CSCL ANNOUNCES 2010 INTERIM RESULTS

China shipping Container Liners Co., Ltd (CSCL) announced the 2010 Interim results on 26th Aug , 2010, which is concerned by all parties. The Chairman of CSCL, Mr. Li Shaode, the managing director, Mr. Huang Xiaowen and other management attended the press releasing and the results presentation held in the Conrad Hong Kong.
The global economy bottomed out in the second half of 2009 and continued to improve in the first half of 2010.During the Period, the Group recorded a revenue of RMB16,026,920,000, representing an increase of 79.5% as compared with that of the same period last year. Net profit attributable to equity holders of the Company for the Period amounted to RMB1,171,404,000, Basic earnings per share was RMB0.10.
The remarkable improvement in the Group s operating results for the Period was mainly attributable to the following measures taken by the management according to the market. Grasp the opportunities brought about by the market rebound and proactively push ahead with market development. Adhere to the principle of prioritizing economical benefits and optimize its trade lanes and the allocation of shipping capacity. Deepen the philosophy of refined management by implementing strict cost control and achieved remarkable results . The Group seized the opportunities to purchase and order containers at low prices, secure certain fuel price at favourable terms, apply ultra-slow voyage speed on trial basis, optimize transhipment routes.
In the second half of the year, the European debts crisis, the slow recovery of the U.S. economy, the declining PRC s GDP and other negative factors have brought the industry with uncertainties in the fourth quarter. Facing such complicated business outlook, the Group remains confident about the industry and will continue to implement its prudent operating strategies:
1.Strengthen the cooperation among trade lanes, further optimize the trade lanes network and maximize the efficiency of trade lanes.
2.Continue to refine the specifics of cost control.
3. Continue to increase efforts on developing the market of sea-to-rail intermodal transportation.
4. Enhance safety management, proactively proceed with information system construction.
5.Plan ahead and get prepared for the traditional low season by taking a proactive approach, and try to minimize future risks through the rational deployment of shipping capacity and market expansion.