Dida Inc. — Capital/Financing Update 2016

May 30, 2016

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)

FURTHER ANNOUNCEMENT ON CONTROLLING SHAREHOLDER RESTRUCTURING

This announcement is made by China Shipping Development Company Limited (the “ Company ”, together with its subsidiaries, the “ Group ”) pursuant to the Inside Information Provisions under Part XIVA of the SFO and Rule 13.09(2)(a) of the Rules Governing the Listing of Securities on the Hong Kong Stock Exchange.

We refer to the announcements of the Company dated 4 May 2016 (the “ Annoucement ”) in respect of the restructuring of its controlling shareholder. Unless otherwise defined, terms used in this announcement shall have the same meanings as those defined in the Annoucement.

On 30 May 2016, the Company was informed by China COSCO Shipping Corporation Limited (“ COSCO Shipping ”) that COSCO Shipping has received the Reply on Granting of Waiver in connection to Obligations to Make a General Offer by China COSCO Shipping Corporation Limited in respect of Shares of China Shipping Development Company Limited 《關於核准豁免中國遠洋海運集團有限公司要約收( 購中海發展股份有限公司股份義務的批復》) issued by China Securities Regulatory Commission in which it is stated that:

1. The waiver in connection to obligations to make a general offer in respect of 1,554,631,593 shares of the Company controlled by COSCO Shipping due to transfer of state-owned assets for administrative purposes, representing 38.56% of total share capital of the Company, is granted.

2. COSCO Shipping shall perform its obligations of disclosure of information on a timely basis in compliance with the relevant requirements.

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1. COSCO Shipping shall complete the relevant procedures together with the Company in compliance with the relevant requirements.

The Company has also been notified that COSCO Shipping currently does not have any plan to change the principal business of the Company or make a significant adjustment to the principal business of the Company the next 12 months. However, upon completion of the Controlling Shareholder Restructuring, COSCO Shipping will deeply advance the further integration between China Ocean Shipping (Group) Company and China Shipping (Group) Company, and does not rule out the possibility of making an adjustment to the principal business of the Company based on strategic needs and the progress achieved in business reorganization.

COSCO Shipping has undertaken that:

• (i) During the period when the Company is directly or indirectly controlled by COSCO Shipping, COSCO Shipping and its subsidiaries will not take any action or measure to engage in business activities which compete or may compete with the principal business of the Group and will not infringe upon the legitimate interests of the Group, including but not limited to establishing other subsidiaries, joint venture or associated companies to engage in businesses which constitute substantive competition with the principal business of the Group or otherwise directly or indirectly participating in the existing principal business of the Group.

• (ii) If COSCO Shipping and companies controlled by COSCO Shipping potentially have substantive competition with the Company in terms of its principal business or have substantive interest conflicts with the Company in the future, COSCO Shipping will give up or will procure companies controlled by COSCO Shipping to give up business opportunities that may give rise to peer competition or inject all businesses of COSCO Shipping and companies controlled by COSCO Shipping that may give rise to peer competition into the Company at equitable and fair market prices in due course.

By order of the Board of

China Shipping Development Company Limited Yao Qiaohong Company Secretary

Shanghai, the PRC, 30 May 2016

As at the date of this announcement, the Board of Directors of the Company comprises Mr. Xu Lirong, Mr. Sun Jiakang, Mr. Huang Xiaowen, Mr. Ding Nong, Mr. Yu Zenggang, Mr. Yang Jigui, Mr. Han Jun and Mr. Qiu Guoxuan as executive Directors, Mr. Wang Wusheng, Mr. Ruan Yongping, Mr. Ip Sing Chi, Mr. Rui Meng and Mr. Teo Siong Seng as independent non-executive Directors.

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