Hainan Strait Shipping adjusts project investment, eyes new funding, auditor change

Hainan Strait Shipping proposes to change its accounting firm for the 2025 fiscal year from Tianzhi International Certified Public Accountants (Special General Partnership) to Zhonghuan Certified Public Accountants (Special General Partnership). This change, intended to ensure independence and objectivity, is subject to shareholder approval. The proposed audit fee for 2025 is 1.349 million yuan.

Concurrently, the company is adjusting the investment scale for its Xinhai Passenger Transport Hub Project, increasing it from 1.451 bn yuan to 1.596 bn yuan, an additional 144.42 m yuan. This adjustment, approved by the board and awaiting shareholder consent, is attributed to higher construction costs, land acquisition expenses, and increased transaction taxes due to updated design standards, material price hikes, and land value appreciation. The additional funds will be covered by the company's own capital and existing bank loans.

To support its operational development and optimize its debt structure, Hainan Strait Shipping also plans to register and issue medium-term notes totaling up to 5 bn yuan through the China Interbank Market Traders Association. The board has sought shareholder authorization for the registration and issuance process, with final details to be determined based on market conditions.