On June 25th, Gelunhui announced that on June 25th, 2024, the lessee (a company's indirectly wholly-owned subsidiary), the company, and the owner entered into a financing lease arrangement. Accordingly, (i) the lessee agreed to transfer the rights and obligations of the acquired ships under the shipbuilding contract to the owner according to the replacement agreement; (ii) the owner agreed to lease the ship to the lessee according to the bareboat charter; and (iii) the company entered into a guarantee agreement with the owner as the beneficiary.