Ningbo Marine raises 2025 related-party transaction estimates to 20 bn yuan

Ningbo Marine Co. announced an increase in its estimated ordinary related-party transactions for 2025. The company plans to raise the projected transactions with Zhejiang Zheneng Fuxing Fuel Co. and its controlled entities by 1 billion yuan, bringing the total estimated amount to no more than 20 billion yuan for 2025. This adjustment is primarily attributed to increased imported coal transportation volumes.

The transactions involve providing services to Zhejiang Zheneng Fuxing Fuel Co., a subsidiary of Zhejiang Energy Group Co., Ningbo Marine's indirect controlling shareholder. Independent directors concluded these transactions are necessary for ongoing operations, adhere to fair and reasonable pricing, and do not harm the company's independence or shareholder interests.

The related-party transactions are expected to strengthen Ningbo Marine's market share and leverage the specialized capabilities of Zhejiang Energy Group's subsidiaries, ensuring resource complementarity and aligning with the interests of the company and its shareholders. The pricing policy for these transactions references market prices, ensuring fairness and reasonableness.