Press Release

J.P. Morgan First Capital acted as the Financial Advisor to China COSCO Holdings Co., Ltd. on its disposal of 100% equity interest in COSCO Logistics

J.P. Morgan First Capital acted as the Financial Advisor to China COSCO Holdings Co., Ltd. on its disposal of 100% equity interest in COSCO Logistics.

China COSCO Holdings Co., Ltd. (“China COSCO”, 601919.SH/1919.HK) sold 100% equity interest in its subsidiary COSCO Logistics to its controlling shareholder China Ocean Shipping (Group) Company(“COSCO Group”) with total consideration of RMB 6.74 billion. The transaction has resulted in RMB 1.96 billion one-off gain to China COSCO, improving China COSCO earnings in 2013 and reducing the risk of suspending the A share trading. The proceeds from the transaction could supplement its working capital, enhance its ability to resist operating risk and reduce its financial costs. This transaction was approved at Extraordinary General Meeting on April 26, with over 80% votes from independent shareholders supporting the deal, and was completed by May.

J.P. Morgan First Capital, J.P. Morgan Securities (Asia Pacific) and CICC acted as the joint financial advisors to the Company.

This transaction has marked another milestone transaction successfully executed by JPMFC team for a well-known large-cap state-owned enterprise. It is also the first time that JPMFC has provided services to an A+H dual-listed central state-owned enterprise. The deal was executed with an accelerated timetable, kicking off late February and completing May 2013. JPMFC partnered closely with the J.P. Morgan team in Hong Kong to ensure high-quality seamless execution to the client. The success of this transaction has further enhanced our long-term relationship with China COSCO and has demonstrated our ability in providing integrated capital market services to our client both onshore and offshore by leveraging our shareholder’s resources.