On April 27, Cosco Shipping Energy released several announcements.

The company disclosed that its wholly-owned subsidiary, Dalian Haineng, plans to sign an equity acquisition agreement with Cosco Shipping to acquire 100% of the equity in Dalian Investment held by the parent company. The transaction price is approximately $223.2 million. Upon completion of this transaction, Dalian Haineng will absorb and merge with Dalian Investment, and the "Entrusted Management Agreement" signed by the company, Cosco Shipping, and Dalian Investment in November 2024 will be terminated.

This transaction is a key step for the company to integrate the energy and chemical logistics supply chain of the Cosco Shipping. It will help the company achieve unified operation and development of its LPG and hydrogen-based green energy transportation businesses, thereby improving resource allocation efficiency and market competitiveness.

After the transaction, Dalian Investment will be included in the company's consolidated financial statements. It has no external guarantees, entrusted wealth management, or other related situations. Dalian Haineng will further implement the absorption and merger of Dalian Investment. The injection of high-quality assets and businesses, such as the VLGCs (Very Large Gas Carriers) under construction and the storage and logistics park, will further consolidate the company's diversified business structure of oil, gas, chemicals, and storage, enhancing its overall profitability and asset integrity.

On the same day, Cosco Shipping Energy also released its first-quarter performance report for 2026. During the reporting period, the company achieved operating revenue of approximately $1.03 billion, a year-on-year increase of 26.9%. The net profit attributable to shareholders of the listed company was approximately $306.1 million, a year-on-year increase of 206.7%. The basic earnings per share was $0.3977, a year-on-year increase of 167.8%.

In the first quarter of 2026, Cosco Shipping Energy's tanker sector achieved operating revenue of $898.5 million, a year-on-year increase of 28.3%. Operating costs were about $519.3 million, a year-on-year decrease of 10.1%. The gross profit margin was 42.2%, an increase of 24.7 percentage points year-on-year. Among them, the foreign trade oil transportation business achieved a gross profit of $315.6 million, a year-on-year increase of 317.6%; the domestic trade oil transportation business achieved a gross profit of $63.4 million, a year-on-year increase of 34.9%.