(18 August 2021, Hong Kong) The board of directors (“the Board”) of COSCO SHIPPING International (Hong Kong) Limited (“COSCO SHIPPING International (Hong Kong)” or the “Company”, stock code: 00517.HK) today announced the unaudited condensed consolidated results of the Company and its subsidiaries (collectively, the “Group’’) for the six months ended 30th June 2021.

During the first half of 2021, the global economy performed positively. Pandemic has been eased in Europe and in the United States with the acceleration of vaccination campaigns that facilitated continuous recovery of the global economy. China has made further achievements in pandemic prevention as well as economic and social development, which highlighted the country’s economy was improving steadily quarter by quarter, demonstrated strong resilience and vigorous vitality. As a result, the demand of shipping market that was constrained during the pandemic continued to unleash and consequently spurred the demand for shipping services.

PBT of the core shipping services businesses up 30% YoY

By leveraging on the competitive advantages from the brand and resources of COSCO SHIPPING Group, COSCO SHIPPING International (Hong Kong) continued to strengthen its market penetration and service scope, and achieved remarkable results in the first half of the year.

The Group’s profit before income tax from core shipping services business increased by 30% year-on-year, that demonstrated the continuous improvement of the Group’s operational efficiency, profitability, stable growth and quality, also showcasing our excellent countercyclical and resilience properties.

Interim DPS 10.0 HK cents, up 54% YoY, Focus on Shareholders’ Return

During the period, profit attributable to equity holders of the Company was HK$159,592,000 (2020: HK$131,625,000), while the basic and diluted earnings per share was 10.41 HK cents (2020: 8.59 HK cents), representing an increase of 21% as compared to the same period of last year. The Board has declared an interim dividend of 10 HK cents (2020: 6.5 HK cents) per share, payout ratio was 96% (2020: 76%).

The Board decided to increase the interim dividend that denoted the ample financial resources of the Company and highlighted the long Company’s long-standing commitment to maximize shareholders’ return as well as share with shareholders the beneficial outcomes from the growth of the Company’s core businesses. COSCO SHIPPING International (Hong Kong) will adhere to its commitment of maximizing shareholders’ return by promoting operational efficiency and capital optimization.

Looking forward into the second half of 2021, the arrival of the peak season of the shipping market, demand for dry bulk and container shipping will remain robust, as a result, strong demand for shipping services is expected to endure in the second half. The Group will have an in-depth research on the market segmentation to seek new business breakthroughs, continue to persist prudent cost management and promote continuous growth in operational efficiency. COSCO SHIPPING International (Hong Kong) has its strong support from COSCO SHIPPING Group, solid financial fundamentals and stable cashflow, those are the irreplaceable edges of the Company to make further achievements and create value for our shareholders.

Results Highlights

Editorial Note

The announcement of 2021 interim results is available on the websites of the SEHK (www.hkexnews.hk) and the Company’s website (www.hk.coscoshipping.com).

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PR Division of COSCO SHIPPING International (Hong Kong) Limited