Core Viewpoint - Ningbo Ocean has made significant progress in establishing an overseas company and investing in the construction of four 2700TEU container ships, aligning with its strategic development needs [2][3]. Group 1: Company Performance - As of October 24, 2025, Ningbo Ocean's stock closed at 10.5 yuan, a 0.48% increase from the previous week's 10.45 yuan [1]. - The company's total market capitalization is 13.741 billion yuan, ranking 22nd out of 34 in the shipping and port sector and 1385th out of 5160 in the A-share market [1]. Group 2: Investment and Construction Details - The total investment for the overseas project is 1.194 billion yuan, with the establishment of Ningbo Ocean (Singapore) Navigation Co., Ltd. completed [2][3]. - Contracts for the construction of four container ships have been signed with a total contract value of 1.184 billion yuan, with each ship costing 296 million yuan in cross-border RMB [2][3]. - The delivery date for the ships is set for on or before April 30, 2028, and the investment will be phased for shipbuilding and overseas operations [2][3].

Investment Overview - The company plans to invest up to 1.4 billion RMB to build four 2700 TEU container ships to optimize fleet structure and enhance service capabilities [1][2] - The investment will be executed through a wholly-owned subsidiary in Singapore, with a total investment amount of approximately 1.194 billion RMB for the project [1][2] Investment Progress - As of the announcement date, the company has obtained necessary certificates for overseas investment and completed registration for the Singapore subsidiary [2] - Contracts for the construction of the four container ships have been signed with two shipbuilding companies, with a total contract value of 1.184 billion RMB [2][10] Company Information - The newly established Singapore subsidiary is named Ningbo Ocean Shipping (Singapore) Longitude Pte. Ltd., with a registered capital of 5 million SGD [3][4] - The subsidiary will focus on shipping operations, including ship chartering and management services [5] Contractual Details - Each shipbuilding contract is valued at 296 million RMB, with fixed pricing that does not fluctuate with market prices [11] - The delivery of the ships is scheduled to be completed by April 30, 2028, with specific payment terms outlined across multiple stages [11][15] Strategic Impact - This investment aligns with the company's strategic goals and is expected to strengthen its core competitiveness in the shipping industry [16] - The company will monitor various external factors that may impact the investment's progress and outcomes [16]

Core Viewpoint - Ningbo Ocean Shipping Co., Ltd. is advancing its strategy by investing in the construction of four 2700 TEU container ships and establishing a wholly-owned subsidiary in Singapore to manage this project [2][3][19]. Group 1: Investment in Container Ships - The company plans to invest up to 1.4 billion RMB to build four 2700 TEU container ships, aiming to optimize its fleet structure and enhance service capabilities [2]. - The investment for the construction of the ships is authorized to be managed by the company's operational management team through market research and competitive bidding [2]. Group 2: Establishment of Overseas Company - The company has approved the establishment of Ningbo Ocean (Singapore) Longitude Pte. Ltd. in Singapore, with an investment of approximately 1.194 billion RMB, to oversee the construction and operation of the new container ships [3][4]. - The overseas company has completed the necessary registration procedures in Singapore and has received the required investment certificates from local authorities [4]. Group 3: Contractual Agreements - Contracts have been signed with China Shipbuilding Huangpu Wenchong Shipbuilding Co., Ltd. and China Shipbuilding Industry Trade Co., Ltd. for the construction of the four container ships, with a total contract value of approximately 1.184 billion RMB [4][12]. - Each ship's construction contract is fixed at 296 million RMB, with specific payment terms outlined for different stages of the construction process [13][15]. Group 4: Company Structure and Operations - Ningbo Ocean (Singapore) Longitude Pte. Ltd. is a private limited company with a registered capital of 5 million SGD, focusing on shipping and ship management services [5][7]. - The company is wholly owned by Ningbo Ocean (Singapore) Co., Ltd., which will manage the investment and operational activities related to the new container ships [8].

Group 1 - The company is holding its first extraordinary general meeting of shareholders in 2025 to ensure shareholders can exercise their rights and maintain order during the meeting [1][2] - Shareholders must present identification and authorization documents to attend the meeting, and late arrivals will not have their votes counted unless approved by the meeting's working group [1][2] - The voting will be conducted through a combination of on-site and online methods, with specific time slots for online voting on July 7, 2025 [2][4] Group 2 - The meeting will discuss two main proposals: the investment in building four 4300TEU container ships and the election of non-independent directors for the second board [4][6] - The proposed investment for the construction of the container ships is capped at 2 billion RMB, aimed at optimizing the fleet structure and enhancing service capabilities [4][5] - The election of non-independent directors will be conducted using a cumulative voting system, allowing shareholders to allocate their votes among candidates [3][7] Group 3 - The company has nominated Wang Ke and Cai Yuxia as candidates for non-independent directors, with their terms starting upon approval at the general meeting [7][8] - Wang Ke has extensive experience in port operations and management, while Cai Yuxia holds multiple roles within the company, including compliance and legal advisory [8][9] - Both candidates do not hold shares in the company and have not faced any regulatory penalties, making them eligible for the board positions [8][9]

Investment Overview - Ningbo Ocean Transportation Co., Ltd. plans to invest up to 2 billion RMB to build 4 container ships with a capacity of 4300 TEU [1] - The investment will be determined through a bidding process, and it is currently unclear if it constitutes a related party transaction [1] - This investment does not qualify as a major asset restructuring [1] - The total investment in container ships over the past 12 months exceeds 50% of the company's latest audited net assets, requiring approval from the shareholders' meeting [1] Impact on Company - The investment aims to optimize the company's fleet structure, expand fleet size, and enhance service capabilities, thereby improving market competitiveness [2] - The decision has been carefully evaluated and aligns with the company's strategic development plan, with no significant adverse effects on financial status or ongoing operations [2] Risk Analysis - The company acknowledges potential uncertainties in future operations, including macroeconomic conditions, geopolitical factors, industry policies, and market environments [3] - The company will monitor these factors closely and adjust risk management strategies accordingly to ensure sustainable development [3]