CSCL Announced the 2007 Interim Results

China shipping Container Liners Co., Ltd (CSCL) announced the 2007 Interim results on 9 Aug, 2007, 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 Shangri-La Hotel. More than 110 fund managers and investing analysts from around 80 large securities in Europe, Asia and America attended the results presentation. Nearly 80 media delegates from local, PRC and foreign countries located in Hong Kong attended the press releasing.
For the period, CSCL recorded a turnover of RMB17,379,318,000, achieving an increase of 24.4% as compared with the same period last year. Profit attributable to equity holders increased by 1,322.7% as compared with the same period last year to RMB1,155,110,000. Basic earnings per share amounted to RMB0.19, representing an increase of 1,322.7% as compared with the same period in 2006.
In the first half of 2007, with the recovery of shipping industry, the freight rates for the Group s international trade routes represented by the Far East/Europe trade route, and domestic costal trade routes have successively achieved strong growth. The Group has enhanced the profit margin through container resource allocation, addition of new trade routes and optimization of existing trade routes, etc .The Group was delivered a total of three vessels each with a capacity of 9600 TEU, further strengthening its fleet structure, reducing the unit operating cost per TEU and being able to provide better services to its customers. To satisfy the requirement of sales network and integrative services , the Group formed a beneficial cargo owner service team to provide standardised and integrated services for its global beneficial cargo owners. The Group further promoted fine management and detailed cost control measures. Moreover, the Group was able to enhance its profit by the development of the shipping market along the Yangtze River, expanding sea-rail combined transportation, increasing investment in emerging markets such as Vietnam to broaden its services and capture more business opportunities.
More than 110 investors and 80 reporters were concerned about the operating performance. They asked questions actively and especially interested in the business strategies and operating emphasis of CSCL in future. The plan to raise funds via the A-share market became the focus of all the investors.
Since it was established ten years ago, the Group has been adhering to the principle of seizing every opportunity to achieve rapid growth . Today, the Group has positioned itself on a new starting point to achieve further rapid development. Looking into the future, the Group will focus on the following aspects.The Group will continue to reinforce and expand its fleet. The Group will continue to optimize overall arrangement of trade lanes, enhance cooperation with other liner shipping companies. The Group will continue to maintain its domestic quality trade lanes so as to foster its leading position therein. The Group has also set higher standard for all trade lanes, including changing supply configuration of cargo, soliciting quality clients and increasing the proportion of long-term clients etc. More over , in view of the thriving PRC capital market, the Group intends to raise funds via the A-share market in the PRC in the second half of 2007 for the construction of container vessels, purchase of high quality assets related to the Group s core business from its parent company and strengthen of the Group s operating capital, which will open a new page in the Group s development. CEO Mr. Li promised to seize the good opportunity in shipping and capital markets and do better.