COSCO SHIPPING Holdings Co., Ltd.*
1919
6 16 17 18
19 30
183 47
1171 5
24
H 183 17M
(COVID-19)
*
............................................. 1
.............................................................. 2
........................................................ 6
................................................. 17
................................................... 19
......................................... I-1
......................................... II-1
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . III-1
–i–
(i)
37.5
(ii)
(iii)
(iv)
(v) (a)
14 (b)
183 48 investor@coscoshipping.com
H
183
17M
hkinfo@computershare.com.hk
2862 8555
2865 0990
–1–
A 1.00
H
1919 A
601919
H
2866 A
601866
–2–
1199
74
H 1.00
–3–
6
CMA CGM Evergreen Line
16
–4–
571
A H
TEU 20 20 * 8 6 *
8
581,603TEU 74
%
–5–
COSCO SHIPPING Holdings Co., Ltd.*
1919
1
1
1
2
12
2
2
2
183
48
1
2
A.
(i)
(ii) (iii)
(iv)
*
–6–
(v)
74
74
(1)
(2)
(i)
25
–7–
(ii)
25
20
20
74
5.7 17.8
20
74
70
581,603TEU 12.2
–8–
74
4,618,343,445
20
15
–9–
100
74
70
(i) 9,000TEU
9,000TEU
(ii) 9,000TEU
(i)
(ii)
25 (iii) 9,000TEU
(iv) 9,000TEU
25
366
– 10 –
(i) (ii)
(iii) (a)
9,000TEU
(b) 9,000TEU
(i)
(ii)
(i)
– 11 –
74 581,603TEU 12.2 49
9,000TEU 25 9,000TEU
74
74
74
74
74
74
– 12 –
B.
H
A
H
A
C.
16
– 13 –
14
14.04(1)(a)
25%
100% 14
14
5,579,222,079
A 87,635,000 H 46.22%
14A
5%
14A
D.
– 14 –
E.
183 47 1171 5
24 H
183 17M
13.39(4)
13.39(5)
5,579,222,079 A 87,635,000
H 46.22%
– 15 –
F.
17 18 19
30
(i) (ii)
(i)
(ii)
G.
– 16 –
COSCO SHIPPING Holdings Co., Ltd.*
1919
(i)
(ii)
19 30
(i) (ii) (i)
(ii)
– 17 –
*
– 18 –
71
19
1.0
6.7
74
14A
– 19 –
(i)
(ii)
(i)
(ii)
(316 HK)
(i)
(ii)
(iii)
(i)
(ii) (iii)
– 20 –
13.80
1
1.
96% 97%
– 21 –
1.1.
90,399 120,342 150,541 71,762 74,053
7,637 9,616 15,329 7,362 6,843
5,664 4,999 7,223 3,796 3,411
4,831 2,830 3,081 1,864 1,938
– 196 7,113 151 –
4,831 3,026 10,194 2,015 1,938
2,662 1,230 6,690 1,164 1,137
(a)
90,399 120,342
33% (316 HK)
7%
8% 5,664
4,999
(i)
1,886
(ii)
1,585
1,663
3,427
5% 2%
4,831
3,026
– 22 –
(b)
120,342 150,541
25% (316 HK)
7%
8%
10%
4,999 7,223
3,427 5,224
2%
196 7,113
3,026 10,194
(c)
71,762 74,053
3% 10%
9%
3,796
3,411
2,662
2,145
3%
2,015
1,938
– 23 –
1.2.
190,125 188,606
72,099 65,776
262,224 254,382
70,471 69,228
122,628 114,252
193,099 183,480
35,360 36,911
33,765 33,991
69,125 70,902
(i) 106,737
45,403 (ii)
115,011
36,911
1.3.
– 24 –
190
IMF GDP
GDP +3.8% +3.5% +2.8% -4.4% +5.2% +4.2% +3.8%
+6.9% +6.8% +6.1% +1.9% +8.2% +5.8% +5.7%
+2.3% +3.0% +2.2% -4.3% +3.1% +2.9% +2.3%
+5.6% +3.9% +1.0% -10.4% +8.3% +5.4% +4.3%
IMF
IMF (i)
(ii)
GDP
0.6%
2.
H 2866
A 601866
– 25 –
78% 74%
87 60.94 TEU
6.4 4 80
366 TEU
3.
TEU
103 969,635
74 581,603
253 819,892
430 2,371,130
74
10
8,000TEU
8,000TEU
(i)
20
(ii)
– 26 –
74
(iii)
(i)
(ii) (iii)
(iv)
(v)
4.
20 (i)
70
25 (ii)
25
25
– 27 –
74 7.2 19.8
12.8 11.8 (i)
(ii)
10 20
15
(i) 9,000TEU
(ii)
9,000TEU
(iii)
(i)
100
(ii)
(i)
(ii)
– 28 –
(i) (ii)
(iii) (iv)
(i)
(ii) (iii)
5.
(i)
150,541
6,690 21,202 (ii)
254,382 70,902
45,403
324
2,171
4,618 30,941
16
23,531
– 29 –
(i)
74 (ii) (iii)
(iv)
(v)
571 6
– 30 –
1.
42 88 (http://hold.coscoshipping.com)
https://www1.hkexnews.hk/listedco/listconews/sehk/2020/0918/2020091800336.pdf
142
284 (http://hold.coscoshipping.com)
https://www1.hkexnews.hk/listedco/listconews/sehk/2020/0424/2020042400675.pdf
137
276 (http://hold.coscoshipping.com)
https://www1.hkexnews.hk/listedco/listconews/sehk/2019/0424/ltn20190424870.pdf
131
264 (http://hold.coscoshipping.com)
https://www1.hkexnews.hk/listedco/listconews/sehk/2018/0426/ltn201804262207.pdf
– I-1 –
2.
(IMF)
4.9% 1.0%
1,177.09
5.46% 38.60 82.14%
– I-2 –
3.
16
23,531
(i) 40
(ii)
16
23,531
23,531
– I-3 –
4.
1,047.18
27,978
50,743
48
2,413
15,815
521
6,810
390
104,718
250.15
– I-4 –
(i) 442.52
(ii)
(iii)
(iv) 2.05
5.
12
– I-5 –
1. 4,000-
5,000 TEU
2. 5,000-8,999 TEU
3. 9,000 TEU 12,000 TEU
1.
2.
– II-1 –
3.
4.
1.
2.
25
3.
– II-2 –
14,074 TEU
4,738 TEU
(TEU)
18,982 5 5.9 19.1
14,074 6 9.1 15.9
14,074 * #
2 9.8 15.2
10,036 8 6.5 18.5
9,572 4 14.0 11.0
8,468* 1 16.4 8.6
8,533 5 12.5 12.5
5,668/5,688 13 16.9 8.1
4,738 8 8.0 17.0
4,250 18 14.5 10.5
4,051 4 17.0 8.0
74 12.2
1. 14,074 TEU 14,074 TEU#
(CSCL STAR) (CSCL VENUS)
2. 8,468 TEU 8,533 TEU
4. 9,000 TEU
5.
WACC
– II-3 –
6. 9,000 TEU
25
366
(TEU)
18,982 56,285 20.6
14,074 44,445 16.3
14,074 #
44,497 16.3
10,036 39,071 14.3
9,572 35,077 12.8
14,074 TEU 14,074 TEU#
(CSCL STAR) (CSCL VENUS)
7.
1. 9,000 TEU
9,000 TEU
– II-4 –
WACC
9,000 TEU
(TEU) 18,982 14,074 14,074# 10,036 9,572
5 6 2 8 4
19.1 15.9 15.2 18.5 11.0
22,113 26,854 26,379 15,265 12,054
14,074 TEU 14,074 TEU#
(CSCL STAR) (CSCL VENUS)
2. 9,000 TEU
9,000 TEU
9,000 TEU
– II-5 –
(TEU) 8,468 8,533 5,668/5,688 4,738 4,250 4,051
(TEU) 8,500 8,500 6,800 4,738 4,400 4,400
21,324 21,324 17,796 16,007 11,033 11,033
8,468 TEU 8,533 TEU
9,000 TEU
1%
(TEU) 8,468 8,533 5,668 5,688 4,738 4,250 4,051
16.4 12.7 16.9 8.0 15.1 17.0
8,491 8,491 7,546 6,346 6,770 6,830
1% 1% 1% 1% 1% 1%
8,662 8,662 7,697 6,474 6,906 6,967
8,468 TEU 8,533 TEU
– II-6 –
9,000 TEU
(TEU) 8,468 8,533 5,668/5,688 4,738WB 4,250 4,051
1 5 13 8 18 4
8.6 12.5 8.1 17.0 10.5 8.0
13,280 13,280 10,592 9,999 4,329 4,264
8,468 TEU 8,533 TEU
74
74
3.24
WACC
5,668/
(TEU) 18,982 14,074 14,074# 10,036 9,572 8,468 8,533 5,688 4,738WB 4,250 4,051
5 6 2 8 4 1 5 13 8 18 4 74
19.1 15.9 15.2 18.5 11.0 8.6 12.5 8.1 17.0 10.5 8.0
22,113 26,854 26,379 15,265 12,054 13,280 13,280 10,592 9,999 4,329 4,264
40.4 58.8 19.3 44.6 17.6 4.8 24.2 50.3 29.2 28.4 6.2 323.8
1. 14,074 TEU 14,074 TEU #
(CSCL STAR) (CSCL VENUS)
2. 8,468 TEU 8,533 TEU
74 3.24
– II-7 –
1.
2.
(a)
XV
XV 7 8
352
(i)
(1)
100,000 H 0.00388% 0.00082%
936,000 A 0.00967% 0.00763%
(2) (3)
936,000 A 0.00967% 0.00763%
530,000 A 0.00548% 0.00432%
– III-1 –
150,000 H 0.00581% 0.00122%
1. A 936,000
A
2. A 936,000
A
3. A
530,000 A
(ii)
400,000 H 0.01088%
29,100 A 0.00037%
38,000 A 0.00048%
32,379 0.00098%
1
1,253,154 0.03780%
1. 53,154
2,095
1,200,000
– III-2 –
(b)
XV 2 3
(c) (i)
XV
XV 7 8
352
(ii)
XV 2 3
3.
8.10
4.
– III-3 –
5.
6.
7.
6
– III-4 –
8.
9.
10.
11.
(a)
(b)
12
183 48
(c)
183 17 1712-1716
(d)
http://hold.coscoshipping.com
http://www.hkexnews.hk
– III-5 –
12.
183 48
(a)
(b)
(c)
(d)
(e)
(f)
(g)
(h) 7.
(i)
(j)
– III-6 –