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An announcement from COSCO SHIPPING Holdings Co ( (HK:1919) ) is now available.
COSCO SHIPPING Holdings has agreed, via its indirect non-wholly owned subsidiary COSCO Asset Management, to commission the construction of six 3,000 TEU container vessels from affiliate Heavy Industry (Zhoushan) at a total contract value of RMB1.98 billion, with delivery scheduled between June and December 2028. Classified as a connected transaction under Hong Kong Listing Rules due to common control by COSCO SHIPPING, the deal will be financed through a mix of offshore debt and/or bank loans of up to 60% of each vessel’s price and the company’s internal resources, and—when aggregated with previous related-party deals—remains subject only to reporting, annual review and announcement requirements, underscoring the group’s continued fleet expansion while highlighting ongoing governance and compliance scrutiny around connected transactions.
The most recent analyst rating on (HK:1919) stock is a Sell with a HK$10.40 price target. To see the full list of analyst forecasts on COSCO SHIPPING Holdings Co stock, see the HK:1919 Stock Forecast page.
More about COSCO SHIPPING Holdings Co
COSCO SHIPPING Holdings Co., Ltd. is a major Chinese container shipping and logistics group, with operations spanning liner shipping and related asset management through subsidiaries such as COSCO Asset Management. The company is controlled by COSCO SHIPPING and is listed in Hong Kong, with its fleet expansion and asset investments closely watched by investors given its role in global container trade.
Average Trading Volume: 23,705,502
Technical Sentiment Signal: Strong Buy
Current Market Cap: HK$249.4B
See more data about 1919 stock on TipRanks’ Stock Analysis page.