Cosco Shipping Development announces share repurchase and dividend plan

Cosco Shipping Development has unveiled a plan to repurchase 40 million to 80 million A-share ordinary shares through centralized bidding, with a price cap of RMB 3.81 per share. The estimated repurchase amount ranges from RMB 152.40m to RMB 304.80m, financed by the company’s own and self-raised funds, with the aim of reducing registered capital. This initiative, approved by the board of directors, is valid until the 2025 Annual General Meeting, expected by June 30, 2026.

Concurrently, the company also announced an interim cash dividend of RMB 0.22 per 10 shares for the first half of 2025, approved by the board of directors and the supervisory committee. This dividend payout, totaling RMB 290,348,428.04, is based on the total share capital after deducting shares held in the company’s dedicated repurchase account. The financial statements for H1 2025, showing total assets of RMB 130,288.29m and net profit of RMB 970.37m, were approved.

The company's controlling shareholder, actual controller, directors, supervisors, and senior management have no plans to reduce their holdings within the next six months. The board of directors confirms that the repurchase will not negatively impact the company’s operations, financial standing, or listing status.