On September 24, 2024, China Shipbuilding Offshore & Marine Engineering Co., Ltd. (CSSC Offshore & Marine Engineering, Stock Code: 600685.SH / 0317.HK) and CSSC Shipping (China CSSC Shipping, Stock Code: 3877.HK) successfully held the 2024 mid-year performance joint press conference at the Shangri-La Hotel in Admiralty, Hong Kong. Mr. Chen Liping, Executive Director and General Manager of CSSC Offshore & Marine Engineering, Mr. Li Hongtao, Executive Director and Chairman of China CSSC Shipping, and many other company executives attended the meeting. The conference invited over 100 institutional investors, analysts, and media representatives to participate. The meeting introduced the 2024 mid-year operational performance, business and investment highlights, and future key work deployments and prospects of CSSC Offshore & Marine Engineering and China CSSC Shipping, providing comprehensive, accurate, and in-depth answers to the issues of concern and focus of the capital markets.

The joint performance press conference was divided into two parts: the first part was an introduction by the management of CSSC Offshore & Marine Engineering on the 2024 mid-year performance and an interactive question-and-answer session with participating investors and analysts, while the second part was an introduction by the management of China CSSC Shipping on the 2024 mid-year performance and an interactive question-and-answer session with participating investors and analysts.

Firstly, the management of CSSC Offshore & Marine Engineering elaborated on the company's performance and overall situation in the first half of 2024, conducted a detailed analysis of financial data, and outlined the company's future development strategy and grand vision. In the first half of 2024, the company achieved operating income of 8.729 billion yuan, a year-on-year increase of 45.91%. The company undertook contracts totaling 13.343 billion yuan, with a total order contract value of approximately 61.35 billion yuan, including an on-hand shipbuilding order contract value of approximately 59.69 billion yuan. The company has established the strategic goal of becoming an internationally leading comprehensive marine industry developer, dedicated to creating high-quality marine equipment, strengthening the military, deepening ocean exploration, promoting harmonious development, and becoming a world-class listed company in marine equipment manufacturing, research and development, and services integration.

Subsequently, investors and analysts showed a high level of attention and rigor towards the company's business, actively raising a series of in-depth and professional inquiries. The management of CSSC Offshore & Marine Engineering, including Mr. Chen Liping, Executive Director and General Manager, and Mr. Hou Zengquan, CFO, answered the various questions raised by the investors in a thorough and detailed manner.

Finally, Mr. Chen Liping, Executive Director and General Manager of CSSC Offshore & Marine Engineering, summarized the company's mid-year development in 2024: "Facing the new normal of the shipbuilding market, the company adheres to the corporate spirit of 'innovation, efficiency, collaboration, and win-win', follows the development philosophy of 'insisting on a balance between manufacturing and services', actively constructs the three major industrial layouts of 'marine defense equipment', 'ship marine equipment', and 'marine technology innovation applications', comprehensively aligns with major strategies such as the Belt and Road Initiative, civil-military integration, building a manufacturing power, and building a marine power, takes 'structural optimization, deepened reform, innovative development' as the main line, promotes the extension of traditional manufacturing industries towards more valuable directions, strengthens and optimizes the main business, vigorously expands emerging industries, accelerates the transformation and upgrading of the company, and achieves high-quality development."

As the meeting smoothly transitioned to the second part, Mr. Wang Hai, Board Secretary of China CSSC Shipping, provided a detailed interpretation of the company's major operational performance in the first half of 2024, accurately highlighting the highlights in operations and investment areas, and outlining a clear blueprint for the company's future direction and prospects. In the first half of 2024, the company achieved revenue of 1.966 billion Hong Kong dollars and a profit of 1.34 billion Hong Kong dollars, representing year-on-year growth of 13.5% and 22.9% respectively. The company firmly implements the "counter-cyclical investment, cyclical operation" cross-cycle control strategy, upholds the concept of professionalism, efficiency, and innovation, adheres to the values of sustainable development and a long-term perspective, sticks to the development strategy of green leasing and green shipping, and achieves new highs in operational performance.

During the question-and-answer session, investors raised several constructive questions regarding the company's business development strategy, dividend payment policies, and other core issues. The management of China CSSC Shipping, including Mr. Li Hongtao, Executive Director and Chairman, and Mr. Li Xi, General Manager, provided detailed and thoughtful answers to the series of questions raised by the investors.

Mr. Li Hongtao, Executive Director and Chairman of the Board of Directors of cssc shipping, summarized the company's mid-term development in 2024: "The company will actively respond to customer needs, optimize asset structure, and the pace of new ship deployment using its own advantages; actively optimize the structure of ship assets, and further transform the fleet structure towards green, young, and high value-added direction. At the same time, the company also actively monitors market trends and the impact of geopolitical factors, continues to do well in asset management and risk control, strengthens cost control of funds, and further explores a variety of currencies and diversified financing channels under the premise of controlling exchange rate risks. Meanwhile, the company will actively implement the relevant requirements of the State-owned Assets Supervision and Administration Commission of the State Council for central SOEs listed companies, closely communicate with the capital markets, further promote the company's business philosophy and development strategy to the capital markets, strive to improve market performance through efficient operation, steady growth, high dividends, and actively return to the broad investors."

In the future, cssc offshore & marine engineering and cssc shipping will further strengthen the close connection with investors, actively build unobstructed communication bridge in order to achieve in-depth interaction and efficient communication with all sectors of the market. The company is committed to enhancing the comprehensive understanding of the company's business, strategy, and value by the market, through deepening information disclosure, enhancing transparency and other measures, continuously enhancing the in-depth understanding and trust of investors in the company, thereby winning wider social recognition and market praise.