FUJIAN HIGHTON DEVELOPMENT CO., LTD

Fujian Haitong Development Co., Ltd. (hereinafter referred to as "Haitong Development" or the "Company") was established in March 2009 and has since been dedicated to domestic coastal and international ocean dry bulk transportation. Over years of accumulation, the Company has grown into one of the leading privately-owned enterprises in China's dry bulk shipping sector with strong market competitiveness. On March 29, 2023, Haitong Development was listed on the Shanghai Stock Exchange under the stock abbreviation "Haitong Development" and stock code "603162."

In domestic coastal shipping, the Company primarily transports coal and has become one of the leading private shipping enterprises on the routes from the Bohai Bay Rim to the Yangtze River ports. It is also actively expanding its transportation services for other dry bulk cargoes such as minerals and slag. In international ocean shipping, the Company operates routes covering more than 300 ports across over 80 countries and regions, providing maritime transport services for a wide range of goods including minerals, coal, grains, fertilizers, and breakbulk cargo.

Since 2024, the Company has been continuously diversifying its fleet structure by actively expanding into full-range bulk carriers. It has newly purchased and operated Panamax and Capesize bulk carriers, and acquired heavy-lift multipurpose vessels to enter the high-end equipment and major project breakbulk shipping segment. In the first half of 2025, the Company added 12 vessels through new purchases and bareboat chartering. By the end of June 2025, eight of these vessels had been delivered. Upon full delivery, the Company will operate 14 long-term chartered dry bulk vessels (with charter periods of one year or more), 58 self-operated dry bulk vessels, one heavy-lift multipurpose vessel, and three oil tankers, bringing its total controlled dry bulk shipping capacity to 4.84 million deadweight tons (DWT). This places the Company among the top enterprises in China's dry bulk shipping industry in terms of fleet capacity.

With a strong focus on the dry bulk shipping industry, the Company upholds its corporate mission of "Committing to the Ocean, Excelling and Strengthening China's Shipping Industry" and embodies the spirit of "Oceanic Mindset, Determined to Achieve." It has established core values of "Dedication and Accountability, Collaboration and Win-Win, Innovation and Efficiency," emphasizing both standardization and refinement, as well as safety and efficiency. By actively integrating into customers' value chains and striving to create value for them, the Company is making relentless efforts to realize its vision of "Becoming a World-Class Shipping Brand."