COSCO SHIPPING Holdings streamlines structure, appoints new non-executive director

COSCO SHIPPING Holdings announced a restructuring of its subsidiary Orient Overseas International's equity, transferring 469,344,972 shares from Faulkner Global Holdings Limited to COSCO SHIPPING Holdings (Hong Kong) Co., Ltd. This move, effective December 11, 2025, aims to optimize the internal equity structure and streamline governance. The total shareholding percentage of COSCO SHIPPING Holdings in Orient Overseas International remains unchanged at 71.07%.

Concurrently, the company announced the resignation of non-executive director Mr. Yu De, effective December 11, 2025, due to a job role change. Following this, the board approved the nomination of Mr. Wu Heng as a non-executive director candidate. Mr. Wu, aged 49, currently serves as the general manager of the Financial Services Department at SAIC Motor Corporation Limited. His nomination will be submitted for approval at the company's next general meeting.

The company also disclosed share repurchases, including 3,000,000 shares on December 11, 2025, at prices between HK$13.62 and HK$13.94, totaling HK$41,300,355.