JINHUI HOLDINGS' subsidiary plans to acquire three vessels for a total price of USD 99.15 million

According to the announcement from JINHUI HOLDINGS (00137), the first buyer, second buyer, and third buyer of an indirect subsidiary, each holding approximately 55.69% equity in the company, have entered into the first shipbuilding contract, second shipbuilding contract, and third shipbuilding contract with the seller on September 30, 2025, respectively. Under the terms of these shipbuilding contracts, the seller agrees to build and sell the first ship, second ship, and third ship to the first buyer, second buyer, and third buyer at a contract price of USD 33.05 million per vessel. The total contract price for the first ship, second ship, and third ship is USD 99.15 million. The first ship, second ship, and third ship are scheduled to be delivered to the first buyer, second buyer, and third buyer on or before January 31, 2028, February 29, 2028, and March 31, 2028, respectively.

The announcement states that upon completion of the acquisition of the first ship, second ship, and third ship, these vessels will be leased to third parties for the transportation of bulk dry cargo, generating charter rental income and providing the group with recurring freight and charter rental revenue. The board believes that this is the best opportunity to further expand the fleet size to increase the group's operating income. The group currently operates 29 vessels, including 21 owned vessels and eight leased vessels, with a total carrying capacity of approximately 2.2 million metric tons. Among the owned vessels, two have been arranged under sale and leaseback agreements, and one has been sold and reclassified as an asset held for sale