COSCO SHIPPING Development Co., Ltd. — Earnings Release 2006

Aug 28, 2006

Listed Company Information

Listed Company Information
CSCL<02866> - Results Announcement China Shipping Container Lines Company Limited announced on 28/08/2006: (stock code: 02866 ) Year end date: 31/12/2006 Currency: RMB Auditors' Report: N/A Interim report reviewed by: Both Audit Committee and Auditors (Unaudited ) (Unaudited ) Last Current Corresponding Period Period from 01/01/2006 from 01/01/2005 to 30/06/2006 to 30/06/2005 Note ('000 ) ('000 ) Turnover : 13,973,202 13,495,759 Profit/(Loss) from Operations : 413,748 2,737,734 Finance cost : (246,302) (193,011) Share of Profit/(Loss) of Associates : 3,656 2,481 Share of Profit/(Loss) of Jointly Controlled Entities : N/A N/A Profit/(Loss) after Tax & MI : 81,194 2,144,010 % Change over Last Period : -96.21 % EPS/(LPS)-Basic (in dollars) : 0.01 0.36 -Diluted (in dollars) : N/A N/A Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : 81,194 2,144,010 Interim Dividend : N/A N/A per Share (Specify if with other : N/A N/A options) B/C Dates for Interim Dividend : N/A Payable Date : N/A B/C Dates for (-) General Meeting : N/A Other Distribution for : N/A Current Period B/C Dates for Other Distribution : N/A Remarks: 1. ACCOUNTING POLICIES The accounting policies adopted are consistent with those of the annual financial statements for the year ended 31 December, 2005. The adoption of the new standards, interpretations and amendments to standards in the current period which are relevant to the Groups operations and are mandatory for financial year ending 31 December, 2006 did not have any significant effect on the interim condensed consolidated financial statements or result in any significant change in the Group's accounting policies. For six months ended 30 June, 2005, the Group disclosed interest income, bank charges and foreign exchange gains/losses within "net financing charge". Management believes that their inclusion in "other income" and " administrative and general expenses" respectively is a fairer presentation of the Group's activities. 2. Earnings per share Basic earnings per share is based on the profit attributable to equity holders of the Company of RMB 81,194,000 and 6,030,000,000 shares in issue during the period (for six months ended 30 June, 2005: profit attributable to equity holders of the Company of RMB 2,144,010,000 and number of shares of 6,030,000,000). Diluted earnings per share has not been presented as the Company has no potential dilutive ordinary shares during the period. 3. Dividend (i) At a meeting held on 18 April, 2006 the directors proposed a final dividend of RMB 0.12 (2004: RMB 0.2) per ordinary share totaling RMB 723, 600,000 (2004: RMB 1,206,000,000) for the year ended 31 December, 2005. As at 30 June, 2006, a total amount of RMB 290,400,000 was paid to H share holders. (ii) The directors do not recommend the payment of the interim dividend for six months ended 30 June, 2006 (2005: nil).