On January 22, 2026, the seller, a direct wholly-owned subsidiary of the Company, entered into a sale agreement with the buyer. The seller agreed to sell the vessel, TS SHENZHEN, a container ship, to the buyer for a consideration of US$23 million, equivalent to approximately HK$179.4 million. The Board believes that the Group will realize immediate financial benefits from the sale.

Furthermore, the sale will assist the Group in reducing costs associated with vessel ownership, including but not limited to crew, insurance, and maintenance expenses. It also helps optimize the fleet size without compromising its ability to meet future chartering needs and raises additional capital for the Group's capital expenditures, investments, and other strategic business initiatives.

On January 22, 2026, TS Singapore, a direct wholly-owned subsidiary of the Company, the seller, and the buyer entered into a charter agreement for the vessel. The lease term runs from January 24, 2026, to March 31, 2026.

Historically, TS Singapore had been leasing the vessel from the seller under various charter agreements, including the original charter agreement, since January 2025. This arrangement enabled the Group to adapt to market demand fluctuations across different trade routes and to operate those routes with vessels of appropriate capacity.

In January 2026, the vessel was sold by the seller to the buyer. The Company considers it beneficial for TS Singapore to maintain this chartering arrangement for transitional purposes, as it helps avoid disruption to its normal business operations during the short remaining term of the charter agreement.