[ET Net News Agency, 31 January 2018] COSCO SHIPPING Holdings (01919) said it expects
to record a net profit for the year ended 31 December 2017 of about Rmb2,700 million, as
compared to the net loss of about Rmb9,906 million for the previous financial year.
Following the completion of business consolidation and restructuring and the increase in
delivery of new vessels, the shipping capacity of COSCO SHIPPING Lines Co., Ltd., a
wholly-owned subsidiary of COSCO SHIPPING, expanded significantly. The layout of shipping
routes were further optimized. The average income per unit and the cargo volume of the
container shipping business increased as compared to the same period of last year and the
operational benefits were enhanced.
During the reporting period, COSCO SHIPPING Ports Limited, a subsidiary of COSCO
SHIPPING, implemented various types of work in accordance with the established strategies
of the Group. COSCO SHIPPING has achieved remarkable results in its strategies of "global
layout of ports", "construction of holding network" and "terminals to ports". The value of
COSCO SHIPPING was released continuously, the port business maintained steady development
and the operational benefits increased steadily. (HL)