Cosco Shipping Development secures loan for share buyback

COSCO SHIPPING Development (SSE: 601866) announced it has received a loan commitment from Bank of China's Shanghai branch to support its planned A-share repurchase. The loan amount will not exceed CNY 254.16 million, with a term of no more than three years, and the commitment is valid for one year from the date of issuance. This loan will support the share repurchase plan, which was approved on April 8, 2025, to buy back between 40 million and 80 million A-shares at a price not exceeding CNY 3.53 per share. The repurchased shares will be canceled to reduce registered capital. The loan is subject to relevant laws, regulations, and policy compliance, including approval from relevant state authorities.