Announcement on Associated Transaction for Transfer of 35% Equity in Guangzhou Zhenhua Hangke Co., Ltd.
The Company and all members of its Board of Directors guarantee the authenticity, accuracy, and completeness of the information disclosed, and that there are no false records, misleading statements, or material omissions.
On April 29, 2026, COSCO SHIPPING Technology Co., Ltd. (hereinafter referred to as the "Company") held its Eighth Board of Directors' Fourth Meeting, which reviewed and approved the "Proposal on Associated Transaction for Transfer of 35% Equity in Guangzhou Zhenhua Hangke Co., Ltd." The Company intends to transfer the 35% equity it holds in Guangzhou Zhenhua Hangke Co., Ltd. (hereinafter referred to as "Zhenhua Hangke" or the "Target Company") to COSCO SHIPPING Bulk Carrier Co., Ltd. (hereinafter referred to as "COSCO SHIPPING Bulk Carrier"), an associated party (hereinafter referred to as the "Transaction"). Upon completion of this Transaction, the Company will no longer hold any equity in Zhenhua Hangke. The details are as follows:
I. Overview of the Transaction
To optimize the Company's industrial layout, focus on its core responsibilities and main business, and in conjunction with the business adjustments of the shareholders of its investee company, the Company and COSCO SHIPPING Bulk Carrier have, after friendly negotiation, agreed that the Company will transfer its entire 35% equity in Zhenhua Hangke to COSCO SHIPPING Bulk Carrier. Prior to this Transaction, the Company and COSCO SHIPPING Bulk Carrier held 35% and 65% of the equity in Zhenhua Hangke, respectively. Upon completion of this Transaction, the Company will no longer hold any equity in Zhenhua Hangke.