COSCO Shipping Development updates governance, share structure

COSCO Shipping Development has approved an updated articles of association, reflecting changes to its capital structure and governance. As of April 2025, the company's registered capital is RMB13,356,617,112, following the cancellation of repurchased A and H shares. The revised shareholding includes 3,528,899,000 H shares (26.42%) and 9,827,718,112 A shares (73.58%) of the total ordinary shares issued.

The updated articles also detail the establishment of a Communist Party Committee within the company, emphasizing its leadership functions in providing direction and ensuring implementation on major issues. The board of directors must seek opinions from this committee before making major decisions.

Furthermore, the company has adopted new working rules for its audit committee and investment strategy committee. The audit committee, composed of non-executive and independent directors, will oversee financial information, internal controls, and external audit work. The investment strategy committee will focus on long-term development, major investment, and financing schemes, with its chairman also leading the audit committee and risk and compliance management committee.