Reference is made to the announcement of Jinhui Shipping and Transportation
Limited (the 'Company') dated 2 December 2025 (the 'Announcement'). Unless
otherwise defined, capitalized terms used herein shall have the same meanings as
defined in the Announcement.
As disclosed in the Announcement, the Vendor, Jinbi Marine Inc., a wholly-owned
subsidiary of the Company, entered into the Agreement with the Purchaser on 2
December 2025 in respect of the disposal of the Vessel at a consideration of
US$14,400,000.
The Agreement was cancelled on 23 January 2026 as one of the clauses with
regards to a timely delivery of the Agreement cannot be fulfilled. The initial
deposit of US$1,440,000 lodged with the escrow agent will be refunded to the
Purchaser in accordance with the terms of the Agreement. The Directors consider
that the cancellation of the Disposal of the Vessel would not have any material
adverse effect on the financial position and operations of the Group.
The principal activity of the Company is investment holding, and its
subsidiaries are principally engaged in international ship chartering and ship
owning.
The announcement is also available on the website of the Company at
http://www.jinhuiship.com.
For details, please see attachment on http://www.newsweb.no.