JINHUI HOLDINGS (00137) subsidiary plans to acquire two vessels.

JINHUI HOLDINGS (00137) announced that its indirect subsidiary companies Jinshun Shipping Inc. and Jintong Marine Inc., each owning approximately 55.69% equity of the company, entered into the first shipbuilding contract and the second shipbuilding contract with the seller (Jiangmen Nanyang Ship Engineering Co., Ltd) on June 3, 2026. According to the terms of these shipbuilding contracts, the seller agreed to build and sell the first ship and the second ship to the first buyer and the second buyer respectively at a contract price of $34.15 million each, making the total contract price for both ships $68.30 million. The ships will be delivered to the first buyer and the second buyer by December 31, 2030. Upon completion of the acquisition of the first ship and the second ship, these ships will be leased to third parties for the transportation of bulk dry goods, generating ship rental income and regular freight and ship rental income for the group. The directors believe that this is the best opportunity to further expand the fleet size and increase the group's operating income. The group currently operates twenty-one vessels, including eighteen owned vessels and three leased vessels, with a total carrying capacity of approximately 1.7 million metric tons. Two of the owned vessels have been arranged under sale and leaseback agreements, and two have been sold and reclassified as held for sale assets.