COSCO Shipping extends major connected transactions with proposed caps

COSCO Shipping Holdings has announced the renewal of several major and continuing connected transactions with its controlling shareholder and a subsidiary, effective from January 1, 2026, for a three-year term. These include the Master Shipping Services Agreement, Master Vessel and Container Asset Services Agreement, and Master Financial Services Agreement.

The proposed annual caps for purchasing shipping services from COSCO Shipping Group are RMB48,000,000 for 2026, RMB50,000,000 for 2027, and RMB53,000,000 for 2028. For provision of shipping services, the cap is RMB11,000,000 for each year.

The proposed annual caps for aggregate amounts payable by the Group for vessel and container asset leasing and manufacturing services are RMB20,000,000 for 2026, RMB22,000,000 for 2027, and RMB24,000,000 for 2028. For deposit services, the maximum daily outstanding balance is capped at RMB150,000,000 annually from 2026 to 2028, with loan services capped at RMB26,000,000 annually for the same period. These transactions are subject to Independent Shareholders' approval at an upcoming Extraordinary General Meeting on October 31, 2025.