Dida Inc. — Interim / Quarterly Report 2017

Oct 30, 2017

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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COSCO SHIPPING ENERGY TRANSPORTATION CO., LTD.* 中遠海運能源運輸股份有限公司

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

(Stock Code: 1138)

Third Quarterly Report of 2017

Summary

This Report for the three months ended 30 September 2017 of the Group has been prepared in accordance with the regulations on Disclosure of Information in Quarterly Reports for Listed Companies issued by the China Securities Regulatory Commission. This Report is published simultaneously in Shanghai and Hong Kong. All financial information set out in this Report is unaudited and prepared in accordance with the PRC GAAP.

This announcement is made pursuant to Rule 13.10B of The Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

1. IMPORTANT

This third quarterly report (the “Report”) for the three months ended 30 September 2017 (the “Reporting Period”) of COSCO SHIPPING Energy Transportation Co., Ltd. (the “Company”, together with its subsidiaries, the “Group”) has been prepared in accordance with the regulations on Disclosure of Information in Quarterly Reports for Listed Companies issued by the China Securities Regulatory Commission. The Report is published simultaneously in Shanghai of the People’s Republic of China (the “PRC”) and the Hong Kong Special Administrative Region. All financial information set out in the Report is unaudited and prepared in accordance with the accounting principles generally accepted in the PRC (the “PRC GAAP”).

— 1 —

2. PARTICULARS OF THE COMPANY

Principal financial data and statistics highlights

			**As at 30 **	September	September	September	As at 31 December 2016	As at 31 December 2016	As at 31 December 2016	As at 31 December 2016			Increase/
						2017	After adjusted			Before adjusted		Decrease (%)
	Total assets (RMB)		61,229,209,162.90				58,309,476,458.96			58,021,823,220.44			5.01
	Net assets	attributable to
	shareholders of the Company
	(RMB)		27,433,212,945.47				27,413,506,294.14			27,413,089,453.28			0.07
			For the nine months				**For the nine **			months ended 30
			**ended 30 **	September				September 2016					Increase/
						2017	After adjusted			Before adjusted		Decrease (%)
	Net cash flow from operating
	activities (RMB)		2,419,616,973.24				14,950,219,401.65			14,903,995,800.26			-83.82
	Revenue from operation (RMB)		7,275,509,434.22				10,832,221,787.72			10,715,772,117.93			-32.83
	Net profit attributable to
	shareholders of the Company
	(RMB)		1,247,612,119.07				2,219,826,491.23			2,224,067,921.69			-43.80
	Net profit attributable to
	shareholders of the Company
	after exceptional items (RMB)		1,113,080,447.71				775,733,230.83			775,733,230.83			43.49
	Rate of returns on net assets (%)										Decreased by 3
	(weighted)					4.53			7.53	7.25	percentage points
	Basic earnings per share (RMB)				0.3094			0.5505		0.5516			-43.80
	Diluted earnings per share (RMB)				0.3094			0.5505		0.5516			-43.80

— 2 —

Exceptional items and amount

				For the three months	For the three months	For the nine months	For the nine months
				ended 30 September		ended 30 September
					2017		2017
	Items				Amount (RMB)	Amount (RMB)
	Profit and Loss on disposal of non-current assets				-16,627.12	-40,422.79
	Government grants included in gains or losses for the			current period,
	excluding those closely related to the Company’s ordinary business
	and granted on an on-going basis in fixed amount or volume
	according to certain standards and adhering to certain principles
	under national policies				368,772,427.83	369,081,407.14
	Net profit and loss of the subsidiary acquired in the combination of
	business under common control from the beginning			of the period to
	the date of combination					731,270.58
	Gains and losses from changes in fair value of investment properties
	subsequently measured at fair value
	Other non-operating income and expenses		except for the aforesaid
	items				12,274,963.44	-169,291,763.70
	Other profits or losses within	the definition of extraordinary profit or
	loss
	Income tax effect				-63,112,304.63	-63,986,919.77
	Minority interests effect (after tax)				-2,395,669.88	-2,401,900.10
	Total				315,522,789.64	134,091,671.36

• 2.2 Total number of shareholders as at the end of the Reporting Period, the shareholding of the top 10 shareholders and the shareholding of the top 10 shareholders of shares without any selling restrictions

	Total number of shareholders	Total number of shareholders	Total number of shareholders											123,920	123,920
					Top 10 shareholders
										Number of		Number of
									shares with			shares subject
					Number of Shareholding					selling		to pledge or		Type of
	**Name of shareholders (Full **		Name)		shares	(%)			restrictions			**lock **	up	shareholders
	China Shipping (Group) Company(1)													Stated-owned
	(中國海運(集團)總公司)			1,536,924,595		38.12					0		Nil	entity
														Offshore
	HKSCC NOMINEES LIMITED(2) 1,284,850,996					31.87					0	Unknown		entity
	Central Huijin Assets Management
	Company	Ltd (中央匯金資產管理有												Stated-owned
	限責任公司)				92,709,700	2.30					0		Nil	entity
	China Securities Finance Co., Ltd.													Stated-owned
	(中國證券金融股份有限公司)				27,849,641	0.69					0		Nil	entity

— 3 —

					**Top 10 **	**Top 10 **	**Top 10 **	shareholders	shareholders	shareholders
												**Number **	of		Number of
												shares with		shares subject
					Number of			Shareholding				selling			to pledge or				Type of
	**Name of shareholders **		(Full Name)		shares				(%)			restrictions			lock up			shareholders
	Harvest Fund - Agricultural Bank of
	China - Harvest CSI		Financial Asset
	Management Plan (嘉實基金—農業
	銀行—嘉實中證金融資產管理計劃)				24,879,500				0.62				0			Nil			Others
	GF Fund - Agricultural		Bank of China -
	GF CSI Financial Asset Management
	Plan (廣發基金—農業銀行—廣發中
	證金融資產管理計劃)				24,879,500				0.62				0			Nil			Others
	Zhongou Fund - Agricultural Bank of
	China - Zhongou CSI Financial
	Asset Management Plan (中歐基金—
	農業銀行—中歐中證金融資產管理計
	劃)				24,879,500				0.62				0			Nil			Others
																			A domestic
	Huang	Peiling(黃佩玲)			12,824,424				0.32				0			Nil		natural person
	Southern Fund - Agricultural Bank of
	China - Southern CSI Financial
	Asset Management Plan (南方基金
	—農業銀行—南方中證金融資產管理
	計劃)				12,596,453				0.31				0			Nil			Others
																			A domestic
	Peng Heqing(彭賀慶)				12,335,930				0.31				0			Nil		natural person
	**Top ten holders of shares in circulation without any selling restrictions **											(3)
								Number of shares in
						**circulation without **						any selling
								**restrictions **		**as **	at the end of
	Name of Shareholders (full name)							the reporting period									Type of shares
	China Shipping (Group) Company(1)										1,536,924,595					RMB	ordinary shares
	HKSCC NOMINEES LIMITED(2)										1,284,850,996				Offshore		listed H shares
	Central Huijin Assets Management Company Ltd											92,709,700				RMB	ordinary shares
	China Securities Finance Co., Ltd.											27,849,641				RMB	ordinary shares
	Harvest Fund - Agricultural Bank of China -
	Harvest CSI Financial Asset			Management Plan								24,879,500				RMB	ordinary shares

— 4 —

	**Top ten holders of shares **	in circulation without any selling restrictions (3)	in circulation without any selling restrictions (3)
			Number of shares in
		**circulation without any **		selling
		restrictions as at the end of
	Name of Shareholders (full name)		**the reporting **	period	Type of shares
	GF Fund - Agricultural Bank of China - GF CSI
	Financial Asset Management Plan		24,879,500		RMB ordinary shares
	Zhongou Fund - Agricultural Bank of China -
	Zhongou CSI Financial Asset Management Plan		24,879,500		RMB ordinary shares
	Huang Peiling		12,824,424		RMB ordinary shares
	Southern Fund — Agricultural Bank of China -
	Southern CSI Financial Asset Management Plan		12,596,453		RMB ordinary shares
	Peng Heqing		12,335,930		RMB ordinary shares

Notes:

• (1) As at the end of the Reporting Period, China Shipping (Group) Company (“China Shipping”) and its subsidiaries held 7,000,000 A Shares of the Company through CICC-CCB-Zhongjin Ruihe collective asset management schemes (中金公司—建設銀行—中金瑞和集合資產管理計劃), held 2,065,494 A Shares of the Company through Guotai Junan securities asset management-Industrial Bank - Guotai Junan Junxiang Xinli No.6 collective asset management schemes (國泰君安證券資管—興業銀行—國泰君安君享新利六號集合資產管理計劃) and held 8,641,504 A Shares of the Company through AEGON-INDUSTRIAL Fund-Bank of Shanghai-China Shipping (Group) Company (興業全球基金—上海銀行—中國海運(集團) 總公 司). Therefore, China Shipping and its subsidiaries aggregately held 1,554,631,593 A Shares of the Company as at the end of the Reporting Period, representing 38.56% of the total number of shares of the Company.

• (2) HKSCC NOMINEES LIMITED (香港中央結算(代理人)有限公司) holds H shares of the Company on behalf of customers of all securities firms in Hong Kong and other CCASS participants.

• (3) The Company has no shareholder of restricted shares, therefore the top 10 shareholders are the same as the top 10 shareholders of unrestricted shares. No connected relationship exists between the 1st shareholder and the 2nd to 10th shareholders, but it is unknown whether connected relationship or concerted action relationship exist among the 2nd to 10th shareholders.

— 5 —

3. SIGNIFICANT EVENTS

Significant changes in the principal items and highlights in the financial statements of the Company during the Reporting Period and the reasons

From January 2016 to June 2016, the Group was still operating the dry bulk cargo business and it disposed of the dry bulk cargo business (discontinued operations) at the end of June 2016. The revenue from the disposal of the dry bulk cargo business less the operating loss from the dry bulk cargo business constituted a net profit from discontinued operations of the Group amounting to approximately RMB730 million attributable to the equity holders of the Company in the same period of last year. Eliminating the effect of the above factors, the net profit from the continued operation of the oil and gas transportation business of the Group attributable to the equity holders of the Company for the nine months ended 30 September 2017 was approximately RMB1.248 billion, decreased by approximately16.2% on a year-on-year basis, mainly due to a year-on-year decrease of approximately 40%-60% in the daily revenue level of the market of different types of vessels for foreign trade oil transportation in the first three quarters of the year.

Unit: RMB

	Balance Sheet Item 2017.09.30 2016.12.31 Change(%) Reason for Significant Changes Other receivables 597,895,541.59 341,579,532.62 75.04% Note(1) Other payables 185,473,481.47 650,011,572.42 -71.47% Note(2) Other comprehensive income -95,369,216.93 361,936,767.08 -126.35% Note(3)

Notes:

• (1) Other receivables increased by 75.04% as compared to the beginning of the year, primarily because the current account increased between the Company and its newly added associates and joint ventures.

• (2) Other payables decreased by 71.47% as compared to the beginning of the year, primarily because the Company repaid the compensations for the loss of China Shipping Bulk Carrier Co., Limited (“CS Bulk”).

• (3) Other comprehensive income decreased by 126.35% as compared to the beginning of the year, primarily due to the fluctuations in exchange reduced the translation of foreign currency.

— 6 —

Income Statement Items January to September 2017 January to September 2016 Change (%) Reason for Significant Changes Revenue from operations 7,275,509,434.22 10,832,221,787.72 -32.83 Note(4) Costs from operations 5,398,592,752.28 8,228,305,427.64 -34.39 Administrative expenses 355,517,357.95 508,094,658.60 -30.03 Financial expenses 553,413,406.23 933,217,786.21 -40.70 Investment income (Loss stated with“-”) 319,554,723.64 1,279,465,628.96 -75.02

Notes:

• (4) These items decreased significantly over the same period last year, which was mainly attributed to the fact that the Group was still operating the dry bulk cargo business in the six months ended 30 June 2016. The dry bulk cargo business was disposed at the end of 30 June 2016.

	Cash Flow Statement Items January to September 2017 January to September 2016 Change(%) Reason for Significant Changes Net cash flow from operating activities 2,419,616,973.24 14,950,219,401.65 -83.82 Note(5) Net cash flow from investing activities -5,604,056,206.55 5,080,636,448.33 -210.30 Note(6) Net cash flow from financing activities 3,245,883,472.34 -15,440,575,024.96 121.02 Note(7)

Notes:

• (5) Net cash flows generated from operating activities from January to September for the year decreased by 83.82% as compared to the corresponding period of last year, primarily due to the fact that the Group was still operating dry bulk cargo business in the six months ended 30 June 2016.

• (6) Net cash flows generated from investing activities from January to September for the year decreased by 210.30% as compared to the corresponding period of last year, primarily due to the increase in cash paid for purchase of vessels.

• (7) Net cash flows generated from financing activities from January to September for the year increased by 121.02% as compared to the corresponding period of last year, primarily due to the increase in new borrowings

Analysis and explanation on the progress of significant events and their impacts and solutions

On 30 October 2017, the board has approved a series of resolutions in relation to proposed non-public issuance of A shares, details of which will be set out in the near future.

— 7 —

Undertakings that have not been fulfilled within the reporting period

Not applicable

4 Appendix

Consolidated Balance Sheet

					30 September 2017	31 December 2016
	Items				RMB	RMB
	Current assets
	Cash and Cash Equivalents				6,317,118,927.20	6,409,203,363.82
	Notes receivable				30,939,192.29	74,076,177.86
	Accounts receivable				901,184,067.68	1,142,070,492.43
	Funds paid in advance				472,741,143.64	427,021,914.12
	Interest receivable				8,497,804.18	1,883,436.94
	Dividends receivable				10,962,527.84	1,225,556.33
	Other receivables				597,895,541.59	341,579,532.62
	Inventory				608,412,517.80	456,983,984.09
	Non-current	assets due within one year			26,646,277.03	18,899,240.36
	Other current assets				85,343,011.84	147,540,937.18
	Total Current Assets				9,059,741,011.09	9,020,484,635.75
	Non-current liabilities
	Financial assets available for sale				363,055,024.50	279,761,297.31
	Long-term receivables				1,812,654,066.41	1,453,585,051.23
	Long-term equity investment				4,066,558,216.88	3,999,963,858.09
	Investment properties				1,104,907,492.36	1,104,907,492.36
	Fixed assets				40,809,054,802.07	33,334,557,038.24
	Construction in progress				3,822,871,697.88	8,917,825,126.78
	Intangible assets				80,828,133.53	86,610,076.87
	Goodwill				58,168,418.21	58,168,418.21
	Long-term deferred expenses				867,494.61	1,355,949.47
	Deferred income tax asset				50,502,805.36	52,257,514.65
	Total non-current assets				52,169,468,151.81	49,288,991,823.21
	Total asset				61,229,209,162.90	58,309,476,458.96

— 8 —

					30 September 2017	31 December 2016
	Items				RMB	RMB
	Current liabilities
		Short-term borrowings			2,413,400,834.86	1,872,990,050.99
		Derivative financial liabilities
		Accounts payable			1,218,804,617.90	1,353,797,492.51
		Receipts in advance			101,824,183.19	218,889,646.39
		Salaries and wages payable			97,500,582.41	183,689,404.20
		Taxes payable			33,064,885.75	159,242,785.99
		Interests payable			192,351,562.79	101,782,383.36
		Dividends payable			19,639,394.81	19,639,394.81
		Other payables			185,473,481.47	650,011,572.42
		Non-current liabilities due within one year			3,448,800,603.43	2,753,894,652.31
		Total current liabilities			7,710,860,146.61	7,313,937,382.98
	Non-current liabilities
		Long-term borrowings			19,207,861,507.78	16,953,208,990.99
		Bonds payable			3,984,810,237.71	3,982,045,490.54
		Long-term payables			1,139,375,832.89	1,049,819,591.86
		Long-term salaries and	wages payable		149,361,419.83	156,165,181.83
		Estimated liabilities			460,807,555.77	495,337,579.16
		Deferred income				7,298.51
		Deferred income tax liabilities			333,864,928.71	295,965,365.70
		Other non-current liabilities			603,846,583.99	474,988,203.50
		Total non-current liabilities			25,879,928,066.68	23,407,537,702.09
		Total liabilities			33,590,788,213.29	30,721,475,085.07
	Shareholders’ equity
		Share capital			4,032,032,861.00	4,032,032,861.00
		Capital reserve			7,580,544,622.33	7,576,579,290.64
		Other comprehensive income			-95,369,216.93	361,936,767.08
		Specific reserve			39,796,570.44	48,275,142.27
		Surplus reserve			2,877,436,346.44	2,877,436,346.44
		Undistributed profit			12,998,771,762.19	12,517,245,886.71
		Total equity attributable to owners of the parent company			27,433,212,945.47	27,413,506,294.14
		Minority interests			205,208,004.14	174,495,079.75
		Total shareholders’ equity			27,638,420,949.61	27,588,001,373.89
		Total liabilities and shareholders’ equity			61,229,209,162.90	58,309,476,458.96

— 9 —

Balance Sheet of Parent Company

			30 September 2017	30 September 2017	31 December 2016
	Items			RMB	RMB
	Current assets
	Cash and cash	equivalents		2,667,841,713.09	2,648,015,576.70
	Funds paid in advance				38,394.90
	Interests receivable			141,819,542.60	57,985,525.11
	Dividends receivable			200,000,000.00
	Other receivables			2,714,327,776.93	2,654,296,293.95
	Other current assets			8,103,724.38	12,030,525.86
	**Total Current **	Assets		5,732,092,757.00	5,372,366,316.52
	Non-current assets
	Financial assets available for sale
	Held-to-maturity investments			7,500,000,000.00	7,000,000,000.00
	Long-term equity investment		16,789,966,168.88		16,591,945,762.49
	Investment properties			1,227,748,666.00	1,227,748,666.00
	Fixed assets			62,184,905.32	63,736,180.49
	Intangible assets			637,234.28	2,548,937.11
	Total non-current assets		25,580,536,974.48		24,885,979,546.09
	Total assets		31,312,629,731.48		30,258,345,862.61
	Current liabilities
	Short-term borrowings			1,000,000,000.00
	Salaries and wages payable			2,945,570.60	26,807,380.62
	Taxes payable			430,373.74	10,996,660.72
	Interests payable			130,600,684.93	53,104,383.56
	Other payables			2,138,813,589.53	2,527,010,034.85
	Total current liabilities			3,272,790,218.80	2,617,918,459.75
	Non-current liabilities
	Long-term borrowings
	Bonds payable			3,984,810,237.71	3,982,045,490.54
	Deferred income tax liabilities			176,405,189.58	173,476,028.10
	Total non-current liabilities			4,161,215,427.29	4,155,521,518.64
	Total liabilities			7,434,005,646.09	6,773,439,978.39
	Shareholders’ equity
	Share capital			4,032,032,861.00	4,032,032,861.00
	Capital reserve			7,845,301,736.32	7,844,457,084.62
	Other comprehensive income			273,538,865.56	271,137,193.06
	Surplus reserve			2,877,436,346.44	2,877,436,346.44
	Undistributed profit			8,850,314,276.07	8,459,842,399.10
	Total shareholders’ equity		23,878,624,085.39		23,484,905,884.22
	Total liabilities and shareholders’ equity 31,312,629,731.48				30,258,345,862.61

— 10 —

Consolidated Income Statement

					July-	July-	January-	January-	January-
				September 2017		September 2016	September 2017	September 2016
		Items			RMB	RMB	RMB	RMB
		1. Gross revenue from operations		2,166,306,454.32		2,203,179,385.04	7,275,509,434.22	10,832,221,787.72
		Including: revenue from operation		2,166,306,454.32		2,203,179,385.04	7,275,509,434.22	10,832,221,787.72
		2. Gross cost from operations		2,217,336,211.08		2,035,183,995.63	6,355,516,439.53	9,742,680,562.64
		Including: cost from	operation	1,870,009,390.16		1,684,351,474.22	5,398,592,752.28	8,228,305,427.64
		Business taxes and other surcharges			7,146,883.46	1,258,580.96	30,285,965.66	18,019,384.48
		Sales expenses			5,504,000.35	4,416,836.39	19,378,665.72	55,079,065.80
		Administrative expenses			130,580,315.34	130,207,773.28	355,517,357.95	508,094,658.60
		Financial expenses			211,188,909.62	215,044,921.25	553,413,406.23	933,217,786.21
		Loss on impairment	of assets		-7,093,287.85	-95,590.47	-1,671,708.31	-35,760.09
		Add: Gain from changes in fair
		value (Loss stated with “-”)				6,691,634.31		3,750,354.72
		Investment income (Loss stated
		with“-”)			110,892,814.60	139,084,316.51	319,554,723.64	1,279,465,628.96
		Including: investment income from
		associates and joint ventures			102,852,029.33	102,115,877.61	311,955,798.69	277,106,582.09
		Other income			6,470,000.00		45,510,000.00
		3. Operating profit			66,333,057.84	313,771,340.23	1,285,057,718.33	2,372,757,208.76
		Add: Non-operating	revenue		378,775,317.50	212,824,888.05	386,330,538.11	233,337,261.98
		Including: Gains arising from
		disposal of non-current assets			141,405.69		141,405.69
		Less: Non-operating	expenditure		-2,396,852.34	86,215,355.92	186,439,911.77	215,714,755.33
		Including: Loss arising from
		disposal of non-current assets			16,627.12	286,499.53	40,422.79	3,112,282.30
		4. Gross profit			447,505,227.68	440,380,872.36	1,484,948,344.67	2,390,379,715.41
		Less: Income tax			9,473,087.58	38,760,986.41	138,423,871.79	143,572,420.06
		5. Net profit			438,032,140.10	401,619,885.95	1,346,524,472.88	2,246,807,295.35
		Net profit attributable to owners of
		parent company			396,007,134.95	399,451,570.63	1,247,612,119.07	2,219,826,491.23
		Net profit attributable to minority
		shareholders			42,025,005.15	2,168,315.32	98,912,353.81	26,980,804.12
		6. Other comprehensive net
		income after tax			-260,190,516.70	-71,368,850.49	-508,102,079.97	-288,835,698.37
		Other comprehensive net income
		after tax attributable to owners
		of parent company			-213,200,500.25	-53,561,032.67	-457,305,984.01	-48,835,222.88
		(1) Other comprehensive income
		that may not be subsequently
		reclassified into profit or loss						530,000.00

— 11 —

				July-	July-		July-	January-		January-
				September 2017		September 2016		September 2017	September 2016
		Items		RMB			RMB	RMB		RMB
		Including: 1. Changes in net
		liabilities or net assets arising
		from the	re-measurement of
		defined benefit plans								530,000.00
		(2) Other comprehensive income		to
		be re-classified to profit or loss -213,200,500.25				-53,561,032.67		-457,305,984.01		-49,365,222.88
		Including: 1. Share of other
		comprehensive income to be
		re-classified to profit or loss in
		an investee in accordance with
		equity method		-20,566,519.98		7,667,195.09		-69,183,594.78		13,500,715.63
		2. Variable profit and loss of fair
		value of financial assets available
		for sale		7,267,410.69				31,893,115.80
		3. Effective	parts of profit or loss
		on cash flow hedges		-49,352,628.10		-13,133,389.52		-69,727,618.92	-162,257,873.45
		4. The difference between the
		translation of foreign currency
		financial	statements	-150,548,762.86		-48,094,838.24		-350,287,886.11		99,391,934.94
		Other comprehensive net income
		**after tax **	attributable to
		**minority **	shareholders	-46,990,016.45		-17,807,817.82		-50,796,095.96	-240,000,475.49
		7. Total comprehensive income		177,841,623.40		330,251,035.46		838,422,392.91	1,957,971,596.98
		Total comprehensive income
		attributable to owners of parent
		company		182,806,634.70		345,890,537.96		790,306,135.06	2,170,991,268.35
		Total comprehensive income
		attributable to minority
		shareholders		-4,965,011.30		-15,639,502.50		48,116,257.85	-213,019,671.37
		8. Earnings per share
		(1) Basic		0.0994			0.1005	0.3094		0.5505
		(2) Diluted		0.0994			0.1005	0.3094		0.5505

For the business combination under common control in the current period, the net profit achieved by the combined party before the combination is RMB5,234,358.32, and the net profit achieved by the combined party in the previous period was RMB6,023,798.34.

— 12 —

Income Statement of Parent Company

					July-		July-	January-		January-
				September 2017		September 2016		September 2017	September 2016
		Items			RMB		RMB	RMB		RMB
		1. Revenue from operations 7,529,223.46				8,701,410.22		22,360,739.16	22,496,331.65
		Less:	cost from operation
		Business taxes and other surcharges 70,631.97				35,315.96		2,214,532.61	4,622,885.75
		Sales	expenses	4,970,704.84		3,527,439.57		19,378,665.72	4,640,548.86
		Administrative expenses		26,088,824.62		-4,736,983.65		47,008,069.71	80,785,860.00
		Financial expenses		25,076,106.37		72,170,062.15		72,469,123.31	306,915,329.34
		Add: Gain from changes in		fair
		value (Loss stated with “-”)				-1,062,307.00
		Investment income (Loss stated
		with“-”)		96,248,682.52		101,411,079.53		1,296,000,481.98	-1,982,099,687.16
		Including: investment income from
		associates and joint ventures 13,180,780.52				11,150,368.89		37,067,650.19	29,366,951.77
		Other	income					440,000.00
		2. Operating profit		47,571,638.18		38,054,348.72		1,177,730,829.79	-2,356,567,979.46
		Add: Non-operating revenue -14,323,547.75						-14,243,547.75		79,900.82
		Less:	Non-operating expenditure			1,504.00		4,000,000.00		11,685.87
		Including: Loss arising from
		disposal of non-current assets								2,926.87
		3. Gross profit		33,248,090.43		38,052,844.72		1,159,487,282.04	-2,356,499,764.51
		Less:	Income tax	976,391.83		-2,218,478.61		2,929,161.48	25,418,975.89
		4. Net profit		32,271,698.60		40,271,323.33		1,156,558,120.56	-2,381,918,740.40
		5. Net other comprehensive income
		after tax		-203,495.27		3,182,581.68		2,401,672.50
		Other	comprehensive income to be
		re-classified to profit or		loss -203,495.27		3,182,581.68		2,401,672.50
		Including: Share of other
		comprehensive income to be
		re-classified to profit or		loss in
		an investee in accordance with
		equity method		-203,495.27		3,182,581.68		2,401,672.50
		6. Total comprehensive income 32,068,203.33				43,453,905.01		1,158,959,793.06	-2,381,918,740.40
		7. Earnings per share
		(1) Basic
		(2) Diluted

— 13 —

Consolidated Cash Flow Statement

					January -	January -
					September 2017	September 2016
	Items				RMB	RMB
	1. Cash flows from operating activities
	Cash received from sales of goods and provision of services				7,858,576,217.27	10,853,500,400.90
	Cash received from return of taxes and fees				89,530,291.54	197,097,248.65
	Cash received from other related operating activities				1,230,521,623.91	13,053,707,105.64
	Subtotal of cash inflow from operating activities				9,178,628,132.72	24,104,304,755.19
	Cash paid for goods and services				4,139,903,811.23	5,720,100,770.64
	Cash paid to or on behalf of employees				1,240,952,143.18	1,435,119,512.60
	Taxes paid				365,122,216.49	493,914,466.68
	Other cash paid relating to operating activities				1,013,032,988.58	1,504,950,603.62
	Subtotal of cash outflow from operating		activities		6,759,011,159.48	9,154,085,353.54
	Net cash flows from operating activities				2,419,616,973.24	14,950,219,401.65
	2. Cash flows from investing activities
	Cash received from withdrawal of investment				51,090,153.92	5,754,973,897.21
	Cash inflow from return on investment				222,057,950.11	1,005,271,388.45
	Net cash inflow from disposal of fixed,		intangible and other long-term
	assets				148,543.69	56,991.16
	Net cash received from disposal of subsidiaries and other business units					8,250,431,088.09
	Other cash received relating to investing activities
	Subtotal of cash inflow from investing activities				273,296,647.72	15,010,733,364.91
	Cash paid for purchase of fixed, intangible and other long-term assets				4,927,972,022.11	1,683,835,537.40
	Cash paid for investment				610,238,021.53	7,042,419,259.42
	Other cash paid relating to investing activities				339,142,810.63	1,203,842,119.76
	Subtotal of cash outflow from investing		activities		5,877,352,854.27	9,930,096,916.58
	Net cash flows from investing activities			-5,604,056,206.55		5,080,636,448.33
	3. Cash flows from financing activities
	Cash received from investments				1,407,534.78	449,097.74
	Cash received from borrowings				8,135,176,750.17	2,764,451,522.47
	Cash received from other financing activities					19,981,324.92
	Sub-total of cash	inflows of financing activities			8,136,584,284.95	2,784,881,945.13
	Cash paid for payment of debts				3,678,350,630.29	16,719,495,781.68
	Cash paid for distribution of dividends or profits and for interest expenses				1,135,694,730.57	1,405,125,428.25
	Including: Dividends and profit distributed to minority shareholders by
	subsidiaries				19,635,853.05	11,850,000.00
	Other cash paid relating to financing activities				76,655,451.75	100,835,760.16
	Subtotal of cash outflow from financing		activities		4,890,700,812.61	18,225,456,970.09
	Net cash flows from financing activities				3,245,883,472.34	-15,440,575,024.96
	**4. Effect on cash and cash equivalents **		from change of exchange rates		-130,539,728.19	112,358,017.33
	5. Net increase in cash and cash equivalents				-69,095,489.16	4,702,638,842.35
	Add: Balance of cash and cash equivalents at the beginning of the
	Reporting Period				6,383,660,211.45	4,879,308,489.33
	6. Balance of cash and cash equivalents at the end of the Reporting
	Period				6,314,564,722.29	9,581,947,331.68

— 14 —

Cash Flow Statement of Parent Company

					January -	January -
					September 2017	September 2016
	Items				RMB	RMB
	1. Cash flows from operating activities
	Cash received from sales of goods and provision of			services	22,360,739.16	22,496,331.65
	Cash received from return of taxes and fees				41,052.25	39,900.82
	Cash received from other related operating activities				503,657,816.86	6,546,474,637.60
	Subtotal of cash inflow from		operating activities		526,059,608.27	6,569,010,870.07
	Cash paid for goods and services				1,216,348.78	770,371.58
	Cash paid to or on behalf of		employees		70,197,760.89	23,102,521.15
	Taxes	paid			13,620,020.82	37,001,537.99
	Other	cash paid relating to operating activities			641,187,602.60	181,677,048.68
	Subtotal of cash outflow from operating activities				726,221,733.09	242,551,479.40
	Net cash flows from operating activities				-200,162,124.82	6,326,459,390.67
	2. Cash flows from investing activities
	Cash received from withdrawal of investment					4,066,312,000.00
	Cash inflow from return on investment				992,663,469.62	710,878,028.78
	Net cash received from disposal of subsidiaries and			other business units		5,332,385,800.00
	Subtotal of cash inflow from		investing activities		992,663,469.62	10,109,575,828.78
	Cash paid for purchase of fixed, intangible and other long-term assets				246,392.92
	Cash paid for investment				657,706,432.00	7,629,408,800.00
	Other	cash paid relating to investing activities			339,142,810.63
	Subtotal of cash outflow from investing activities				997,095,635.55	7,629,408,800.00
	Net cash flows from investing activities				-4,432,165.93	2,480,167,028.78
	3. Cash flows from financing activities
	Cash received from borrowings				1,000,000,000.00
	Other	cash received relating	to financing activities			1,143,854,000.00
	Sub-total of cash inflows of		financing activities		1,000,000,000.00	1,143,854,000.00
	Cash paid for payment of debts					6,122,945,000.00
	Cash paid for distribution of		dividends or profits and for interest expenses 766,786,243.59			740,344,077.20
	Other	cash paid relating to financing activities
	Subtotal of cash outflow from financing activities				766,786,243.59	6,863,289,077.20
	Net cash flows from financing activities				233,213,756.41	-5,719,435,077.20
	4. Effect on cash and cash equivalents from change of exchange rates -8,793,329.27					-2,034,760.74
	**5. Net increase in cash and **		cash equivalents		19,826,136.39	3,085,156,581.51
	Add: Balance of cash and cash equivalents at the beginning of the
	Reporting Period				2,648,015,576.70	375,220,780.02
	6. Balance of cash and cash equivalents at the end of the Reporting
	Period				2,667,841,713.09	3,460,377,361.53

— 15 —

This announcement is made in compliance with Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. The Company’s A Shares are listed on the Shanghai Stock Exchange, and the Shanghai Stock Exchange has required the Company to make an announcement similar to this announcement in Shanghai.

By order of the Board COSCO SHIPPING Energy Transportation Co., Ltd. Yao Qiaohong Company Secretary

Shanghai, the PRC 30 October 2017

As at the date of this announcement, the Board of Directors of the Company comprises Mr. Huang Xiaowen, Mr. Liu Hanbo and Mr. Lu Junshan as executive Directors, Mr. Feng Boming, Mr. Zhang Wei and Ms. Lin Honghua as non-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.

• for identification purpose only

— 16 —