Dida Inc. — Capital/Financing Update 2016

May 4, 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)

ANNOUNCEMENT

CONTROLLING SHAREHOLDER RESTRUCTURING

This announcement is made by China Shipping Development Company Limited (the “ Company ”) 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 11 December 2015 and 29 March 2016 and the circular of the Company dated 22 April 2016 (the “ Circular ”). Unless otherwise defined, terms used in this announcement shall have the same meanings as those defined in the Circular.

The Company is pleased to announce that, on 4 May 2016, it received a notice from its controlling shareholder China Shipping, pursuant to which, on 4 May 2016, the State-owned Assets Supervision and Administration Commission of the State Council of PRC (“ SASAC ”) has gratuitously transfered its entire equity interests in China Shipping into China COSCO Shipping Corporation Limited (“ COSCO Shipping ”), a state-owned enterprise wholly-owned and controlled by SASAC (the “ Controlling Shareholder Restructuring ”). SASAC has granted its approval of the registration in respect of the Controlling Shareholder Restructuring, and the registration procedures for the Controlling Shareholder Restructuring have been completed.

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Upon completion of the Controlling Shareholder Restructuring, the Company will become a non-wholly-subsidiary of COSCO Shipping and before and after the Controlling Shareholder Restructuring, China Shipping and SASAC remain to be the controlling shareholder and ultimate controller of the Company, respectively. As at the date of this announcement, China Shipping is currently interested in approximately 38.56% of the entire issued share capital of the Company.

The Company is also pleased to announce that it was informed that the Securities and Futures Commission of Hong Kong has waived the requirement of COSCO Shipping to make a general offer for the shares of such subsidiaries (including the Company) of China Shipping and COSCO Company, which are currently listed on the Stock Exchange under Rule 26.1 of the Code on Takeovers and Mergers arising as a result of the Controlling Shareholder Restructuring. Pursuant to applicable PRC laws and regulations, COSCO Shipping will apply to CSRC for a waiver from the general offer obligation.

The Company will make further announcement(s) in relation to the Controlling Shareholder Restructuring when appropriate and/or as requested in compliance with the Listing Rules and the SFO.

Shareholders and potential investors should exercise caution when they deal or contemplate dealing in the shares or other securities (if any) of the Company.

By order of the Board

China Shipping Development Company Limited Yao Qiaohong

Company Secretary

Shanghai, the People’s Republic of China 4 May 2016

As at the date of this announcement, the board of directors of the Company comprises Mr. Xu Lirong, 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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