On 24th August, the board of COSCO SHIPPING International (Hong Kong) Co. Ltd. announced the unaudited consolidated results of the Company and its subsidiaries (collectively the “Group”) for the six months ended 30th June 2018. On the same day, the Company held the interim results press conference and analyst meeting. Mr. Wang Yuhang, Chairman of the Board, hosted the press conference, while Mr. Zhu Jianhui, Vice Chairman and Managing Director, hosted the analyst meeting. Mr. Liu Gang, Vice Managing Director, and other senior management members of the Company have attended the meetings.

During the period, revenue of the Company was HK$4,788 million; profit attributable to equity holders of the Company was HK$184 million, down 10.47% year-on-year. Basic earnings per share were 12.01 HKcents. The Board suggested that the Company declare an interim dividend of 5 HKcents per share, with a payout ratio of 41.6%.

As at the end of June 2018, COSCO SHIPPING International had net cash of hand of HK$6.3 billion, which provides strong capital support for further development.

During the period, the Company has made remarkable achievements on restructuring and business expansion. In the first half of 2018, the Company and our parent COSCO SHIPPING (Hong Kong) have entered into the Management Services Master Agreement to substantially enhance its operational efficiency and facilitate the decision making process. On business expansion. the Company subscribed 33% equity interest in Nasurfar Changshu, enabling extension of the Company’s industry chain and create synergy across existing businesses.

Looking ahead, COSCO SHIPPING International will pursue its strategy of becoming a “shipping service industry cluster and non-financial business investment platform”. On construction of shipping service industry cluster, we are seeking a breakthrough from ship modernization and management specialization, as well as performing in the transformation and upgrading of existing businesses. At the same time, we are proactively seeking acquisition opportunities in and beyond COSCO SHIPPING Group, gradually shaping the core competitiveness of the Company.

On construction of non-financial business investment platform, we are consciously integrating with the country’s and COSCO SHIPPING Group’s development strategies, looking for investment opportunities in new economic frontiers and emerging industries, and seeking strategic partnerships involving new energy, new technology and new materials. The Company will strive to promote the rational embodiment of its corporate value in capital market.