Formerly |
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Type | listed | ||||
SEHK: 517 | |||||
Industry | Shipping | ||||
Predecessor | Shun Shing Construction | ||||
Founded | 1991 | ||||
Headquarters |
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Area served | Worldwide | ||||
Products |
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Services |
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Revenue | HK$3266 million (2019) | ||||
HK$ 331 million (2019) | |||||
Total assets | HK$9377 million (2019) | ||||
Total equity | HK$7926 million (2019) | ||||
Owner | COSCO Shipping HK (66.12%) | ||||
Parent | COSCO Shipping (via COSCO Shipping HK) | ||||
Subsidiaries | Shun Shing Construction (sold) | ||||
Chinese name | |||||
Traditional Chinese | 中遠海運國際(香港)有限公司 | ||||
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short name | |||||
Traditional Chinese | 中遠海運國際 | ||||
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former name | |||||
Traditional Chinese | 中遠國際控股有限公司 | ||||
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Website | hk | ||||
Footnotes /references in consolidated financial statements [1] |
COSCO Shipping International (Hong Kong) Co.,Ltd.,stylized as COSCO SHIPPING International,and formerly COSCO International Holdings Limited,is a Hong Kong listed company and an indirect subsidiary of COSCO Shipping. It engages in ship trading and supplying services.[ citation needed ] It is headquartered in Hong Kong and it is listed in the Stock Exchange of Hong Kong (SEHK) since 1992.
COSCO Shipping International (Hong Kong) is incorporated in Bermuda, [2] as an offshore company. It is a red chip company. [3]
The company became a listed company since 1992. The company was known as Shun Shing Holdings and then COSCO International and currently COSCO Shipping International (Hong Kong).
Shun Shing Holdings is a company incorporated on 9 September 1991 in Bermuda [4] and registered as a "foreign company" in Hong Kong in 1992. [5] On 11 February 1992,Shun Shing Holdings became a listed company. [3] It is a parent company of a Hong Kong-based main contractor,Shun Shing Construction &Engineering (or in short,Shun Shing Construction ;Chinese :順成建築工程). Shun Shing Construction had Singapore branch in the past. The Singapore unit formed a joint venture with Low Keng Huat and was awarded a contract as a main contractor for a residential housing estate project in 1994. [6]
In 1997,the listed company was acquired by China Ocean Shipping (Group) Corporation (COSCO). The listed company suffered from an accounting scandal afterwards,as the new external auditors employed by the new owner,failed to discover the accounting irregularity made by the previous ownership. The scandal later led to Hong Kong Institute of Certified Public Accountants (HKICPA) sue its own sub-committee. [7] HKICPA once start a disciplinary investigation on the auditors but the sub-committee cancelled it. HKICPA demanded in the court to authorize themselves to re-elect a new board for the sub-committee,and restart the disciplinary investigation .
In 1997 the listed company was acquired by the Hong Kong division of China Ocean Shipping (Group) Corporation (COSCO). [8] After the acquisition,the listed company,known as COSCO International at that time,engaged in real estate,civil construction and provides services for ship. [8] It also sold paints to shipping companies [9] as well as a provider of marine insurance. [10]
In 2001,COSCO International was the developer of Broadview Court,a public housing estates in Wong Chuk Hang (Private Sector Participation Scheme). [11] The client of the project is the Housing Authority,while the estate was sold to the general public as part of the Home Ownership Scheme.
In 2005,the listed company sold eight floors of COSCO Tower,an office building,to its direct parent company,COSCO (Hong Kong),for HK$1.4 billion. [12] In February 2007,the listed company sold its former main business,Shun Shing Construction,to the parent company. [13]
COSCO International was a shareholder of a fellow listed company,fellow land developer,Sino-Ocean Group. However,it was announced to sell of their shareholding in 2010. At that time,COSCO International was the second largest shareholder of Sino-Ocean Group for 16.85% stake. [14]
In 2015,the ultimate parent company,COSCO,merged with China Shipping Group to become China COSCO Shipping,or known as COSCO Shipping. Thus,the listed company was renamed into COSCO Shipping International (Hong Kong) Co.,Ltd.. [15]
In 2018,the company acquired a manufacturer of marine paint as part of a vertical integration strategy of the company. [16]
COSCO Shipping International (Hong Kong) is a listed company. As of November 2020,the market capitalization is HK$4 billion [3] (Not yet free-float adjusted).
As of 31 December 2019 [update] ,private company,COSCO Shipping (Hong Kong),is the parent company of COSCO Shipping International,which owns 66.12% shares of COSCO Shipping International (Hong Kong). [17] COSCO Shipping (Hong Kong) is in turn parented by Mainland China incorporated China Ocean Shipping Company (COSCO) and ultimately,China COSCO Shipping (COSCO Shipping). COSCO Shipping is one of the entity that was supervised by the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council,making COSCO Shipping International qualifies for one of the criteria of red chip.
Fellow listed companies COSCO Shipping Ports,COSCO Shipping Holdings,COSCO Shipping Development,COSCO Shipping Energy,COSCO Shipping International (Singapore), [18] are sister companies of COSCO Shipping International (Hong Kong). None of them are shareholders/subsidiaries of COSCO Shipping International (Hong Kong). [18]
COSCO Shipping International (Singapore) privatized fellow listed company Cogent Holdings in 2017, [19] [20] [21] but not COSCO Shipping International (HK).
Sing Tao Holdings Limited was a Bermuda-incorporated company,but headquartered in Hong Kong. The company was listed in The Stock Exchange of Hong Kong. The company was a media and property conglomerate until it was dismantled in 2002. After selling the main media business and subsequent takeover in mid-2002,the legal person of the listed company,along with its property business,was renamed into Shanghai Ming Yuan Holdings.
China Ocean Shipping Company,Limited,formerly China Ocean Shipping (Group) Company,commonly known for its abbreviated name COSCO Group,or simply,COSCO,is a former Chinese Government owned shipping and logistics services supplier company. It is one of the major holding company for China COSCO Shipping. China COSCO Shipping itself is formed by a merger of COSCO Group and China Shipping Group as one conglomerate,by a creation of a new common parent company of the two groups.
Haw Par Corporation Limited is a Singaporean company involved in healthcare,leisure products,property and investment. It is the company responsible for Tiger Balm branded liniment (ointment). Its brands also included Kwan Loong and it also owns and operates weekend and leisure time destinations such as oceanariums.
Red chip stocks are the stocks of mainland China companies incorporated outside mainland China and listed in Hong Kong. It refers to businesses based in mainland China and with (majority) shares controlled either directly or indirectly by a government body. This controlling entity could be one or more combinations of the central,provincial or municipal mainland government,with the company listed in Hong Kong to allow private and overseas investment.
The Cosco Tower is an office tower in the Grand Millennium Plaza in western Hong Kong Island in Hong Kong. The tower has a total structural height of 228 m (748 ft). Construction of the Cosco Tower was completed in 1998. There are 56 floors,53 of which are above ground.
Huaneng Power International,Inc. (HPI),commonly known as Huaneng Power,is a Chinese electric power company. It was established in 1994 by the China Huaneng Group,one of the five largest power producers in China. It engages in the development,construction and operation of large power plants.
COSCO Shipping Energy Transportation Co.,Ltd.,stylized as COSCO SHIPPING Energy,is a Chinese oil tanker shipping company with its headquarters in Hongkou District,Shanghai. The company transports crude oil,LNG,and LPG. It is a subsidiary of COSCO Shipping. It is the world's largest oil tanker shipping company in terms of fleet capacity.
China International Marine Containers (Group) Co.,Ltd is a Chinese company principally engaged in the manufacture and sale of transportation equipment,such as containers,road transport vehicles and airport ground-handling equipment.
COSCO Shipping Ports Limited,stylized as COSCO SHIPPING Ports is a Hong Kong listed company and investor in ports. The company is formerly known as COSCO Pacific Limited and was an indirect subsidiary of China Ocean Shipping (Group) Company (COSCO) and now part of its successor,China COSCO Shipping group. It is mainly engaged in container terminal operations,container manufacturing and leasing,shipping agency and freight forwarding.
China Shipping Group Company,Limited,formerly China Shipping (Group) Company,is a former Chinese state-owned shipping conglomerate. It is now one of the intermediate holding company for another Chinese state-owned conglomerate,China COSCO Shipping,which is formed by a merger of China Ocean Shipping Company (COSCO) and China Shipping Group by the creation of a new parent company for the two conglomerates.
China Taiping Insurance Holdings Company Limited (CTIH) formerly China Insurance International Holdings Company Limited (CIIH),is a Chinese insurance conglomerate. The company has strong Chinese Central Government background despite being incorporated in Hong Kong. It is considered as a red chip company.
China Aerospace International Holdings Limited is a Hong Kong incorporated holding company. The company itself is a subsidiary of China Aerospace Science and Technology Corporation and a listed company on the Stock Exchange of Hong Kong. It is a red chip company,but not part of the "red chip index" of the stock exchange.
Orient Overseas (International) Limited (OOIL) is a Hong Kong,China based investment holding company involved in international transportation and logistics,and property investment and property development. It is the parent company of Orient Overseas Container Line (OOCL),one of the world's largest container shipping companies.
Concord New Energy Group Limited is an investment holding company and is listed on the Hong Kong stock exchange with its Hong Kong headquarters at Admiralty,Hong Kong. The company had a management office in Beijing. The Company and its subsidiaries are engaged in engineering,procurement and construction (EPC),operation and maintenance of wind power plants,the manufacture of wind power equipment and other wind power related business. The listed company and its predecessor,had a few former names:Nam Pei Hong (Holding) Limited,Nam Pei Hong International Holdings Limited,N P H International Holdings Limited,Hong Kong Pharmaceutical Holdings Limited and most recently China Windpower Group Limited.
CITIC Telecom International CPC Limited,formerly known as PSINet HK and CPCNet,is a wholly owned subsidiary of CITIC Telecom International Holdings Limited,and is a technological company involved in managed cloud computing,IP networking,information security,and data center services.
China COSCO Shipping Corporation Limited,abbreviated as COSCO Shipping,is a Chinese state-owned multinational conglomerate headquartered in Shanghai. The group is focused on marine transportation services. COSCO Shipping was established in January 2016 by the merger of COSCO Group and China Shipping Group.
China Everbright International Limited is a Hong Kong incorporated company that specialized in environmental resource management in mainland China.
CSC Financial Co.,Ltd. trading as China Securities,is a Chinese investment bank and brokerage firm established by CITIC Securities and China Jianyin Investment in 2005 in a 60–40 ratio,as a successor of bankrupted China Securities Co.,Ltd. (CSC). However,the firm now majority owned by Jianyin Investment's parent company Central Huijin Investment and an asset managing subsidiary of Beijing Municipal People's Government.
HGC Global Communications Limited,formerly known as Hutchison Global Communications Limited,is an internet service provider of Hong Kong. In the past it was part of Hutchison Telecommunications,itself part of a mega-conglomerate CK Hutchison Holdings. Hutchison Global Communications was a listed company,via its parent company Hutchison Global Communications Holdings from 2004 to 2005.
COSCO SHIPPING Lines Co.,Ltd. is a Chinese international container transportation and shipping company. It is a subsidiary of COSCO Shipping Holdings,and its parent company is China's state-owned COSCO Shipping.