On August 5th, 2024, Xin Yuan Ent (01748.HK) announced that the buyer (a wholly-owned subsidiary of the company) had entered into a shipbuilding contract with the seller. Accordingly, the seller agreed to build two ships for the buyer, with a price of 21 million dollars per ship and a total price of 42 million dollars.

The two ships are chemical/asphalt ships with a carrying capacity of 9,550 tons each. The first ship is expected to be delivered to the Group on or before December 31, 2025, and the second ship is expected to be delivered to the Group on or before March 31, 2026. Delivery may be advanced or postponed according to the shipbuilding contract terms.

Acquiring these two ships under the shipbuilding contract will help the Group optimize its fleet and enhance its transportation scale, which is in line with the Group's strategy of providing high-quality chartering services and further expanding its influence in the asphalt ship chartering market, as well as enhancing its overall competitiveness.