CIMC subsidiary leases offshore platforms in connected transaction

China International Marine Containers (Group) Co., Ltd. (CIMC) announced on September 9, 2025, that its wholly-owned subsidiary, BLUEWHALE OFFSHORE PTE. LTD. (BWO), will lease the "Huayelong" and "Huashanglong" crane and accommodation platforms. These platforms are from Hailong No. 16 Co. and Hailong No. 17 Co., indirect wholly-owned subsidiaries of China Merchants Industry, a substantial shareholder of CIMC, making the transactions connected. Each platform will incur a charter hire of $50,000 per day, totaling approximately $140m over the four-year charter term.

The Bareboat Charter Agreements are effective upon execution, delivery of the platforms, and fulfillment of relevant approval procedures under both Shenzhen and Hong Kong Listing Rules. Pricing was determined through comprehensive analysis, including comparison with similar platforms in the Brazilian market and the Group's own offshore platform leasing prices, falling within the appraised range of $50,000 – $55,000 per day. CIMC’s board, including independent non-executive directors, considered the terms fair and reasonable.

These transactions are classified as connected transactions under Hong Kong Listing Rules, subject to reporting and announcement requirements but exempt from independent Shareholders' approval. Under Shenzhen Listing Rules, however, the transactions, when cumulatively calculated with existing framework agreements, exceed 5% of the company's most recent audited consolidated net assets, thus requiring approval by Shareholders at the general meeting. A circular detailing these transactions is expected to be dispatched by October 21, 2025.