Dida Inc. — Capital/Financing Update 2015

Feb 10, 2015

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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CHINA SHIPPING DEVELOPMENT COMPANY LIMITED 中海發展股份有限公司

(a joint stock limited company incorporated in the People’s Republic of China with limited liability)

(Stock Code: 1138)

RESULTS OF CONVERSION OF CONVERTIBLE BONDS AND REDEMPTION OF OUTSTANDING CONVERTIBLE BONDS

Reference is made to the announcements of the Company dated 8 January 2015 and 9 January 2015 (the “ Announcements ”) in respect of its redemption of the Convertible Bonds. Unless otherwise defined herein, capitalized terms used herein shall have the same meanings as those defined in the Announcements.

As set out in the Announcements, as the redemption conditions of the Convertible Bonds have been satisfied, the Board has on 8 January 2015 resolved to redeem all outstanding Convertible Bonds held by holders who are registered on the redemption record date (i.e. 9 February 2015) in accordance with the specified redemption procedures.

As at 9 February 2015, Convertible Bonds in the aggregate amount of RMB3,435,928,000 were converted into an aggregate of 550,627,575 A Shares since 1 January 2015, accounting for approximately 25.20% of the total issued capital of A Shares as at 31 December 2014 and 20.13% of the total issued capital of A Shares on 9 February 2015 as enlarged by such conversion. The aggregate amount of Convertible Bonds converted since they were issued on 1 August 2011 amount to RMB3,915,504,000, increasing the total issued capital of A Shares by 627,480,591 shares.

As at 9 February 2015, Convertible Bonds in the amount of RMB34,496,000 remained outstanding, accounting for approximately 0.8733% of the total value of RMB3.95 billion of Convertible Bonds originally issued.

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The table below sets forth the changes in the share capital of the Company as at the following dates:

	Number of		Percentage of	Number of	Percentage of
	shares as at	shareholding as		Shares as at	shareholding as
	31 December	at 31 December		9 February	at 9 February
	2014		2014	2015	2015
China Shipping
(Group) Company	1,436,608,100		41.27%	1,604,081,495	39.78%
Other holder of A
Shares	748,797,186		21.51%	1,131,951,366	28.07%
Holder of H shares	1,296,000,000		37.23%	1,296,000,000	32.14%
Total	3,481,405,286		100%	4,032,032,861	100%

On 13 February 2015, the Company will complete its redemption of the Convertible Bonds in the amount of RMB34,496,000 outstanding as at the record date at the redemption price of RMB100.687 per Convertible Bond with face value of RMB100 each, including accrued interest and related taxes. The total amount of redemption payment is approximately RMB34,715,437.82 (after deduction of related taxes) and the redemption payment date is expected to be 13 February 2015. Starting from 10 February 2015, the Convertible Bonds will cease to be traded or converted. After the completion of the early redemption, the Convertible Bonds will be delisted from the Shanghai Stock Exchange, and the total issued capital of A Shares will be 2,736,032,861 shares (assuming there is no other changes in the total issued capital of A Shares since 9 February 2015 until the date of the completion of the early redemption).

By order of the board China Shipping Development Company Limited Yao Qiaohong Company Secretary

Shanghai, the People’s Republic of China 10 February 2015

As at the date of this announcement, the board of directors of the Company comprises Mr. Xu Lirong, Mr. Zhang Guofa, Ms. Su Min, Mr. Huang Xiaowen, Mr. Ding Nong, Mr. Liu Xihan, Mr. Yu Zenggang, Mr. Han Jun and Mr. Qiu Guoxuan as executive Directors, Mr. Zhang Jun, Mr. Wang Wusheng, Mr. Ruan Yongping, Mr. Ip Sing Chi and Mr. Wang Guoliang as independent non-executive Directors.

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