Haitong Development: Wholly-owned subsidiary plans to invest 1.2 billion yuan to build four multi-purpose heavy lift vessels.

Haitong Development announced that on April 22, 2026, the 39th meeting of the fourth board of directors approved a proposal to allow its fully-owned subsidiary, Haitong International, to invest up to 1.2 billion yuan to build four 62,000 DWT multi-purpose heavy lift ships, and to sign a contract with Taizhou Port Ship Co., Ltd. This matter falls within the authority of the board of directors and does not require approval from the shareholders' meeting, and does not constitute a related party transaction or major asset restructuring. However, there is a risk that the project may not be completed on schedule due to the long construction period of the ships.