Jinhui Holdings Company Limited (stock code: 137) has entered into two separate shipbuilding contracts on 11 February 2026 through its indirect subsidiaries Jinlang Marine Inc. and Jinyu Marine Inc., both wholly owned by Jinhui Shipping and Transportation Limited. Each contract involves purchasing a newly built 64,100-metric-tonne bulk carrier from Sumec Marine Co., Ltd. and New Dayang Shipbuilding Co., Ltd. for US$34 million, bringing the total transaction to US$68 million (approximately HK$530.4 million).

Under the agreements, each vessel’s price may be reduced by up to approximately 5% if final delivery or performance specifications do not meet contract terms. Delivery of the first vessel is expected on or before 15 May 2029, and the second vessel on or before 31 July 2029. Payment will be made in five installments for each vessel, with plans for about half of the total contract cost to be supported by bank financing and the remainder from internal resources.

The acquisition constitutes a very substantial acquisition under the Listing Rules and is subject to reporting, announcement, shareholders’ approval, and circular requirements. A general meeting will be convened for approval, and a circular containing additional details is anticipated to be dispatched to shareholders on or before 9 March 2026.

According to Jinhui Holdings, these new vessels align with the group’s ongoing strategy to renew its fleet with modern, energy-efficient, and regulation-compliant designs. Upon completion, both vessels will be chartered out to third parties, generating charter hire and freight income for the group.