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Returns On Capital At COSCO SHIPPING Ports (HKG:1199) Have Stalled
Cosco Shipping Holdings (01919): Suggested providing financial support for extension.
Cosco Shipping Holdings (01919) announced that in September 2016, the company indirectly controlled its subsidiary, Cosco Ship Port...
OOIL (00316.HK) strategically invests in port business, acquiring equity of Tianjin subsidiary of COSCO Shipping Port.
On August 29, 2024, OOIL (OOCL Terminal Tianjin (B.V.I.) Limited, an indirect wholly-owned subsidiary of the company) and COSCO Ship Port (as the seller) entered into an equity transfer agreement, whereby (i) COSCO Ship Port agrees to sell, and the buyer agrees to purchase 20% of the total issued shares of the target company; and (ii) COSCO Ship Port agrees to transfer, and the buyer agrees to assume 20% of the amounts owed by the target company to COSCO Ship Port, for a total consideration.
Cosco Shipping Ports' Profit Plunges 7% in H1
COSCO Shipping Port (01199.HK) first half net profit fell by 7.4% to 0.139 billion US dollars, with an interim dividend of 12.2 Hong Kong cents per share.
On August 29, COSCO Shipping Port (01199.HK) announced its interim results. In the first half of 2024, the company's revenue increased by 3.0% YoY to $0.71 billion; gross profit increased by 2.5% YoY to $0.199 billion; net profit attributable to shareholders of the company decreased by 7.4% YoY to $0.139 billion. The directors declared an interim dividend of 12.2 Hong Kong cents per ordinary share for the first half of 2024 ending on December 31, 2024. In the first half of 2024, the total throughput increased by 8.2% YoY to 69,858,501 TEUs, of which the throughput of the controlling terminals increased by 8% YoY.
Express News | COSCO SHIPPING Ports - Deal for $49.3 Mln
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