COSCO SHIP ENGY (01138.HK) unit injects RMB243 million into Huahai to fund newbuild payments

NewTimeSpace News: On November 9, 2026, COSCO SHIPPING Energy Transportation Co., Ltd. (01138.HK/600026.SH) announced that its 51%-owned subsidiary COSCO Shipping Petroleum Transportation Co., Ltd. injected RMB243.1208 million (about RMB243 million) in cash into its wholly-owned subsidiary Huahai Petroleum Transportation & Sales Co., Ltd., funded by the company's own resources.

The injection is intended to optimize Huahai's capital structure, secure payment of subsequent construction instalments for newbuildings and replenish working capital, further enhancing its market competitiveness. The injection was approved by the board at the company's 16th board meeting of 2026 with nine votes in favour, none against and no abstentions, and does not require submission to the shareholders' meeting; it does not constitute a connected transaction or a major asset restructuring.

Huahai was established on July 13, 1985, with registered and paid-up capital of both RMB56.8792 million, and is registered at No. 5 Ganlu Hutong, Xicheng District, Beijing, in the waterborne freight transport industry. As at September 30, 2026 (unaudited), Huahai had total assets of RMB487 million, total liabilities of RMB328 million and total owners' equity of RMB158 million, with a debt-to-asset ratio of 67.47%; for the first nine months of 2026 it recorded revenue of RMB133 million and net profit of RMB3.84 million. Including this injection, the company's outbound investments over the past 12 months totalled nine transactions amounting to about RMB11.716 billion, not exceeding 50% of its audited net assets.