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04-Aug-2008 17:25

COSCO SHP SG / CoscoCorp

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The report is out

Gross profit surged 61% from $152.2 million in Q2 2007 to $245.4 million in Q2 2008. This was lifted
by higher turnover despite lower gross margin from 29.7% to 23.4% mainly due to higher raw
material costs.
Other gains comprised gain from the sale of scrap materials, interest income, net gain on disposal of
property, plant & equipment and foreign exchange differences. Other gains jumped 63% to $62.4
million in Q2 2008 mainly due to higher income from sale of scrap materials and interest income
from bank deposits.
Distribution and administrative costs rose in line with the expanding business volume and rising cost
environment, kept in check with effective cost management. Interest expense decreased 54% due to
reduction in bank borrowings in Q2 2008 compared to Q2 2007.
Minority interests increased due to higher contributions from its PRC subsidiaries involved in ship
repair, ship building and marine engineering operations.
Overall, net profit attributable to equity holders of the Company rose 60% from $80.4 million in Q2
2007 to $128.7 million in Q2 2008 backed by strong business expansion and operational efficiencies.
Compared to 1H 2007, net profit rose 74% from $122.3 million to $212.6 million in 1H 2008.]

http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_EB58734B1A34A9EF4825749B00273428/$file/Cosco_Q22008_Results_Annt.pdf?openelement

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04-Aug-2008 14:13

COSCO SHP SG / CoscoCorp

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Cosco 2H2008 report will be out Today .

On July 31, 2008, COSCO held a press conference in Beijing at which COSCO published the Sustainable Development Report 2007. This event demonstrates again COSCO Group's commitment to the fulfillment of the Global Compact and corporate social responsibilities. Vice President Li Jianhong presided over the press release and Bjorn K. Haugland, Vice President of Det Norske Veritas (DNV), spoke of the auditing opinions. Peng Huagang, Director of the Research Office of the State-owned Assets Supervision and Administration Commission of the State Council, Song Dexing, Department Chief of the Ministry of Communications, Ms. Chen Ying, member of the United Nations Global Compact Board, Ms. Liu Meng, Senior Advisor at the United Nations Global Compact Office, and Li Kejun, President of China Classification Society delivered congratulating speeches. Capt. Wei Jiafu announced the formal release of the Report and expressed his thanks to all the supporting parties. Many organizations home and abroad, COSCO's customers, suppliers, strategic partners and the media were also present. The leaders and guests spoke highly of the Report. They also appreciated the progress COSCO has made implementing the Global Compact, fulfilling its social responsibilities, and constructing the sustainable development management system. Det Norske Veritas (DNV) and the Global Compact Promotion Office under the China Enterprise Confederation have reviewed the sustainable development report as the third parties. Capt. Wei Jiafu declared that COSCO would publish sustainable development report every year.
Updated Time: 2008/08/01

http://www.cosco.com/en/news/detail.jsp?docId=12002

COSCO Becomes the Highest Profit-Making Shipping Company in Global 500

In Fortune Global 500, COSCO Group stands firmly at 405th place for its outstanding performance in 2007, with annual revenue of 20.84 billion US dollars and profit of 3.678 billion US dollars. Among the listed four shipping companies, COSCO is the best profit-making shipping company in the Global 500. Also, COSCO achieved impressive performance in five Top50 rankings: 13th in Top 50 fastest profit growth 15th in Top 50 high profit growth 31st in Top 50 high return to investors 43rd in Top 50 high EPS growth 46th in Top 50 high revenue growth COSCO Group's great-leap-forward development in its robot growth, brand building and shareholder return has been extensively recognized in Global 500 rankings, and well recognized by the shipping industry.
Updated Time: 2008/07/17

http://www.cosco.com/en/news/detail.jsp?docId=11848

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