COSCO SHIPPING Holdings Achieved Net Profit Attributable to the Shareholders of RMB 5.88 Billion in Q1 2026

(29 April 2026, Shanghai) COSCO SHIPPING Holdings Co., Ltd. ("COSCO SHIPPING Holdings" or "the Company", SSE: 601919; HKEx: 1919) today announced its quarterly results for the first quarter of 2026.

In the first quarter of 2026, the safety and stability of global shipping industry was adversely impacted by multiple factors like the conflicts in the Middle East, resulting in persistent fluctuations in the shipping market. Amid the rapidly changing external environment, COSCO SHIPPING Holdings reinforced market analysis, dynamically optimized the global network layout and customer services, drove innovation and promoted digital intelligence and green transformation. With the certainty derived from its own development, the Company ensured its global service capability and operational resilience, maintaining relatively stable operating results in the period.

• Achieving Stable Q1 Operating Results. In the first quarter, the Company realized operating revenue of RMB 51.80 billion and an EBIT of RMB 8.76 billion. The net profit of the Company amounted to approximately RMB 6.88 billion; and the net profit attributable to the shareholders of the Company climbed by 54.72% quarter-on-quarter to approximately RMB 5.88 billion.

• Steady increase in core business volume. During the reporting period, the container shipping business segment handled shipping volume of 6.92 million TEUs, representing an increase of 6.70% year-on-year. Meanwhile, the container terminal business segment handled a total throughput of 38.92 million TEUs, representing an increase of 8.86% year-on-year.

• Retention of sound financial position. As of 31 March 2026, the Company's debt-to-asset ratio further declined to 40.90%. The equity attributable to the equity holders of the Company reached RMB 235.69 billion, representing an increase of 1.47% compared to the end of the previous year; the net cash inflow from operating activities was RMB 11.13 billion and the cash and cash equivalents amounted to RMB 149.70 billion.

For the year to date, COSCO SHIPPING Holdings has proceeded with the integrative development of "container shipping + ports + related logistics" businesses. While reinforcing the core shipping operation, it enhanced the full-chain service capability and accelerated the transformation towards digital intelligence and green development, striving hard to create a stable, efficient and resilient global supply chain network with strong risk-resistance capacity.

Expansion of global network to ensure stable and reliable services. COSCO SHIPPING Holdings remained steadfast in strengthening the competitiveness of its core business. Through the improvement of global shipping network, the Company effectively enhanced its core capability to ensure the stability of global supply chain and to bolster customer service standards. During the reporting period, it closely monitored the changing trends in global trade and cargo flow. In addition to sharpening its competitive edges in the Chinese market, the Company further expanded into emerging markets, in particular the Southeast Asian market. The direct shipping route between Yangpu and Haiphong was upgraded along with the addition of new routes from Southeast Asia to the Northwest America/Canada. It made relentless efforts to forge a number of highly competitive, superior and widely recognized signature shipping routes. The Company fortified the partnership with the Ocean Alliance to enhance its operations and meticulously developed the Day10 Product. With the full-chain support from 42 shipping routes, more than 500 direct port-to-port services and land-sea intermodal transport, it delivered customers with more stable services, higher quality products and more diverse choices, thereby bolstering the resilience of global industrial and supply chains. These achievements were widely acclaimed in the market. During the reporting period, the freight volumes handled by the Company on Asia-Europe routes, Intra-Asia routes and Mainland Chinaroutes increased by 14.23%, 6.07% and 14.92% year-on-year, respectively.

Emphasis on long-term development along with optimization of fleet structure. In order to better address the changes in global cargo flow pattern, frequent supply chain disruptions, and increasingly stringent green and environmental regulation, COSCO SHIPPING Holdings has been actively promoting fleet structure optimization and upgrading. Following the orders placed earlier this year for twelve 18,000 TEU LNG dual-fuel powered container vessels and six new 3,000 TEU wide-body vessels, the Company today announced an additional order for twelve 13,600 TEU LNG dual-fuel powered container vessels. At the same time, by chartering a series of new vessels with high reefer plug capacity and new wide-body feeder vessels, it will further improve its multi-tier capacity deployment system. With the aforementioned vessels put into service, the Company will sharpen its competitive edges in traditional European and American trunk routes and actively expand the connection of its feeder network with key hub ports such as Piraeus in Greece, Chancay in Peru and Yangpu in Hainan. These initiatives will strengthen the mainline-feeder coordination and regional connectivity, providing more stable and reliable long-term capacity resources for it to explore emerging and regional markets. Currently, the aggregate capacity of the Company's self-operated vessels and new vessels orderbook amounts to approximately 4.84 million TEUs, laying a solid foundation for it to retain top ranking in the shipping industry.

Enhanced full-chain service capability to satisfy core customer needs. In view of meeting customers' demand for efficient, resilient and safe full-chain transportation services, COSCO SHIPPING Holdings accelerated the development of its comprehensive service capability in overseas markets and drove the integration of shipping and supply chain resources. A full-chain service system comprising shipping, land transportation, warehousing and last-mile delivery was established, resulting in remarkable improvement in delivery efficiency and transportation controllability. During the reporting period, the Company took advantage of cross-port collaboration to build a "trans-oceanic land bridge" connecting North America with the five Central Asian countries, completing more than 20,000 kilometers of precise door-to-door deliveries for manufacturing customers using the "one consignment for end-to-end delivery" services. Boasting professional and efficient logistics services, stable and reliable supply chains, and ever-innovating solutions, the Company gained wide market recognition and received numerous awards such as the "Excellent Strategic Partner" and the "Best Delivery Award". During the reporting period, the digital supply chain business achieved steady growth amid adverse market condition. The revenue from container shipping business segment other than ocean shipping amounted to RMB 11.53 billion, representing a 6.25% year-on-year increase.

Deepening of digital intelligence and green development to strengthen the operation and services. Powered by the dual engines of digital intelligence and green low-carbon development, COSCO SHIPPING Holdings expedited the business system upgrade to create new growth drivers. As for the application of digital intelligence, the Company deepened the integration and application of "AI+" technology across all business scenarios. During the reporting period, AI-powered intelligent document processing and AI-enabled container repair and quality inspections were launched successively along with the stable operation of new intelligent slot booking and customer service systems. As a result, its operational efficiency and service responsiveness were continuously improved. As a pioneer in low-carbon environmental protection, the Company has now ordered a total of 70 dual-fuel powered container vessels, of which 7 have already been put into operation, forming a globally leading green and low-carbon capacity matrix in terms of scale. Furthermore, the Company successfully completed Hong Kong's first green methanol bunkering with simultaneous cargo handling at the COSCO-HIT Terminals. It also promoted the application of Hi-ECO green shipping product and further expanded its global green shipping service network.

Looking ahead, the global container shipping market will remain complex and volatile, as geopolitical tensions are escalating and potential supply chain risks are rising. The demand and supply condition of container shipping market will become increasingly volatile. Against this backdrop, shippers' demand for supply chain stability and the controllability of entire supply chain will continue to grow. Meanwhile, the opportunities in regional and emerging markets still exist. The deeper adoption of digital intelligence and AI technology will be a major engine to drive the transformation and upgrading of the shipping and logistics industry and to shape its competitive edges.

Against this background, COSCO SHIPPING Holdings will adhere to its positioning as a "global digital supply chain operation and investment platform with primary focus on container shipping". It will remain committed to the customer-centric approach, sustain the strategic focus, and insist on global, large-scale, full-chain, digital intelligent, green and integrative development. The Company will attach great importance to enhancing its risk management capability, lean cost control capability, service quality and the delivery assurance capability. Underpinned by the certainty brought by its own development, the Company will strive hard to address the uncertainties of the external environment, make vigorous efforts to provide customers with ever-improving services and continue to create value for shareholders.