JINHUI HOLDINGS (00137) Subsidiary plans to sell a ultra-large handy-type vessel.

JINHUI HOLDINGS (00137) announced that the seller Jinsui Marine Inc., an indirect subsidiary in which the company holds approximately 55.69% equity, entered into an agreement with the buyer Hong Kong Hengsheng Shipping Co., Ltd. on November 24, 2025 (after trading hours) to sell the vessel for a price of US$10.3 million (approximately HK$80.34 million). The vessel will be delivered from the seller to the buyer between December 1, 2025 and February 28, 2026. The vessel is a supermax bulk carrier with a carrying capacity of 56,968 metric tons, built in 2008 and registered in Hong Kong. The main business of the group is international ship leasing and ship ownership. The directors have been closely monitoring the current market conditions in the shipping industry and adjusting the group's fleet composition as needed. The sale of the vessel aligns with the group's strategy to maintain a balanced fleet composition to optimize its fleet and reduce operational risks in the current volatile market. The group expects to enhance its operating cash position and further strengthen its working capital and overall financial position through the sale of the vessel. The group operates a balanced and diversified fleet of bulk carriers, including Capesize, Panamax, Supramax, and supermax bulk carriers. To maintain market competitiveness, the group focuses on improving the quality of its fleet and adjusting its fleet composition, particularly by reducing the overall age profile of its fleet. The group is prepared to seize opportunities to reallocate capital to other more suitable assets while maintaining a comfortable level of borrowing. In the future, the group will continue to monitor the market and its future operations, seeking opportunities to maintain a modern and competitive fleet. This may include selling older vessels and replacing them with newer or leased vessels. Such decisions will be made on a temporary basis to maintain a high degree of financial flexibility and operational competitiveness. Currently, the group operates a fleet of 26 vessels, including 20 owned vessels (including the vessel in question) and 6 leased vessels, with a total carrying capacity of approximately 2 million metric tons. Two of the owned vessels have been arranged for sale and leaseback agreements, and one has been sold and reclassified as a held-for-sale asset.