COSCO Shipping International

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{{cite web|url=http://www.roc.gov.bm/roc/rocweb.nsf/public+register/c+public+companies|title=Review of Companies Register|accessdate=14 December 2020|publisher=Bermuda Registrar of Companies}} and registered as a "foreign company" in Hong Kong in 1992.Hong Kong Companies Registry On 11 February 1992, Shun Shing Holdings became a listed company. It is a parent company of a Hong Kong-based main contractor, Shun Shing Construction & Engineering (or in short, {{ill|Shun Shing Construction|zh|順成建築}}; {{zh|t=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.{{cite news|url=https://www.scmp.com/article/80725/shun-shing-wins-319m-project-singapore|title=Shun Shing wins $319m project in Singapore|date=11 July 1994|accessdate=14 December 2020|author1=Joon San |author2=Wong Joon San|newspaper=South China Morning Post|location=Hong Kong|url-access=limited}}

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.{{cite news|url=https://hk.appledaily.com/finance/20051030/TWSGEU5XGGFM52X2WMNOCW6HDA/|script-title=zh:中遠國際核數事件 公會入稟重組紀委會|date=30 October 2005|accessdate=14 December 2020|newspaper=Apple Daily|location=Hong Kong|language=zh-hk|url-access=limited|archive-date=21 June 2021|archive-url=https://web.archive.org/web/20210621165934/https://hk.appledaily.com/finance/20051030/TWSGEU5XGGFM52X2WMNOCW6HDA/|url-status=dead}} 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).{{cite book|script-title=zh:香港中資財團|page=464|publisher=Joint Publishing |location=Hong Kong|author=Guo Guocan|date=October 2009|language=zh-hant}} After the acquisition, the listed company, known as COSCO International at that time, engaged in real estate, civil construction and provides services for ship. It also sold paints to shipping companies{{cite news|url=http://the-sun.on.cc/channels/fina/20050923/20050923012422_0002.html|script-title=zh:中遠國際賺3.7億升7.5倍|date=23 September 2005|accessdate=14 December 2020|newspaper=The Sun|publisher=Oriental Press Group|language=zh-hk}} as well as a provider of marine insurance.{{cite news|url=https://hk.appledaily.com/finance/20170829/HLWBSELBV5B4CWBSU67CLUNP4Y/|script-title=zh:中遠海運國際料下半年表現更好|date=29 August 2017|accessdate=14 December 2020|newspaper=Apple Daily|location=Hong Kong|language=zh-hk|url-access=limited|archive-date=21 June 2021|archive-url=https://web.archive.org/web/20210621184933/https://hk.appledaily.com/finance/20170829/HLWBSELBV5B4CWBSU67CLUNP4Y/|url-status=dead}}

In 2001, COSCO International was the developer of Broadview Court, a public housing estates in Wong Chuk Hang (Private Sector Participation Scheme).{{cite press release|url=https://www.housingauthority.gov.hk/en/aboutus/news/pressreleases/0,,2-0-4313-,00.html|archiveurl=https://web.archive.org/web/20030507200508/https://www.housingauthority.gov.hk/en/aboutus/news/pressreleases/0,,2-0-4313-,00.html|date=2 January 2001|title=Sea-view HOS Flats on Offer|accessdate=14 December 2020|archivedate=7 May 2003|publisher=Hong Kong Housing Authority }} 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.{{cite news|url=https://hk.appledaily.com/finance/20050531/GFGMHFLRLN4QNMRQBYIFP35AAE/|script-title=zh:中遠國際14億售寫字樓|date=31 May 2005|accessdate=14 December 2020|newspaper=Apple Daily|location=Hong Kong|language=zh-hk|url-access=limited|archive-date=21 June 2021|archive-url=https://web.archive.org/web/20210621164548/https://hk.appledaily.com/finance/20050531/GFGMHFLRLN4QNMRQBYIFP35AAE/|url-status=dead}} In February 2007, the listed company sold its former main business, Shun Shing Construction, to the parent company.{{cite report|url=http://hk.coscoshipping.com/media/1139/ar-2007-final-english-25-4-2008.pdf|title=2007 Annual Report|date=2008|accessdate=14 December 2020|publisher=COSCO International|page=9 }}

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.{{cite news|url=https://hk.appledaily.com/finance/20100817/4DIFXFZ5K636HNIKJ7BSM5U7GI/|script-title=zh:中遠國際將悉售遠地 擬1年內執行 料獲利6.6億|date=17 August 2010|accessdate=14 December 2020|newspaper=Apple Daily|location=Hong Kong|language=zh-hk|url-access=limited|archive-date=21 June 2021|archive-url=https://web.archive.org/web/20210621191402/https://hk.appledaily.com/finance/20100817/4DIFXFZ5K636HNIKJ7BSM5U7GI/|url-status=dead}}

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..{{cite news|url=http://www.aastocks.com/en/stocks/news/aafn-con/NOW.761037/latest-news|title=COSCO INTL HOLD Proposes to Be Renamed into 'COSCO SHIPPING International (Hong Kong)'|date=4 October 2016|accessdate=14 December 2020|website=aastocks.com}}

In 2018, the company acquired a manufacturer of marine paint as part of a vertical integration strategy of the company.{{cite news|url=https://www.hkcd.com/content/2018-06/27/content_1093910.html|script-title=zh:中遠海運國際邁開收購腳步|date=27 June 2018|accessdate=14 December 2020|newspaper=Hong Kong Commercial Daily|language=zh-hk|author=蘇尚}}

COSCO Shipping International (Hong Kong) is a listed company. As of November 2020, the market capitalization is HK$4 billion (Not yet free-float adjusted).

{{as of|2019|12|31}}, 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).{{cite report|chapter-url=http://www.coscointl.com/media/1957/2019-ar-full-en.pdf|title=2019 Annual Report|chapter=Directors' Report|date=2020|accessdate=14 December 2020|publisher=COSCO Shipping International (Hong Kong)|page=122}} 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),{{cite report|chapter-url=http://cosco.listedcompany.com/newsroom/20200413_172719_F83_AMF0BWD22J4I56EU.1.pdf|chapter=Shareholding Statistics|date=2020|title=Annual Report 2019|accessdate=14 December 2020|publisher=COSCO Shipping International (Singapore)}} are sister companies of COSCO Shipping International (Hong Kong). None of them are shareholders/subsidiaries of COSCO Shipping International (Hong Kong).

COSCO Shipping International (Singapore) privatized fellow listed company Cogent Holdings in 2017,{{cite news|url=https://beltandroad.zaobao.com/beltandroad/news/story20171104-808320|script-title=zh:中远海运国际每股1.02元 收购高昇控股全数股权|date=4 November 2017|accessdate=14 December 2020|newspaper=Lianhe Zaobao|language=zh-sg|author=吕爱丽}}{{cite news|url=https://www.businesstimes.com.sg/companies-markets/cosco-shipping-launches-takeover-of-cogent-holdings|title=Cosco Shipping launches takeover of Cogent Holdings|date=4 November 2017|accessdate=14 December 2020|newspaper=The Business Times|location=Singapore}}{{cite report|chapter-url=http://cosco.listedcompany.com/newsroom/20200413_172719_F83_AMF0BWD22J4I56EU.1.pdf|chapter=Corporate Profile|date=2020|title=Annual Report 2019|accessdate=14 December 2020|publisher=COSCO Shipping International (Singapore)|page=2}} but not COSCO Shipping International (HK).

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• {{official website}}

{{Shipping companies of China}}

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Category:Companies listed on the Hong Kong Stock Exchange

Category:Shipping companies of Hong Kong

Category:land developers of Hong Kong

Category:COSCO Shipping

Category:Offshore companies of Bermuda