Phoenix Shipping receives 40.67 million yuan in government subsidies

Phoenix Shipping (Wuhan) Co. and its subsidiary, Wuhan Changjiang New Phoenix Logistics Co., recently received two government subsidies totaling 40.67 million yuan. This amount represents 8.87% of the company's most recent audited net assets and was received as monetary funds.

The subsidies are related to the "Old Operational Ship Scrapping and Renewal Subsidy" and were provided by the Jianghan District Urban Management and Law Enforcement Bureau of Wuhan City. Phoenix Shipping (Wuhan) received 19.02 million yuan for the "Changlianghai Ship Old Operational Ship Scrapping and Renewal Subsidy," while Wuhan Changjiang New Phoenix Logistics received 21.65 million yuan for the "Changjinghai Ship Old Operational Ship Scrapping and Renewal Subsidy."

According to the announcement, these subsidies are considered government grants related to income, not everyday business operations, and will be recorded as non-operating income. The total amount will be included in the company's fourth-quarter 2025 profit. The company advises investors to be aware of investment risks as the final accounting treatment and impact will depend on the annual audit results.