COSCO SHIPPING Development shareholders back key related-party deals, director election

COSCO SHIPPING Development Company Limited held its third extraordinary general meeting of shareholders on December 15, 2025, in Shanghai. The meeting, presided over by chairman Zhang Mingwen, saw the approval of several significant proposals. Key among these was the resolution for a wholly-owned subsidiary to commission COSCO SHIPPING Heavy Industry for shipbuilding, which passed with 97.5392% of common shares in favor.

Shareholders also approved the 2026-2028 daily related-party transaction agreements with China COSCO SHIPPING Group Co., Ltd., covering various services including operating leases, financial leases, ship services, container services, integrated services, property lease services, trademark licensing, and management services. Additionally, the proposal regarding the financial services agreement with COSCO SHIPPING Group Finance Co., Ltd. for 2026-2028 was passed, with 95.2894% of common shares voting in favor.

Furthermore, the election of Zheng Xiaozhe as a non-executive director of the company was approved, receiving 99.7045% of total voting shares. The company also disclosed that it repurchased 500,000 H shares for HK$1.11 per share and 67,400 A shares for RMB 2.46 per share on December 15, 2025.