JINHUI HOLDINGS (00137) subsidiary plans to sell a super large Handy bulk carrier for USD 14.4 million

JINHUI HOLDINGS (00137) announced that the seller Jinbi Marine Inc., an indirect subsidiary with approximately 55.69% ownership of the company, entered into an agreement with the buyer Hing Yue Investment Limited on December 2, 2025 (after trading hours) to sell the vessel for approximately $14.4 million US dollars (about 1.12 billion Hong Kong dollars). The vessel will be delivered from the seller to the buyer between December 15, 2025, and January 30, 2026. The vessel is a super handy size vessel with a deadweight of 56,361 metric tons, built in 2012 and registered in Hong Kong. The seller guarantees that the vessel will be free from any leases, encumbrances, mortgages, maritime liens, or any other liabilities at the time of delivery. The vessel will be delivered to the buyer without any existing leases. The group's main business is international ship leasing and vessel ownership. The directors have been closely monitoring the current market conditions in the shipping industry and adjusting the group's fleet composition as necessary. The sale of this vessel is in line with the group's strategy of maintaining an optimized fleet by selling vessels and reducing operational risks in the fluctuating market. The group can improve its operating cash position and strengthen its overall financial condition through the sale of this vessel.