On July 23, COSCO SHIPPING Holdings Co., Ltd. (hereinafter referred to as "COSCO SHIPPING Holdings") issued an announcement stating that the Company's Board of Directors had received a resignation letter from Mr. Qian Ming. Due to a change in work assignment, Mr. Qian voluntarily resigned from his positions as Deputy General Manager and General Counsel of the Company.

COSCO SHIPPING Holdings stated that after his resignation, Mr. Qian will continue to serve as a director or in other management positions in the Company's holding subsidiaries.

Biography of Qian Ming:

Mr. Qian Ming graduated from Dalian Maritime University with a major in International Maritime Affairs and holds a Bachelor of Laws. He began his career in 1998 and has held the following positions successively: Business Representative and Deputy Chief Representative of China Shipping (Colombo) Representative Office; General Manager of China Shipping (Indonesia) Shipping Co., Ltd.; Assistant General Manager of Marketing Department I, Deputy General Manager of Asia-Pacific Department (and later acting General Manager of the said department) at China Shipping Container Lines Co., Ltd.; General Manager of Asia-Pacific Operations Department of China Shipping Container Lines Co., Ltd.; General Manager of Latin America/Africa Trade Zone at COSCO SHIPPING Lines Co., Ltd.; General Manager of Tianjin COSCO SHIPPING Container Lines Co., Ltd.; and Deputy General Manager and General Counsel of COSCO SHIPPING Holdings Co., Ltd.