On the Road with Goldman Sachs – Asia Pacific: China Shipbuilding Trip

Research evidence excerpt

On the Road with Goldman Sachs – Asia Pacific: China Shipbuilding Trip

g access to detailed financial statement histories, forecasts and ratios. It can be used for

in-depth analysis of a single company, or to make comparisons between companies in different sectors and markets.

Disclosures

The rating(s) for COSCO SHIPPING Holdings (A) and COSCO SHIPPING Holdings (H) is/are relative to the other companies in its/their coverage

universe: Air China (A), Air China (H), COSCO SHIPPING Holdings (A), COSCO SHIPPING Holdings (H), COSCO Shipping Energy (A), COSCO Shipping

Energy (H), COSCO Shipping Ports Ltd., China Eastern Airlines (A), China Eastern Airlines (H), China Merchants Port Holdings, China Southern Airlines (A),

China Southern Airlines (H), Eastern Air Logistics, Guangdong Songfa Ceramics Co, Guangzhou Baiyun Intl Airport Co., Hainan Meilan Intl Airport,

Hutchison Port Holdings, Shanghai International Port, Shanghai Intl Airport, Spring Airlines Co., Yangzijiang Shipbuilding

Company-specific regulatory disclosures

The following disclosures relate to relationships between The Goldman Sachs Group, Inc. (with its affiliates, “Goldman Sachs”) and companies covered

by Goldman Sachs Global Investment Research and referred to in this research.

Goldman Sachs had a non-securities services client relationship during the past 12 months with: COSCO SHIPPING Holdings (A) (Rmb14.24) and COSCO

SHIPPING Holdings (H) (HK$14.16)

Goldman Sachs makes a market in the securities or derivatives thereof: COSCO SHIPPING Holdings (A) (Rmb14.24) and COSCO SHIPPING Holdings (H)

(HK$14.16)

There are no company-specific disclosures for: Dajin Heavy Industry (Rmb60.20)

Distribution of ratings/investment banking relationships

Goldman Sachs Investment Research global Equity coverage universe