COSCO SHIPPING Technology Co., Ltd.
2025 Board of Directors Work Report
In 2025, COSCO SHIPPING Technology Co., Ltd. (hereinafter referred to as "the Company") Board of Directors strictly followed laws and regulations such as the "Company Law" and "Securities Law," as well as the "Shenzhen Stock Exchange Stock Listing Rules," "Articles of Association," and "Board of Directors Meeting Rules." It diligently implemented all resolutions of the shareholders' meeting, continuously optimized corporate governance, further strengthened board construction and standardized operations, improved the scientific decision-making mechanism, diligently promoted various tasks, fully completed annual operating objectives, and effectively protected the legitimate interests of investors, driving the company's high-quality development. The work report for the Board of Directors in 2025 is as follows.
I. Solidly Advancing Business Operations
In 2025, the Company's Board of Directors supervised and guided the management in implementing the annual objectives and operating plan. Facing the difficulties and challenges brought by the severe market situation, the Company proactively adapted to market changes, continuously optimized its business structure, and actively explored new paths for high-quality development.
During the reporting period, the Company achieved operating revenue of 1.806 billion yuan, a year-on-year increase of 0.51%; total profit was 0.31 billion yuan, a year-on-year decrease of 77.39%; net profit attributable to shareholders of the listed company, after deducting non-recurring gains and losses, was 0.18 billion yuan, a year-on-year decrease of 84.73%.
II. Diligent and Responsible Board of Directors, Effectively Fulfilling Duties
(I) Board of Directors Organizational Structure
The Company's Board of Directors strictly followed laws and regulations such as the "Company Law," "Securities Law," and "Guiding Opinions on Corporate Governance of Listed Companies" in its work. The changes in the Board of Directors in 2025 are as follows: In April, the former Chairman and Director Mr. Liang Yanfeng resigned due to work adjustments, and the Company elected Mr. Wang Xinbo as Chairman. In November, Ms. Lin Yaxuan was elected as a non-independent director, Mr. Peng Xin was elected as an independent director, and Mr. Yang Min no longer served as an independent director. After the adjustments, the composition of the Board of Directors is: Chairman (1 person): Wang Xinbo; Directors (5 people): Wang Xinbo, Lin Yaxuan, Li Guorong, Dong Yuhang, Jiang Shifei; Independent Directors (3 people): Li Jiaming, Zhang Zhiyun, Peng Xin; Employee Director (1 person): Wang Chenggang.
The Board of Directors has established an Audit Committee, a Strategy Committee, a Nomination Committee, a Remuneration and Appraisal Committee, and a Risk and Compliance Management Committee. Among these, the Audit Committee, Nomination Committee, and Remuneration and Appraisal Committee have a majority of independent directors who also serve as conveners, and the convener of the Audit Committee is a professional accountant.
(II) Operations of the Board of Directors and its Special Committees
In 2025, the Board of Directors held 8 meetings and reviewed and approved 58 proposals. These included reviewing major matters such as the Company's periodic reports, capital increases in joint ventures, reform of the Supervisory Board, board elections, and the appointment of senior management personnel. The special committees of the Board of Directors diligently performed their duties in accordance with the "Articles of Association" and their respective working rules. Specifically, the Audit Committee held 5 meetings and reviewed 17 proposals; the Strategy Committee held 1 meeting and reviewed 1 proposal; the Nomination Committee held 2 meetings and reviewed 6 proposals; the Remuneration and Appraisal Committee held 1 meeting and reviewed 1 proposal; the Risk and Compliance Management Committee held 2 meetings and reviewed 3 proposals. The professional advantages and functional roles of the Board's special committees were fully utilized.