Corporate Governance and Strategic Development: COSCO SHIPPING Energy Transportation Co., Ltd.
On 26 January 2026 the board of directors of COSCO SHIPPING Energy Transportation Co., Ltd. (stock code 600026) convened its first meeting of the year. The meeting, held by written ballot, was conducted in accordance with the Company Law of the People’s Republic of China and the Company’s Articles of Association.
Key Resolutions
| Item | Resolution | Vote |
|---|---|---|
| 1 | Transfer of land and buildings in Dalian to the municipal urban renewal centre – The fully‑owned subsidiary, Hainan COSCO Shipping Energy Transportation Co., Ltd., agreed to deliver the property at 29‑1, 29, Qiqiang Street, Dalian to the Dalian Municipal Urban Renewal Affairs Centre for state storage. | 10 for / 0 against / 0 abstentions |
| 2 | Construction of two MR‑type oil tankers – The subsidiary COSCO Shipping Oil Transportation Co., Ltd. approved investment in the construction of two MR‑type crude and finished‑oil vessels at Guangchuan International Co., Ltd. The total investment is estimated at ¥72 million yuan, with each vessel costing approximately ¥36 million. | 10 for / 0 against / 0 abstentions |
| 3 | Financing for 2025 ship‑upgrade projects – The board authorised the financing plan for the 2025 technical improvement projects of the Company and Hainan COSCO. | 10 for / 0 against / 0 abstentions |
| 4 | Amendment of the Articles of Association – Following the 2025 shareholders’ meetings (ordinary and H‑share), the board approved revisions to Articles 5 and 19 to reflect changes in the total share capital and share structure after the issue of shares to a specific group in October 2025. | 10 for / 0 against / 0 abstentions |
The board confirmed that all resolutions were made in the best interests of the Company and its shareholders and that the information disclosed is accurate and complete.
Legal Opinion
On 27 January 2026, the Shanghai law firm Guohao Law (Shanghai) provided a legal opinion on the 2026 temporary shareholders’ meeting of COSCO SHIPPING Energy Transportation. The opinion, published through the Xueqiu platform, confirmed compliance with relevant corporate governance standards and supported the validity of the board’s decisions.
Market Context
- Stock Performance – The Company’s shares (HK $13.66 on 25 January 2026) rose more than 6 % on 26 January, contributing to the upward movement of the CSI 931233 Central‑Enterprise Dividend Index, which increased 1.08 %. The index’s dividend yield reached 5.96 % by 23 January.
- Sector Momentum – Oil‑and‑gas themed stocks, including COSCO SHIPPING Energy, performed strongly. ETFs tracking oil‑and‑gas concepts rose over 3 %, with the industry’s top performers (e.g., China National Offshore Oil, COSCO SHIPPING Energy, China National Chemical) each posting gains above 4 %.
- Capital Flow – The Central‑Enterprise Dividend ETF (159281) attracted net inflows of 22 million shares on 26 January, reflecting investor appetite for high‑dividend central‑enterprise stocks.
Implications
The board’s approvals of new vessel construction and ship‑upgrade financing signal continued investment in fleet expansion and modernization. The transfer of Dalian property aligns with municipal urban renewal initiatives, potentially reducing the Company’s land liabilities. Amendments to the Articles of Association are necessary to maintain consistency with the 2025 share capital changes.
Together, these actions support COSCO SHIPPING Energy Transportation’s strategic objectives of expanding its marine transport capacity while maintaining compliance with regulatory and governance standards.
