Jinhui Holdings Company Limited (Stock Code: 137) announced a major transaction involving the disposal of a Supramax vessel through its approximately 55.69% indirect subsidiary, Jinhui Shipping and Transportation Limited.

According to the announcement, Jinmao Marine Inc. (the Vendor) has entered into a memorandum of agreement dated 28 October 2025 with New Unite Marine Co., Ltd. (the Purchaser) for the sale of the bulk carrier “JIN MAO” at a consideration of US$13.2 million (approximately HK$102.96 million). The vessel, with a deadweight of 56,469 metric tonnes and built in 2012, is scheduled for delivery on or before 10 December 2025. The Vendor warrants that the vessel will be delivered free from any charters, encumbrances, or mortgages.

The unaudited net book value of the vessel as of 30 September 2025 was approximately HK$104.44 million. This disposal is expected to result in a book loss of around HK$1.6 million, subject to any final adjustments and actual delivery expenses. Net proceeds from the sale will be applied toward general working capital, with an emphasis on debt repayment and liquidity support.

Jinhui Holdings indicates that the disposal aligns with the strategy of optimizing fleet composition by balancing vessel age and size under current market volatility. The vessel’s sale triggers major transaction requirements under Chapter 14 of the Listing Rules, as one or more percentage ratios exceed 25% but are less than 75%. The company secured written approval for this transaction from a closely allied group of shareholders holding over 50% of voting rights.

A circular with further details on the transaction is expected to be despatched on or before 19 November 2025.