COSCO SHIP HOLD 01919·

Gross margin 41.99%--43.59%1.60%15.73%27.86%28.94%13.21%19.45%9.49% Net margin 31.14%--33.64%2.50%16.18%17.45%23.77%7.59%16.04%7.73% ROE 66.83%--54.73%12.10%12.17%42.57%20.95%8.79%13.29%7.67% ROA 25.08%--25.69%0.61%6.14%19.56%11.18%5.04%7.28%3.90% Revenue growth ----17.19%---55.13%72.32%33.29%88.42%-6.14%39.43% Attributable profit growth ----22.88%---78.27%101.15%106.09%184.35%-37.24%143.33% Debt-to-assets 56.68%--50.42%6.26%47.39%3.03%42.70%4.69%41.42%1.28% Current ratio 1.67--1.640.041.590.051.680.091.510.17 Operating cash flow / net profit 1.65--1.500.150.800.701.250.451.290.05 Operating cash flow / revenue 51.25%--50.32%0.92%12.87%37.45%29.64%16.77%20.75%8.89%

Gross margin 20.56%--17.81%2.75% Net margin 18.51%--13.99%4.52% Revenue growth ----2.59%-- Attributable profit growth -----23.59%-- Debt-to-assets ----41.01%-- Current ratio ----1.45-- Operating cash flow / net profit 1.28--1.490.21 Operating cash flow / revenue 23.63%--20.85%2.78%

Revenue 333.69B--391.06B17.19%175.45B55.13%233.86B33.29%219.50B6.14% Gross profit 140.12B--170.48B21.67%27.60B83.81%67.68B145.22%42.70B36.91% Selling and distribution expenses 12.33B--11.80B4.31%8.24B30.11%10.54B27.82%10.17B3.49% Net finance costs 3.83B--3.84B0.19%3.74B2.74%3.18B14.95%3.15B0.97% Income tax 24.10B--35.64B47.87%4.68B86.86%11.49B145.44%6.77B41.09% Operating profit 128.35B--163.00B27.00%24.65B84.88%59.02B139.44%34.52B41.52% Share of associates and JVs 2.38B--2.31B2.99%4.69B102.88%4.94B5.39%5.24B5.95% Profit before tax 128.01B--167.18B30.60%33.08B80.21%67.09B102.80%41.99B37.41% Net profit 103.91B--131.54B26.59%28.40B78.41%55.59B95.77%35.22B36.65% Net profit attributable to owners 89.35B--109.79B22.88%23.86B78.27%49.17B106.09%30.86B37.24%

Revenue 109.10B--111.92B2.59% Other income and gains 1.85B--822.42M55.61% Cost of sales 86.67B--91.99B6.14% Gross profit 22.43B--19.93B11.15% Selling and distribution expenses 4.54B--4.83B6.34% Net finance costs 1.44B--453.19M68.63% Income tax 3.80B--2.55B32.91% Operating profit 19.72B--14.98B24.06% Share of associates and JVs 2.51B--2.42B3.46% Profit before tax 23.99B--18.21B24.10% Net profit 20.20B--15.66B22.44% Net profit attributable to owners 17.53B--13.39B23.59%

Cash and cash equivalents 178.43B--235.61B32.05%181.17B23.11%184.19B1.67%150.88B18.08% Trade and bills receivables 18.04B--16.76B7.07%13.44B19.83%14.50B7.88%14.67B1.16% Inventories 5.41B--7.02B29.72%6.56B6.49%6.33B3.49%6.67B5.25% Total current assets 203.12B--261.14B28.56%202.58B22.43%206.12B1.75%173.32B15.91% Total assets 414.28B--511.93B23.57%462.57B9.64%497.47B7.55%483.76B2.76% Total current liabilities 121.37B--159.46B31.39%127.34B20.15%122.79B3.57%115.04B6.31% Total liabilities 234.82B--258.14B9.93%219.22B15.08%212.41B3.10%200.35B5.68% Equity attributable to owners 133.69B--200.59B50.04%196.12B2.23%234.67B19.66%232.27B1.02% Total equity 179.46B--253.79B41.42%243.35B4.11%285.06B17.14%283.41B0.58%

Cash and cash equivalents ----140.84B-- Trade and bills receivables ----18.54B-- Inventories ----9.89B-- Total current assets ----170.71B-- Total assets ----483.63B-- Total current liabilities ----117.97B-- Total liabilities ----198.32B-- Equity attributable to owners ----233.76B-- Total equity ----285.31B--

Net cash from operating activities 171.01B--196.80B15.08%22.58B88.52%69.31B206.91%45.55B34.29% Net cash from investing activities -8.50B---32.98B288.05%-18.34B44.38%-26.97B47.05%-25.38B5.91% Net cash from financing activities -34.79B---115.38B231.65%-60.03B47.97%-40.62B32.33%-51.74B27.37% Net change in cash 127.72B--48.44B62.07%-55.79B215.16%1.72B103.09%-31.57B1934.18%

Net cash from operating activities 25.78B--23.33B9.49% Net cash from investing activities -10.50B---11.91B13.43% Net cash from financing activities -30.37B---18.23B39.96%