On August 14, Ningbo Ocean Shipping Co., Ltd. (hereinafter referred to as "Ningbo Ocean" or "the Company") announced that its four wholly-owned subsidiaries have officially signed shipbuilding contracts with Wuchang Shipbuilding Industry Group Co., Ltd. and China Shipbuilding Trading Co., Ltd. for four 1,900 TEU container vessels.

The four vessels under this contract are firm orders, with a unit price of RMB 208 million on a cross-border RMB basis, totaling RMB 832 million. The Company also retains an option for two additional vessels (buyer's option), with the right to exercise the option at the agreed price within a specified period. Previously, the Company's board of directors had approved a total investment of no more than RMB 1.7 billion for the construction of "4+2" vessels of this type. The signing of this contract marks the official confirmation of the first four vessels, while the remaining two will be subject to future decisions on whether to exercise the option.

Designed by Shanghai Ship Research and Design Institute, these vessels have an overall length of approximately 171.95 meters and a molded breadth of 27.5 meters. They are precisely tailored to the transport requirements of shallow-water ports and narrow waterways in the Asian region, combining low fuel consumption, high energy efficiency, and strong cargo capacity, and fully meeting the Phase III green energy efficiency standards of EEDI.

From a strategic perspective, this investment represents a prudent decision made by Ningbo Ocean in line with its overall development strategy and business needs. As the largest container liner company in Zhejiang Province and the first "A-share spin-off A-share" listed company in China's port and shipping industry, Ningbo Ocean has grown over seventeen years from a small coastal fleet of only eight aging vessels with routes limited to Japan and South Korea, into a major ocean-going carrier with record-high capacity and a route network covering key ports worldwide. At present, the Company operates about 120 vessels, with total capacity exceeding 1.9 million deadweight tons and total container carrying capacity exceeding 100,000 TEU, ranking first among shipping enterprises in Zhejiang Province, among the top three domestic liner companies in mainland China, and 23rd in the Alphaliner Top 100 global liner rankings.