1. People's Republic of China Stocks

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    Marine Shipping
COSCO SHIPPING Development Co., Ltd.

COSCO SHIPPING Development Co., Ltd.

2866.HK
COSCO SHIPPING Development Co., Ltd.HK flagHong Kong Stock Exchange
0.88
HKD
- -
- -
25.94BMarket Cap
COSCO SHIPPING Development Co., Ltd.
2866.HK
(Hong Kong Stock Exchange)

Recent

price

0.88

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
2.98
2.42
2.86
2.94
3.1
3.14
1.36
1.4
1.43
1.05
1.48
3.04
1.9
1.16
2.04
1.9
2.11
Revenue per Share
0.36
-0.23
0.04
-0.23
0.09
-0.02
0.03
0.13
0.12
0.13
0.16
0.5
0.29
0.1
0.12
0.12
0.13
Basic EPS, GAAP
0.29
-0.65
-0.16
-0.31
-0.26
-0.72
-0.59
-0.31
-1.15
-1.29
-1.78
-1.61
0.01
-0.03
-0.24
-0.34
-0.76
Free Cash Flow per Basic Share
0.03
0.03
0.05
0.05
0.05
0.09
0.17
0.27
0.35
0.38
0.35
0.29
0.43
0.39
0.37
0.32
0.35
Dividend per Share
0.99
0.75
0.8
0.57
0.66
1.62
1.27
1.37
1.49
1.34
1.39
2.09
1.94
1.95
1.99
2.08
2.05
Book Value per Share
2.55
2.29
2.34
2.06
2.13
3.86
1.14
1.42
1.53
1.77
1.96
2.62
2.09
2.12
2.21
2.31
2.27
Tangible Book Value per Share
11,682
11,684
11,693
11,683
11,688
11,656
11,701
11,686
11,688
13,586
13,671
12,233
13,525
13,536
13,531
13,257
13,346
Basic Weighted Avg Shares
34,835
28,281
33,425
34,341
36,233
36,581
15,965
16,341
16,684
14,229
20,220
37,168
25,634
15,685
27,627
25,201
28,125
Sales/Revenue/Turnover
12.22
-9.86
-3.37
-8.28
1.13
-1.34
6.24
16.59
21
19.1
19.51
24.76
23.54
23.25
13.16
14.33
13.24
Operating Margin (%)
1,386
1,458
1,530
1,546
1,591
2,909
2,835
3,275
3,206
3,141
3,464
2,166
2,320
2,533
2,775
3,007
- -
Depreciation Expense
4,203
-2,743
523
-2,646
1,061
-199
369
1,462
1,386
1,743
2,141
6,091
3,922
1,409
1,686
1,609
1,761
Net Income, GAAP
- -
- -
- -
- -
- -
197.94
- -
- -
- -
- -
13.56
- -
- -
- -
- -
- -
12.31
Effective Tax Rate (%)
12.07
-9.7
1.56
-7.71
2.93
-0.54
2.31
8.95
8.31
12.25
10.59
16.39
15.3
8.98
6.1
6.39
6.26
Profit Margin (%)
4,889
551
6,599
3,928
102
-12,917
-20,885
-16,379
-24,702
-24,468
-26,622
-20,313
-17,186
-15,590
-21,243
-26,157
-26,381
Working Capital
10,060
12,595
17,153
12,709
15,257
28,475
65,529
66,653
61,207
63,273
53,875
45,412
56,556
57,798
55,698
53,030
49,837
LT Debt
29,962
26,901
27,474
24,218
24,877
45,277
13,563
16,745
18,037
24,208
27,406
32,689
28,893
29,284
30,606
31,228
30,997
Total Equity
- -
- -
- -
- -
- -
0.64
- -
- -
- -
- -
2.48
- -
- -
- -
- -
- -
2.7
Return on Invested Capital (%)
- -
- -
- -
- -
- -
-1.66
- -
- -
- -
- -
3.08
- -
- -
- -
- -
- -
4.36
Return on Capital (%)
44.48
-27.03
5.78
-33.18
14.77
-1.5
2.18
9.49
8.31
9.8
11.53
27.36
15.14
5.35
6.32
5.9
6.49
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
ST Debt
33,152
44,417
42,356
LT Borrowings
55,542
47,649
49,721
LT Finance Leases
156
133
116
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
13,576
13,504
13,310
Market Capitalization
13,226
12,074
12,910

Working Capital

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
Total Current Assets
18,128
21,295
22,351
Cash, Cash Equivalents & STI
8,736
11,056
10,977
Accounts Receivable, Net
2,552
3,282
3,957
Inventories
2,268
2,414
2,114
Total Current Liabilities
39,371
50,509
48,732
Payables & Accruals
- -
- -
- -
ST Debt
33,152
44,417
42,356
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
2.41%
3.11%
2.03%
Free Cash Flow
34.34%
13.45%
38.45%
Net Income, GAAP
15.5%
19.98%
-4.54%
Sales/Revenue/Turnover
5.68%
16.27%
-8.78%
Total Cash Common Dividend
19.77%
1.96%
-14.94%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
4,940
6,821
8,112
7,755
27,627
2025
5,418
6,840
5,635
- -
25,201
2026
5,986
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.03
- -
- -
- -
0.12
2025
0.04
- -
- -
- -
0.12
2026
0.03
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.08
- -
- -
- -
0.37
2025
0.07
- -
- -
- -
0.32
2026
0.07
- -
- -
- -
- -
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Business
COSCO SHIPPING Development Co., Ltd. (Stock Codes: 601866.SH, 02866.HK) is a subsidiary of China COSCO SHIPPING Corporation Limited engaged primarily in container manufacturing, container leasing, shipping leasing, and investment management within the shipping and logistics industry. Established in 1997 and headquartered in Shanghai, China, the company manufactures international-standard dry cargo containers, refrigerated containers, special containers, and container houses, while providing after-sales services, integrated shipping, logistics solutions, and finance leasing; it ranks as the world's second-largest container manufacturer serving global shipping lines and leasing firms, and leads domestically in ship leasing for container ships and dry bulk carriers with a focus on green, low-carbon vessels. Its container leasing operations emphasize full lifecycle asset management with a global footprint, and investment management drives industry-finance integration through equity, debt, and strategic emerging sector investments along the shipping supply chain. The company operates across domestic and international markets, targeting shipping lines, leasing companies, and logistics providers with synergies between manufacturing, leasing, and finance to support smart manufacturing, digital transformation, and low-carbon advancements. In July 2025, its wholly-owned subsidiary Hainan COSCO SHIPPING Development Co., Ltd. signed shipbuilding contracts for ten 210,000 DWT methanol- and ammonia-ready Newcastlemax bulk carriers with Zhoushan Heavy Industry Co., Ltd. and China State Shipbuilding Corporation affiliates, totaling approximately RMB5.28 billion, followed by a 20-year leasing agreement with COSCO SHIPPING Bulk Co., Ltd. for annual hires of about RMB638 million. In October 2025, it entered further contracts for twenty-three 87,000 DWT methanol-ready eco-friendly bulk carriers with Heavy Industry (Dalian) at RMB7.337 billion and a corresponding 20-year leasing deal with COSCO SHIPPING Bulk, enhancing its vessel asset scale, long-term revenue stability, and RMB-denominated international shipping initiatives.