China COSCO Shipping Energy Transportation Co., Ltd.: Intends to use up to RMB 7 billion of idled funds for cash management.

China COSCO Shipping Corporation announced that it has received 7.98 billion yuan from the issuance of A-shares to specific investors in 2025. After deducting issuing expenses, the net amount of 7.98 billion yuan will be used for investment in projects such as ship construction. Due to the project construction period, the raised funds are currently idle in the short term. The board of directors approved on December 26, 2025, to use up to 7 billion yuan of idle funds for cash management, with a maturity period of 12 months, to invest in safe and liquid products, and not to be used for pledging. This matter has gone through necessary procedures, does not affect the investment projects, and the sponsor has no objections.