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Public company info - COSCO SHIPPING Holdings Co. Ltd.- H Shares , 01919.HK
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COSCO SHIPPING Holdings Co. Ltd.- H Shares, 01919.HK - Company Profile
Chairman Xu Lirong
Share Issued (share) 2,581,000,000
Par Currency Renminbi
Par Value 1.0
Industry Marine & Harbour Services
Corporate Profile Business Summary: The Group is engaged in a range of container shipping, managing and operating container terminals services on a worldwide basis. Performance for the year: Revenues from continuing operations of the Group for the year 2020 was RMB171,258,834,000, representing an increase of RMB20,718,243,000 as compared to 2019. Profit attributable to equity holders of the Company for the year 2020 was RMB9,927,098,000 as compared to RMB6,690,106,000 for the year 2019, of which profit attributable to equity holders of the Company arising from continuing operations for the year 2020 was RMB9,927,098,000 as compared to RMB1,355,004,000 for the year 2019. Business Review Container shipping market In recent years, the progress of globalization was facing challenges, the global economy was on a winding path to recovery, and the growth in demand for container transportation was slow and flat. On the other hand, under the background of the regular epidemic prevention and control, the center of the world’s economic and trade arena had gradually shifted to emerging economies, and the rapid development of trade regionalization had made the “diversity” characteristics of global trade become increasingly obvious. As trade becomes more fragmented with a widening participation level, new ideas on collaboration among global industries are advocated, and they bring more challenges to the timeliness, organizing ability and professional ability of container transportation logistics for the whole process. The rapid development of more efficient trading sectors, such as building land and sea passages for international trade and China-Europe railway lines, will drive the traditional transportation model towards entire process and integration development. Operation strategies of mainstream shipping liners gradually change, and it is a general trend to extend the business scope to upstream and downstream of the supply chain. Under the trend of gradually transforming container transportation service into a whole-process logistics service, the future development of the industry will show more resilience. The COVID-19 epidemic has further promoted the digitization development of the shipment industry. New technologies such as blockchain cloud computing, big data and artificial intelligence will bring innovative ideas and efficiency enhancement to container liners to accelerate and drive the industry to a more efficient, convenient and intelligent development channel. In addition, technological innovation driven by energy-saving and emission reduction, fuel switch under the environmental protection regulations, and vessels renewal under the clean shipping trend will continue to play a key role in the development of the supply side. After a series of reorganization and integration in the industry, mainstream shipping liners have basically realized economies of scale, and the combining capability and first-mover advantages of industry leading companies were further demonstrated. With higher concentration in the industry, the market competition landscape will be more rational. With the deepening of allied cooperation, the scope of allied cooperation operation will continue to expand in the future. Under the background of the regular epidemic prevention and control globally and the new trade pattern, the focus of industry competition will gradually shift to value creation. The transformation of shipping liners from maritime transportation carriers to integrated logistics service providers, combined with the acceleration of shipping digitization construction under the opportunity of digitization development and the shift from providing homogenized services to providing differentiated services, will make the industry competition landscape more diversified. Terminal business market Efforts of cooperation among global terminal operators are also expanding and deepening. On the one hand, this is conducive to enhance the competitiveness of the terminal business and respond to pressure from alliances; on the other hand, this is also conducive to lower operating costs and operating risks for terminal operators. The deep cooperation among global terminal operators will generate a multiple-winner situation, which is beneficial for the continuous, stable and healthy development of the terminal industry. Terminal operators have participated in the entire supply chain business one after another, striving to realize diversified sources of income, and associating transportation with cargo owners more closely. This has become a main point for terminal operators to enhance bargaining power of pricing at the ports and to enhance competitiveness. In order to effectively respond to the rising bargaining power of shipping alliances, and to enhance terminal operation capabilities and service quality effectively, the pace of consolidation among port enterprises in the world has been increasing rapidly, with closer cooperation, and the concept of competition and cooperation has been deeply rooted in the mind of people. Efforts of horizontal cooperation between port enterprises and shipping enterprises are also increasing, synergies exist not only between parent company and subsidiaries, but also between port enterprises and shipping enterprises. While the benefits, efficiency and effectiveness of synergies continue to increase, the potential of a multiple-winner landscape is also deepening and expanding. Terminal operators with a shipping company background will exert more efforts on synergy and are expected to have an advantage in the competition for cargo sources. Investment in terminals will continue to focus on emerging markets, and will move from the traditional node of east-west shipping routes to the node of north-south shipping routes. In future, The Group will focus on potential layout in emerging markets, such as Middle East, Africa, Southeast Asia and South America. Large size container vessels have commenced operations successively, the network of global trunk routes has been undergoing a new round of adjustment and optimization. Meanwhile, the port industry has been developing along the trends of digitization, automation, blockchain technology, intelligent port and green and low-carbon port, utilizing artificial intelligence and consolidating maritime shipping and highway services to generate synergies and provide comprehensive services for cargo owners. This will become a catalyst for enterprise transformation and upgrading in response to development in the new era. Prospects: COSCO SHIPPING Holdings will endeavor to become one of the most popular benchmark companies with the highest international brand value in the transportation sector of capital market, as well as one of the most comprehensively competitive and most influential multi-national enterprise groups in both container shipping and terminal around the world, by continuously promoting the strategies and business synergies of both the container shipping segment and terminal operation management segment, continuously enhancing comprehensive competitiveness, and promoting high-quality development. On the container shipping segment, the Company will advance the “three networks” integrated development of global shipping capacity route network, end-to-end service network and digital information network, promote the simultaneous upgrade of global sales network and global service network, build a new strategic pattern of “Three Networks in One and Five Dimensions in One” of mutual support, organic integration and cyclical promotion, and continue to promote the maximization of brand value and benefit specialization to approach the goal of becoming a “customer-oriented, value-leading and world-class integrated container ecosystem service provider”. On the terminal operation management segment, the Company will strive to be the global leading integrated port operator through the two-wheel drive development of “M&A-driven leapfrog growth” and “refined operation”, supplemented by three major changes of “establishing informatized and digitalized platform”, “building industrial chain extension support center”, and “improving organizational control and talent training system”. The Group will continue to strengthen and develop container shipping, terminal operation management and related businesses by improving the shipping value chain. Through collaborated and refined management, and continuous enhancing the comprehensive competitiveness of container shipping and port services, the healthy, stable and sustainable development of the core business will be further promoted to provide better quality service for customers and realize corporate benefits, enterprise value and maximized return for shareholders.

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