Announcement • May 29
CSSC (Hong Kong) Shipping Company Limited, Annual General Meeting, Jun 23, 2026 CSSC (Hong Kong) Shipping Company Limited, Annual General Meeting, Jun 23, 2026, at 10:30 China Standard Time. Location: 1801, 18/f, world-wide house, 19 des voeux road central, Hong Kong New Risk • Mar 30
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 4.3% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (16% operating cash flow to total debt). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Mar 16
CSSC (Hong Kong) Shipping Company Limited to Report Fiscal Year 2025 Results on Mar 26, 2026 CSSC (Hong Kong) Shipping Company Limited announced that they will report fiscal year 2025 results on Mar 26, 2026 New Risk • Mar 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (15% operating cash flow to total debt). Minor Risk Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Upcoming Dividend • Jan 23
Upcoming dividend of HK$0.06 per share Eligible shareholders must have bought the stock before 30 January 2026. Payment date: 16 March 2026. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 7.2%. Within top quartile of Hong Kong dividend payers (6.8%). Higher than average of industry peers (6.4%). Announcement • Jan 08
Cssc (Hong Kong) Shipping Company Limited Announces Special Dividend, Payable on 16 March 2026 CSSC (Hong Kong) Shipping Company Limited announced special dividend of HKD 0.06 per share. Ex-dividend date is 30 January 2026. Record date is 05 February 2026. Payment date is 16 March 2026. Announcement • Jan 06
CSSC (Hong Kong) Shipping Company Limited Announces Board and Committees Changes, Effective January 6, 2026 CSSC (Hong Kong) Shipping Company Limited announced that, with effect from January 6, 2026, Mr. Zhang Qipeng has resigned as a non-executive Director due to adjustment of work reasons, and has also resigned from his positions as a member of the audit committee and the strategic and investment committee of the Board. Mr. Xie Weizhong has been appointed as a non-executive Director, a member of the audit committee and the strategic and investment committee of the Board. Mr. Xie, aged 57, has extensive senior management experience in the shipbuilding industry. Prior to the appointment as a non-executive Director, he served as deputy director of the office of the shipbuilding branch of Huangpu Shipyard, director of the factory office of Huangpu Shipyard, assistant to the general manager of Huangpu Shipyard, chairman of the trade union of Guangzhou Huangpu Shipyard Co. Ltd., and vice president of Guangzhou Naval Architecture and Ocean Engineering College. Currently, he is a director of China Shipbuilding Group Guangzhou Ship Industrial Co. Ltd. Mr. Xie obtained a bachelor’s degree in ideological and political education from Harbin Institute of Shipbuilding Engineering (now known as Harbin Engineering University) in August 1991, and a master’s degree in international finance and trade from the School of Economics at South-Central University for Nationalities (now known as School of Economics at South-Central Minzu University) in July 2003. Mr. Xie has obtained legal advice referred to under Rule 3.09D of the Listing Rules and understood his obligations as a director of a listed issuer and the possible consequences of making a false declaration or giving false information to The Stock Exchange of Hong Kong Limited. Mr. Xie has entered into a three-year service agreement with the Company, effective from January 6, 2026, and is subject to retirement by rotation at the Company’s annual general meeting in accordance with the Company’s articles of association. As at the date of this announcement, the Board comprises Mr. Li Hongtao and Mr. Liu Hui as executive Directors, Mr. Xie Weizhong and Mr. Chi Benbin as non-executive Directors, and Mr. Wang Dennis, Mdm. Shing Mo Han Yvonne, BBS, JP and Mr. Li Hongji as independent non-executive Directors. Board Change • Oct 05
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Dennis Wang was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Sep 22
Upcoming dividend of HK$0.05 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 13 November 2025. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 7.1%. Within top quartile of Hong Kong dividend payers (6.6%). In line with average of industry peers (6.7%). Upcoming Dividend • Sep 17
Upcoming dividend of HK$0.05 per share Eligible shareholders must have bought the stock before 24 September 2025. Payment date: 13 November 2025. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 7.1%. Within top quartile of Hong Kong dividend payers (6.6%). In line with average of industry peers (6.6%). New Risk • Aug 31
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 15% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. This is currently the only risk that has been identified for the company. Announcement • Aug 18
CSSC (Hong Kong) Shipping Company Limited to Report First Half, 2025 Results on Aug 28, 2025 CSSC (Hong Kong) Shipping Company Limited announced that they will report first half, 2025 results on Aug 28, 2025 Announcement • Jun 25
CSSC (Hong Kong) Shipping Company Limited Announces Resignation of Zhang Yi as Non-Executive Director, a Member of the Audit Committee and Strategic and Investment Committee, Effective 23 June 2025 The board of directors of CSSC (Hong Kong) Shipping Company Limited announced that Ms. Zhang Yi ("Ms. Zhang") has resigned as the non-executive Director, a member of the Audit
Committee and Strategic and Investment Committee of the Company with effect from 23 June 2025 due to her personal work arrangement. Ms. Zhang has confirmed that she has no disagreement with the Board and there is no matter relating to her resignation that needs to be brought to the attention of the shareholders of the Company and The Stock Exchange of Hong Kong Limited. Upcoming Dividend • Jun 25
Upcoming dividend of HK$0.10 per share Eligible shareholders must have bought the stock before 02 July 2025. Payment date: 14 July 2025. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 6.3%. Lower than top quartile of Hong Kong dividend payers (7.4%). In line with average of industry peers (6.8%). Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$2.15, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 6x in the Diversified Financial industry in Hong Kong. Total returns to shareholders of 105% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$2.51 per share. Declared Dividend • Jun 06
Final dividend increased to HK$0.10 Dividend of HK$0.10 is 16% higher than last year. Ex-date: 2nd July 2025 Payment date: 30th July 2025 Dividend yield will be 7.2%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (39% earnings payout ratio) and cash flows (14% cash payout ratio). The dividend has increased by an average of 14% per year over the past 6 years and payments have been stable during that time. EPS is expected to grow by 24% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 04
CSSC (Hong Kong) Shipping Company Limited, Annual General Meeting, Jun 27, 2025 CSSC (Hong Kong) Shipping Company Limited, Annual General Meeting, Jun 27, 2025, at 14:30 China Standard Time. Location: 1801, 18/f, world-wide house, 19 des voeux road central, Hong Kong Announcement • Mar 27
CSSC (Hong Kong) Shipping Company Limited Proposes Final Dividend for the Year Ended 31 December 2024, Payable on 30 July 2025 CSSC (Hong Kong) Shipping Company Limited proposed ordinary final dividend of HKD 0.104 per share for the Year Ended 31 December 2024. Payment date: 30 July 2025. Announcement • Mar 14
CSSC (Hong Kong) Shipping Company Limited to Report Fiscal Year 2024 Results on Mar 26, 2025 CSSC (Hong Kong) Shipping Company Limited announced that they will report fiscal year 2024 results on Mar 26, 2025 Announcement • Jan 03
CSSC (Hong Kong) Shipping Company Limited Announces Chief Executive Changes CSSC (Hong Kong) Shipping Company Limited announced that, the current employment contract with Mr. Li Xi ended on 31 December 2024, namely, Mr. Li Xi ceased to be the general manager of the Company with effect from 31 December 2024. During his tenure as the general manager of the Company, Mr. Li Xi also performed the duties of chief executive officer of the Company (the "Chief Executive Officer"). Upon the departure of Mr. Li Xi, Mr. Li Hongtao ("Mr. Li"), an executive director of the Company and the chairman of the Board, was appointed as the Chief Executive Officer with effect from 31 December 2024. Announcement • Jan 01
CSSC (Hong Kong) Shipping Company Limited Announces Resignation Ding Weisong as Company Secretary CSSC (Hong Kong) Shipping Company Limited announces that Mr. Ding Weisong ("Mr. Ding") has tendered his resignation as the company secretary of the Company with effect from 31 December 2024. The Board further announces that Mr. Wu Guanhua ("Mr. Wu") has been appointed as the company secretary of the Company with effect from 31 December 2024. Mr. Wu is a member of the Hong Kong Chartered Governance Institute and a member of the Hong Kong Institute of Certified Public Accountants. He has over 20 years of experience in financial management and reporting, accounting and auditing. Mr. Wu joined the Group from 2020 initially as the department director of finance department. Prior to joining the Company, Mr. Wu worked in a company listed on the The Stock Exchange of Hong Kong Limited and several accounting firms with extensive experience in finance, audit and corporate finance matters. Mr. Wu obtained a master's degree in corporate governance from The Hong Kong Polytechnic University in 2011 and a bachelor's degree in accounting from Hong Kong Baptist University in 2001. Upcoming Dividend • Oct 14
Upcoming dividend of HK$0.03 per share Eligible shareholders must have bought the stock before 18 October 2024. Payment date: 30 October 2024. Payout ratio is a comfortable 34% but the company is not cash flow positive. Trailing yield: 7.1%. Lower than top quartile of Hong Kong dividend payers (7.7%). Lower than average of industry peers (8.0%). Declared Dividend • Sep 29
First half dividend of HK$0.03 announced Dividend of HK$0.03 is the same as last year. Ex-date: 18th October 2024 Payment date: 30th October 2024 Dividend yield will be 7.1%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (34% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 15% per year over the past 5 years and payments have been stable during that time. EPS is expected to grow by 22% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Aug 28
CSSC (Hong Kong) Shipping Company Limited Announces Interim Dividend for the Six Months Ended 30 June 2024, Payable on 30 October 2024 CSSC (Hong Kong) Shipping Company Limited announced Interim Dividend for the six months ended 30 June 2024 of HKD 0.03 per share with Payment date 30 October 2024. Announcement • Aug 16
CSSC (Hong Kong) Shipping Company Limited to Report First Half, 2024 Results on Aug 28, 2024 CSSC (Hong Kong) Shipping Company Limited announced that they will report first half, 2024 results on Aug 28, 2024 Upcoming Dividend • Jun 25
Upcoming dividend of HK$0.09 per share Eligible shareholders must have bought the stock before 02 July 2024. Payment date: 31 July 2024. Payout ratio is a comfortable 39% but the company is not cash flow positive. Trailing yield: 7.6%. Lower than top quartile of Hong Kong dividend payers (7.9%). In line with average of industry peers (7.6%). Announcement • Jun 06
CSSC (Hong Kong) Shipping Company Limited, Annual General Meeting, Jun 27, 2024 CSSC (Hong Kong) Shipping Company Limited, Annual General Meeting, Jun 27, 2024, at 14:30 China Standard Time. Location: 1801, 18/f, world-wide house, 19 des voeux road central, Hong Kong Declared Dividend • Jun 06
Final dividend increased to HK$0.09 Dividend of HK$0.09 is 29% higher than last year. Ex-date: 2nd July 2024 Payment date: 31st July 2024 Dividend yield will be 7.7%, which is higher than the industry average of 7.3%. Sustainability & Growth Dividend is covered by earnings (39% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 15% per year over the past 5 years and payments have been stable during that time. EPS is expected to grow by 31% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 05
Cssc (Hong Kong) Shipping Company Limited Proposes Final Dividend for the Year Ended December 31, 2023, Payable July 31, 2024 CSSC (Hong Kong) Shipping Company Limited proposed final dividend of HKD 0.09 per share for the Year Ended December 31, 2023 (Updated). Ex-dividend date July 2, 2024, Record date July 8, 2024, Payment date July 31, 2024. Date of shareholders approval June 27, 2024. Announcement • May 24
CSSC (Hong Kong) Shipping Company Limited Announces Board and Committee Changes CSSC (Hong Kong) Shipping Company Limited announced that with effect from 23 May 2024: Mr. Zhong Jian has resigned as the chairman of the Board, an executive Director, the chairperson of each of the Nomination Committee, the Strategic and Investment Committee and the ESG and Sustainable Development Committee (collectively, the "Committees"), and Mr. Li Hongtao ("Mr. Li") was appointed as the chairman of the Board, an executive Director, the chairperson of each of the Nomination Committee, the Strategic and Investment Committee and the ESG and Sustainable Development Committee. Mr. Li, aged 58, has extensive experience in the management in the shipping industry. Before the appointment as the executive Director, Mr. Li successively served as deputy general manager and general manager of China Shipbuilding Industry Trading Co., Limited, chairman of China United Shipbuilding Company Limited, general manager and chairman of China Shipbuilding International Marine, Technology Co., Limited, general manager and chairman, of China Shipping International Trading Company Limited and chairman of China Shipbuilding Industry Trading Co., Limited. Mr. Li obtained his bachelor's degree and master's degree in geodesy from Wuhan Technical University of Surveying and Mapping in September 1987 and May 1990, respectively. Announcement • Mar 26
CSSC (Hong Kong) Shipping Company Limited Announces Final Ordinary Dividend for the Financial Year End 31 December 2023, Payable on July 31, 2024 CSSC (Hong Kong) Shipping Company Limited announced final ordinary dividend of HKD 0.09 per share for the financial year end 31 December 2023. Payment date 31 July 2024. Announcement • Mar 15
CSSC (Hong Kong) Shipping Company Limited to Report Fiscal Year 2023 Results on Mar 26, 2024 CSSC (Hong Kong) Shipping Company Limited announced that they will report fiscal year 2023 results on Mar 26, 2024 Buy Or Sell Opportunity • Feb 21
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at HK$1.37. The fair value is estimated to be HK$1.74, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Earnings per share has grown by 22%. Revenue is forecast to grow by 81% in 2 years. Earnings are forecast to grow by 25% in the next 2 years. Buying Opportunity • Oct 19
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 6.4%. The fair value is estimated to be HK$1.64, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Earnings per share has grown by 22%. Revenue is forecast to grow by 71% in 2 years. Earnings is forecast to grow by 25% in the next 2 years. Announcement • Aug 23
Cssc (Hong Kong) Shipping Company Limited Announces Interim Dividend for the Six Months Ended 30 June 2023, Payable on 28 October 2023 CSSC (Hong Kong) Shipping Company Limited announced interim dividend of HKD 0.03 per share for the six months ended 30 June 2023. Payment date is 28 October 2023. Announcement • Aug 11
CSSC (Hong Kong) Shipping Company Limited to Report Q2, 2023 Results on Aug 22, 2023 CSSC (Hong Kong) Shipping Company Limited announced that they will report Q2, 2023 results on Aug 22, 2023 Upcoming Dividend • Jun 21
Upcoming dividend of HK$0.07 per share at 7.2% yield Eligible shareholders must have bought the stock before 28 June 2023. Payment date: 28 July 2023. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 7.2%. Lower than top quartile of Hong Kong dividend payers (7.8%). In line with average of industry peers (7.4%). Announcement • Feb 03
CSSC (Hong Kong) Shipping Company Limited Provides Earnings Guidance for the Year Ended 31 December 2022 CSSC (Hong Kong) Shipping Company Limited provided earnings guidance for the year ended 31 December 2022. The revenue (unaudited) of the Group is expected to increase by approximately 30% as compared to that of 2021, and the profit for the year attributable to the equity holders of the Group for the year ended 31 December 2022 (unaudited) is expected to increase within an estimated range of 24% to 26% as compared to that of 2021, reaching the best level since the Company. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Dennis Wang was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Nov 06
Less than half of directors are independent Following Non-Executive Director Qipeng Zhang's arrival on 01 November 2022, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Dennis Wang was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Sep 15
Upcoming dividend of HK$0.03 per share Eligible shareholders must have bought the stock before 22 September 2022. Payment date: 07 October 2022. Payout ratio is a comfortable 35% but the company is not cash flow positive. Trailing yield: 7.0%. Lower than top quartile of Hong Kong dividend payers (8.3%). In line with average of industry peers (7.4%). Upcoming Dividend • Jun 28
Upcoming dividend of HK$0.06 per share Eligible shareholders must have bought the stock before 05 July 2022. Payment date: 29 July 2022. Payout ratio is a comfortable 41% but the company is not cash flow positive. Trailing yield: 6.2%. Lower than top quartile of Hong Kong dividend payers (7.8%). In line with average of industry peers (6.8%). Board Change • Apr 27
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. Independent Non-Executive Director Hongji Li is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Upcoming Dividend • Sep 03
Upcoming dividend of HK$0.03 per share Eligible shareholders must have bought the stock before 10 September 2021. Payment date: 30 September 2021. Trailing yield: 6.9%. Within top quartile of Hong Kong dividend payers (6.6%). Higher than average of industry peers (4.6%). Valuation Update With 7 Day Price Move • Jul 27
Investor sentiment deteriorated over the past week After last week's 16% share price decline to HK$1.12, the stock trades at a trailing P/E ratio of 6.2x. Average forward P/E is 9x in the Diversified Financial industry in Hong Kong. Total returns to shareholders of 16% over the past year. Upcoming Dividend • Jun 29
Upcoming dividend of HK$0.06 per share Eligible shareholders must have bought the stock before 05 July 2021. Payment date: 30 July 2021. Trailing yield: 6.1%. Within top quartile of Hong Kong dividend payers (6.1%). Higher than average of industry peers (4.8%). Valuation Update With 7 Day Price Move • May 18
Investor sentiment improved over the past week After last week's 19% share price gain to HK$1.50, the stock trades at a trailing P/E ratio of 8.3x. Average trailing P/E is 9x in the Diversified Financial industry in Hong Kong. Total returns to shareholders of 64% over the past year. Valuation Update With 7 Day Price Move • Apr 26
Investor sentiment improved over the past week After last week's 16% share price gain to HK$1.45, the stock trades at a trailing P/E ratio of 8x. Average trailing P/E is 11x in the Diversified Financial industry in Hong Kong. Total returns to shareholders of 54% over the past year. Is New 90 Day High Low • Jan 20
New 90-day high: HK$1.32 The company is up 15% from its price of HK$1.15 on 22 October 2020. The Hong Kong market is up 19% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Diversified Financial industry, which is up 6.0% over the same period. Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment improved over the past week After last week's 21% share price gain to HK$1.32, the stock is trading at a trailing P/E ratio of 8.7x, up from the previous P/E ratio of 7.2x. This compares to an average P/E of 7x in the Diversified Financial industry in Hong Kong. Total returns to shareholders over the past year are 24%. 
