China International Marine Containers (02039): BWO intends to lease the "Huaye Long" and "Huashang Long" two lifting living platforms to Hai Long 16 Company and Hai Long 17 Company.

China International Marine Containers (02039) announced that on September 9, 2025, during the 9th meeting of the 11th Board of Directors, the company's wholly-owned subsidiary BWO proposed to lease the "Huaye Long" and "Huashang Long" two semi-submersible lifting living platforms to the indirect wholly-owned subsidiaries of China Merchants Industry, Hai Long Sixteen and Hai Long Seventeen, and signed the "Light Lease Contract" respectively. The financial and asset management business segment of this group operates various marine vessel assets. The semi-submersible lifting living platform involved in this transaction is an important sub-type of offshore support platforms in the marine vessel industry, with dual attributes of living support and project assistance. Its core value lies in addressing industry pain points such as shortage of accommodation resources for fixed offshore facilities and inconvenient transportation connections in deep-sea areas, mainly providing accommodation, living support, and operational support services for offshore engineering projects (such as oil and gas development, wind power construction, etc.). Currently, the international oil and gas market is showing a sustained recovery trend, with a new wave of development globally. The increased development efforts in traditional oil and gas production areas such as Brazil, the North Sea, West Africa, Southeast Asia, and the Gulf of Mexico have directly driven the market demand growth for semi-submersible lifting living platforms and other marine vessels. In this context, Brazil has issued a leasing demand for 5 living platforms in 2025. As of now, the company owns 2 idle living platforms. However, considering adaptability and economic factors, the platforms subject to this transaction have more significant advantages, and can bring higher returns to the group. In this transaction, BWO signed a "Light Lease Contract" with Hai Long Sixteen and Hai Long Seventeen, subsidiaries of China Merchants Industry, to lease the subject platforms. Through years of project practice, BWO has formed unique advantages in specialized operation and management in ultra-deepwater fields, combined with the adaptability of the subject platforms to the Brazil project, BWO and China Merchants Industry complement each other's strengths through this cooperation, and the group can also gain corresponding benefits through this cooperation. BWO will provide the subject platforms to Brazil in the future, and at the same time provide platform operation and management services for Brazil. Therefore, this transaction also deepens the strategic cooperation relationship between the group and Brazil.