COSCO SHIP HOLD (01919) has announced that on April 29, 2026, COSCO Shipping International Freight Co., Ltd., an indirect wholly-owned subsidiary of the company acting as the buyer, entered into a share transfer agreement with SeaTrade (an associate of the company acting as the seller). Pursuant to the agreement, the buyer intends to acquire a 49% equity interest in China Hai Mao from the seller for a consideration of approximately $2.26 million. As of the date of this announcement, COSCO Shipping International Freight holds a 51% stake in China Hai Mao. Following the completion of the share transfer, COSCO Shipping International Freight will hold 100% of the equity in China Hai Mao, which will continue to be a subsidiary of the company. Its financial statements will continue to be consolidated into the group's financial reports.

This equity transfer represents a significant step for the group in deepening the integration of its supply chain resources and comprehensively optimizing its management and capital structure. The move will help the company establish a flatter, more efficient, and unified management and control system. It will strengthen business synergy and network integration, building a core competitive advantage in the market. The acquisition is expected to significantly enhance the company's design capabilities and service quality for end-to-end supply chain solutions, thereby substantially improving the comprehensive competitiveness and risk resilience of the freight subsidiary in a complex market environment.

Furthermore, the transaction will facilitate the unified collection and efficient allocation of funds, strengthen refined cost control, and notably improve overall asset operation efficiency and returns. This will enable the company to enhance financial management and increase asset returns. By presenting a unified market image, the company aims to engage in long-term brand building and customer relationship development, consolidating and enhancing its leading position and brand influence in target markets, securing its market standing, and ensuring the continuity of core business operations.