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Cosig proposes name change to China Ocean Industry Group

Cosig proposes name change to China Ocean Industry Group
China Ocean Shipbuilding Industry Group (Cosig) has proposed to change its name to China Ocean Industry Group so as to “better reflect the company’s strategic business plan and future business development.”

Hong Kong-listed Cosig announced that the new name will provide the company with a new corporate image and identity. A special resolution will be proposed at the forthcoming special general meeting of the company to approve the name change.

Cosig pointed out that the change of company name “will not, of itself, affect any rights of the shareholders or the company’s daily business operation and its financial position.”

Late last year, Cosig diversified into the car parking business due to the sluggish shipping industry. The company’s core business has been in the production and operation of shipbuilding, as well as securities trading and providing financial services business.