COSCO SHIP HOLD: Annual Report 2024

COSCO Shipping Holdings announced its 2024 annual results, during which revenue reached 233.86 billion RMB, a year-on-year increase of 33.29%; net profit attributable to shareholders was 49.17 billion RMB, a significant year-on-year increase of 106.09%. The company's return on equity (ROE) reached 22.63%, up 10.83 percentage points year-on-year. The Board of Directors proposed a final dividend of 1.03 RMB per share (pre-tax).In terms of business operation, container shipping volume increased by 10.12% year-on-year to 25.94 million TEUs, and the terminal business throughput increased by 6.06% year-on-year to 0.144 billion TEUs. The company extended its cooperation agreement with the Ocean Alliance partners until 2032 and launched new shipping products DAY8 and DAY9. During the period, 12 dual-fuel container ships with a capacity of...Show More

COSCO Shipping Holdings announced its 2024 annual results, during which revenue reached 233.86 billion RMB, a year-on-year increase of 33.29%; net profit attributable to shareholders was 49.17 billion RMB, a significant year-on-year increase of 106.09%. The company's return on equity (ROE) reached 22.63%, up 10.83 percentage points year-on-year. The Board of Directors proposed a final dividend of 1.03 RMB per share (pre-tax).In terms of business operation, container shipping volume increased by 10.12% year-on-year to 25.94 million TEUs, and the terminal business throughput increased by 6.06% year-on-year to 0.144 billion TEUs. The company extended its cooperation agreement with the Ocean Alliance partners until 2032 and launched new shipping products DAY8 and DAY9. During the period, 12 dual-fuel container ships with a capacity of 14,000 TEUs and 6 container ships with a capacity of 13,600 TEUs were ordered, while contracts were signed to retrofit 4 existing ships for methanol dual-fuel power.In terms of strategic development, the company increased its shareholding in COSCO SHP SG to 19% and invested in Midea Group Co., Ltd and Anjie Logistics. Additionally, it successfully acquired strategic equity in Shenzhen Yan Tian Port Holdings and completed the opening of the Peru Qian Kai Port. The company was included in multiple Hang Seng China Affiliated Corporations Indexes and selected as a constituent stock of the Hang Seng Sustainability Index Series for 2024-2025, while also winning several ESG awards, including the Golden Bull Award 'Top 100 ESG'.