Group 1 - Company COSCO Shipping Development (中远海发) announced the signing of contracts for the construction of 10 bulk carriers, consisting of 6 vessels from Zhoushan Shipyard and 4 vessels from China Shipbuilding Group, with a total contract value of RMB 52.8 billion (excluding tax) [1] - The lease agreement with COSCO Shipping Bulk (中远海运散货) stipulates a lease term of approximately 240 months ± 90 days for each vessel, starting from the delivery date [2] - The expected annual rent for each vessel after delivery, considering dual-fuel power upgrades, is approximately RMB 63.8 million (excluding tax) [2]