On March 14, China COSCO Shipping Corporation Limited issued an announcement on its official website regarding changes in the company's board of directors and the resignation of its general manager. The announcement stated that Chairman and Director Mr. Wang Xiufeng and General Manager Mr. Song Rong have submitted their resignation applications and have resigned from their respective positions within the company.

According to the announcement, the board of directors of China COSCO Shipping Corporation Limited received Mr. Wang Xiufeng's resignation letter. Mr. Wang resigned from his position as Chairman and Director due to work adjustments, effective from March 14, 2025. As a result, Mr. Wang will no longer serve as a member of the Board's Nomination Committee or as Chairman of the Strategy and Sustainable Development Committee. In accordance with the Company Law and other relevant laws and regulations, Mr. Wang's resignation will not cause the board to fall below the statutory minimum number of directors, and it will not affect the normal operation of the board or the company's regular business operations. Mr. Song Rong also resigned from his position as General Manager due to work adjustments, effective from March 14, 2025. The company will appoint a new General Manager as soon as possible in accordance with the Company Law and the company's articles of association.

On the same day, the company held the 7th meeting of the 4th Board of Directors, where it passed a proposal regarding the election of company directors. The board agreed to elect Mr. Zhang Yi as a candidate for director, with a term from the approval date by the shareholders' meeting until the end of the 4th Board's term. The proposal will be submitted for approval at the company's shareholders' meeting.

China COSCO Shipping Corporation Limited

As the logistics flagship of China Merchants Group, China COSCO Shipping is responsible for the unified operations and brand development of the group's logistics sector. Since its successful listing on the Hong Kong Stock Exchange on February 13, 2003, and its subsequent listing on the Shanghai Stock Exchange on January 18, 2019, China COSCO Shipping has become a prominent "A+H" dual-platform listed company, demonstrating its strong capital operation capabilities and market influence.

In the latest global logistics industry developments, China COSCO Shipping once again showcased its outstanding position on the international stage. According to the 2024 Global Top 50 Ocean/ Air Freight Forwarding Companies ranking published by the authoritative global logistics journal Transport Topics, China COSCO Shipping achieved a remarkable second place globally and first place in Asia in the ocean freight forwarding sector. This ranking not only solidifies its leadership in the global ocean freight market but also highlights the rise of Asian logistics power. In air freight forwarding, China COSCO Shipping also performed excellently, ranking fifth globally and first in Asia, further proving its comprehensive logistics service capabilities across fields and borders.