COSCO SHIPPING Holdings Co. Ltd.

Company Background

COSCO SHIPPING Holdings is China's major state-run shipping company. It owns a roughly 44% stake in container terminal operator Cosco Pacific. It also has container shipping company Cosco Container Lines and bulk carrier operator China Cosco Bulk Shipping (Group) under its umbrella.

China Cosco Holdings was established in March 2005. The company was listed on the Hong Kong Stock Exchanges and Clearing (HKEX) in June 2005 and on the Shanghai Stock Exchange in 2007.

The company is actively expanding overseas. In 2005, it acquired a 20% shareholding in a container terminal on the Suez Canal, in Egypt, and jointly began a high-speed shipping service from South China to the Middle East with Japanese shipping company Kawasaki Kisen Kaisha.

It has also started operating a terminal at the Port of Rotterdam, the Netherlands, with Japanese and South Korean companies. In addition, it has teamed up with Japan Freight Railway to pick up cargo at Japanese or Chinese ports and carry it by rail from there.

As of the end of 2014, Cosco Pacific had container berths at 123 locations at 21 ports around the world. Its annual handling capacity is 65.75 million TEU; it controls about 9.3% of the global share of the total transaction volume.

The company was able to transport 174 container ships, or 756,979 containers, as of the end of 2012. As of the end of 2011, it was able to transport 374 bulk carriers and had carrying capacity of 33.8 million tons.

Business Summary

COSCO SHIPPING Holdings Co. Ltd. engages in the provision of container shipping, managing and operating container terminals, and other terminal related businesses. It operates through the following segments: Container Shipping Business, Terminal Business, and Corporate and Other Operations. The Corporate and Other Operations segment consists of investment holding, management services, and financing. The company was founded on March 3, 2005 and is headquartered in Shanghai, China.

Financial Highlights

Dec 2022	HKD	USD
Revenue	454,753.40M	58,074.71M
Gross Profit	197,462.28M	25,217.10M
Operating income	184,486.55M	23,560.03M
Income before tax	191,716.64M	24,483.35M
Net income	127,549.32M	16,288.80M
EBITDA	208,133.95M	26,579.94M
Diluted EPS	7.89	1.00
Dividends Per Share	3.76	0.48
Total Assets	574,595.43M	73,619.36M
Total liabilities	289,954.55M	37,150.08M
Total equity	224,977.70M	28,825.00M
Operating cash flow	229,644.89M	29,327.01M
	Currency in HKD	Currency in USD

Historical Data

HKD | USD

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022
Revenue	142,539.88M	170,700.45M	192,442.41M	402,171.59M	454,753.40M
Gross Profit	9,747.14M	16,484.57M	26,284.91M	168,065.56M	197,462.28M
Operating income	3,270.23M	6,085.76M	15,875.06M	153,796.58M	184,486.55M
Income before tax	1,861.77M	2,266.78M	13,309.21M	151,402.55M	191,716.64M
Net income	1,282.83M	1,536.46M	11,155.01M	107,684.33M	127,549.32M
EBITDA	8,168.44M	19,735.56M	29,732.18M	169,509.32M	208,133.95M
Diluted EPS	0.09	0.43	0.62	6.69	7.89
Dividends Per Share	0	0	0	1.02	3.76
Total Assets	260,165.41M	293,322.59M	322,406.49M	506,768.51M	574,595.43M
Total liabilities	195,902.99M	215,999.42M	229,100.09M	287,241.21M	289,954.55M
Total equity	26,098.45M	39,553.17M	52,066.04M	163,543.06M	224,977.70M
Operating cash flow	7,250.49M	20,371.89M	48,358.52M	205,483.17M	229,644.89M

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022
Revenue	18,186.80M	21,786.36M	24,812.08M	51,740.64M	58,074.71M
Gross Profit	1,243.64M	2,103.91M	3,388.98M	21,622.16M	25,217.10M
Operating income	417.25M	776.72M	2,046.81M	19,786.41M	23,560.03M
Income before tax	237.54M	289.30M	1,715.99M	19,478.41M	24,483.35M
Net income	163.67M	196.09M	1,438.24M	13,853.92M	16,288.80M
EBITDA	1,042.21M	2,518.83M	3,833.44M	21,807.90M	26,579.94M
Diluted EPS	0.01	0.05	0.08	0.86	1.00
Dividends Per Share	0	0	0	0.13	0.48
Total Assets	33,229.50M	37,645.03M	41,580.18M	65,001.15M	73,619.36M
Total liabilities	25,021.61M	27,721.37M	29,546.62M	36,843.27M	37,150.08M
Total equity	3,333.41M	5,076.25M	6,714.86M	20,977.01M	28,825.00M
Operating cash flow	925.09M	2,600.04M	6,234.98M	26,436.05M	29,327.01M

Valuation Measures

Dec 2022
PER	0.89
ROA	23.59%
ROE	65.65%
Operating margin	40.56%
Profit margin	28.04%

Management

General Manager & Executive Director: Zhi Jian Yang
Chief Financial & Accountant Officer: Qi Zheng
Executive Director & Deputy General Manager: Wei Zhang
Deputy General Manager: Jian Ping Ye
Securities Affairs: Yue Ming Zhang

Shareholders

China State-Owned Assets Supervision & Admn Commission (11.1%)
The Vanguard Group, Inc. (4.2%)
BlackRock Fund Advisors (2.4%)
Da Cheng Fund Management Co., Ltd. (2.4%)
Dimensional Fund Advisors LP (1.2%)
BlackRock Investment Management (UK) Ltd. (0.8%)
Norges Bank Investment Management (0.8%)
BlackRock Advisors (UK) Ltd. (0.7%)
Geode Capital Management LLC (0.6%)
SSgA Funds Management, Inc. (0.3%)

Contact Details

Website:http://www.hold.coscoshipping.com
Address: Dong Da Ming Road, 8 Floor, No. 658, Shanghai, 200080, China
Phone: +86.21.60298620

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COSCO SHIPPING Lines (Dalian) Co., Ltd.

Competitors

Evergreen Marine Corp. (Taiwan) Ltd.
HMM CO.,LTD
ZIM Integrated Shipping Services Ltd.
Yang Ming Marine Transport Corp.
A.P. Moller - Maersk A/S Class B
Kawasaki Kisen Kaisha, Ltd.
Nippon Yusen Kabushiki Kaisha
Mitsui O.S.K.Lines,Ltd.
Hapag-Lloyd AG
Wan Hai Lines Ltd.
Singularity Future Technology Ltd.
Scorpio Tankers Inc.

Last Updated on 22 Sep, 2023