China COSCO Shipping Development: Plans to build ships and adjust financing schemes, with a total amount exceeding 10 billion yuan.

China COSCO Shipping Development Co., Ltd. announced that the company plans to authorize its wholly-owned subsidiary Hainan Haifa Shipping to commission Dalian Heavy Industry to construct 15 multi-purpose grain vessels with a capacity of 87,000 tons, with a transaction amount of 4.785 billion yuan, which constitutes a related party transaction; and to commission Waigaoqiao Shipyard to build 10 bulk carriers with a capacity of 210,000 tons, with a transaction amount of 5.28 billion yuan, constituting a major transaction. At the same time, it plans to increase the medium-term note issuance limit by 15 billion yuan to no more than 25 billion yuan; and apply for the registration and issuance of company bonds not exceeding 6 billion yuan, to be used for repaying interest-bearing debts, among other purposes. The above proposals have been approved by the board of directors and are submitted for review by the shareholders' meeting.