Core Viewpoint - The "Huaye Long" semi-submersible lifting platform, developed and manufactured in China, has successfully completed customs clearance and is set to operate in Brazil, reflecting the growing demand for marine engineering equipment in the oil and gas sector due to the recovery of international oil and gas markets [1] Group 1: Company Operations - The "Huaye Long" platform has a lifting capacity of 4,400 tons and can accommodate 750 personnel, making it a highly advanced mobile factory for offshore operations [1] - The platform is designed for multiple functions, including seabed structure removal, oil and gas production assistance, and wind power installation, showcasing its versatility in the marine engineering sector [1] Group 2: Market Demand - The demand for semi-submersible lifting platforms and other marine engineering equipment is increasing as development efforts intensify in oil and gas regions such as Brazil, the North Sea, West Africa, and Southeast Asia [1] - The collaboration with Brazil's national oil company for leasing opportunities indicates a strategic move to capitalize on the growing market [1] Group 3: Customs and Regulatory Support - Shenzhen Customs facilitated the rapid customs clearance process, allowing the "Huaye Long" platform to complete all exit procedures in less than two days, which is crucial for reducing operational costs [1] - The company estimates that saving one day in the clearance process can save approximately 500,000 yuan in rental and fuel costs [1] - Shenzhen Customs plans to continue supporting enterprises by utilizing policies such as "direct installation upon arrival," "off-site supervision," and "smart telecommunication quarantine" to enhance operational efficiency [1]

Group 1 - The company held its 9th meeting of the 11th Board of Directors on September 9, 2025, where all nine directors attended and the meeting complied with relevant laws and regulations [2][3][6] - The Board approved a related party transaction involving the leasing of two semi-submersible accommodation platforms, "Hua Ye Long" and "Hua Shang Long," from subsidiaries of China Merchants Industry Holdings [3][8][21] - The transaction requires shareholder approval as it exceeds 5% of the company's latest audited net assets [10][21] Group 2 - The leasing agreement involves the subsidiary BLUEWHALE OFFSHORE PTE. LTD. (BWO) and two subsidiaries of China Merchants Industry, with a rental rate of $50,000 per day for each platform [17][20] - The total rental amount for the two platforms is approximately $140 million, based on the agreed daily rate [20] - The transaction is expected to enhance the company's operational capabilities in the offshore engineering sector, particularly in the context of increasing demand in the oil and gas market [21][22] Group 3 - The platforms are crucial for providing accommodation and operational support for offshore projects, addressing industry challenges such as accommodation shortages and transportation difficulties in deep-sea areas [21] - The company has identified a strategic partnership with Petrobras, as the platforms will be utilized for their projects, thereby strengthening the relationship [21][22] - The company has previously engaged in related party transactions with China Merchants Group, totaling approximately RMB 609.8 million in the first half of 2025 [23]