Gelonghui October 22, Xingmin Intelligent Transportation Systems (002355.SZ) announced that its subsidiary, Anhui Xingmin Hai Zhi Equity Investment Co., Ltd. (referred to as Xingmin Haizhi), Anhui Xinyangfan Shipbuilding Co., Ltd. (referred to as Xinyangfan), and Wuhu Shipyard Co., Ltd. (referred to as Wuhu Shipyard) signed a cooperation agreement. According to the aforementioned cooperation agreement, the parties will accumulate a total of 37 different types of ships' business cooperation including 8 89K bulk carriers, 1 7000 PCTC (autos roll-on/roll-off transportation ship), 1 14600 heavy lift ship, 6 38K stainless steel chemical ships, 4 49K oil chemical ships, 7 50K oil chemical ships, and 10 27650 DWT multipurpose ships between 2025 and 2029. In 2025, a total of $424 million worth of business cooperation will be conducted, including 8 89K bulk carriers and 1 7000 PCTC autos roll-on/roll-off transportation ship.

Shipbuilding Cooperation: Wuhu Shipyard agrees to entrust Xingmin Haizhi and Xinyangfan with some of the shipbuilding orders it has undertaken or will undertake in the future. The entrusted methods of the orders include but are not limited to subcontracting, joint manufacturing, joint seller cooperation, etc., with prices subject to market conditions. Shipbuilding and material procurement cooperation: Wuhu Shipyard entrusts Xingmin Haizhi and Xinyangfan with shipbuilding business, and the materials needed for construction can be purchased by Xingmin Haizhi and Xinyangfan, limited to steel, profiles, pipes, welding materials, cables, and paint. Wuhu Shipyard will gradually open up material procurement categories to Xingmin Haizhi and Xinyangfan based on the tripartite cooperation, including main engines and other shipboard equipment facilities. The specific shipbuilding business and ship material business entrusted by Wuhu Shipyard will be subject to relevant contracts signed by the three parties.