented concurrently under a general mandate and does not require general meeting approval. The repurchases are intended to safeguard company value, boost investor confidence, and align the market price with intrinsic value. The board believes these actions will not materially impact daily operations, financial position, or listing status.

Separately, the company announced a delay in the despatch of its circular related to the 2025 Heavy Industry Shipbuilding Contracts. The new despatch date is expected on or before September 19, 2025, extended from the initial target of August 31, 2025, due to additional time required for preparing and finalizing information.