COSCO SHIPPING Technology Co., Ltd.
2025 Annual Internal Control Evaluation Report
To all shareholders of COSCO SHIPPING Technology Co., Ltd.:
In accordance with the "Basic Norms for Enterprise Internal Control" and its supporting guidelines, and other internal control regulatory requirements (hereinafter referred to as the "Enterprise Internal Control Norms System"), combined with the Company's (hereinafter referred to as the "Company") internal control system and evaluation methods, based on daily and special supervision of internal control, we have evaluated the effectiveness of the Company's internal control as of December 31, 2025 (the "Evaluation Date of the Internal Control Evaluation Report").
I. Important Statement
In accordance with the requirements of the Enterprise Internal Control Norms System, the establishment, improvement, and effective implementation of internal control, the evaluation of its effectiveness, and the truthful disclosure in the internal control evaluation report are the responsibilities of the Company's Board of Directors. The Audit Committee supervises the establishment and implementation of internal control by the Board of Directors. The management is responsible for organizing and leading the daily operation of the Company's internal control. The Company's Board of Directors, directors, and senior management guarantee that this report contains no false records, misleading statements, or major omissions, and shall bear individual and joint legal liability for the authenticity, accuracy, and completeness of the report's content.
The objective of the Company's internal control is to reasonably ensure that business management is legal and compliant, assets are safe, financial reports and related information are true and complete, operating efficiency and effectiveness are improved, and development strategies are promoted. Due to the inherent limitations of internal control, it can only provide reasonable assurance for achieving the above objectives. Furthermore, changes in internal and external circumstances may cause internal control to become inappropriate, or the degree of compliance with control policies and procedures may decrease, which carries a certain risk in inferring the effectiveness of internal control in the future based on the results of the internal control evaluation.
II. Conclusion of Internal Control Evaluation
Based on the identification of material weaknesses in the Company's financial reporting internal control, as of the Evaluation Date of the Internal Control Evaluation Report, there were no material weaknesses in financial reporting internal control. The Board of Directors believes that the Company has maintained effective financial reporting internal control in all material aspects in accordance with the requirements of the Enterprise Internal Control Norms System and relevant regulations.
Based on the identification of material weaknesses in the Company's non-financial reporting internal control, as of the Evaluation Date of the Internal Control Evaluation Report, the Company has not found any material weaknesses in non-financial reporting internal control.
No factors have occurred between the Evaluation Date of the Internal Control Evaluation Report and the date of issuance of the Internal Control Evaluation Report that affect the conclusion of the evaluation of internal control effectiveness.