About JINHUI HOLDINGS Company

The Company was incorporated as a limited company in Hong Kong, China on April 23, 1991, and listed on the Hong Kong Stock Exchange on December 6, 1991 (stock code: 137). It is a holding company of various ship-owning and ship-leasing subsidiaries. Since 1992, the company has diversified its business, such as trade and investment in various industries in China. After the restructuring in June 1994, Jinhui Shipping and Transportation Limited became the direct holding company of the Group's shipping business. To attract international attention to Jinhui Shipping, its shares have been listed on the Oslo Stock Exchange in Norway since October 1994 (stock code: JIN). tactics The Group's fleet consists mainly of super portable ships. This type of ship is a larger and more efficient portable ship design, and the demand for this type of ship from customers around the world is increasing day by day. The Group will focus on taking wise and decisive measures to maintain a stable financial position and moderate leverage efficiency, not ruling out a reduction in fleet size, so that we can further focus on prudence and stability as our core goal in the future, weather the current storm, and seek to become one of our customers' preferred ship suppliers. On the commercial side, our strategy is to maintain a flexible ship leasing policy and seek the best balance between long-term chartering agreements that can bring strong cash inflows and instant contracts that allow the Group to take advantage of future rent increases. We will also further strengthen risk management with the aim of reducing the potential risks of counterparties. Shipping business The Group operates its global shipping business through Jinhui Shipping. Jinhui Shipping is a subsidiary of the Company holding approximately 55.69% of the Company's interests as of the date of this report. The Group's shipping business began in the mid-1980s and mainly operated in the form of global leased bulk dry cargo ships. The Group has developed a prudent yet perfect way of operating shipping to connect suppliers around the world with end users. The Group's primary task is to understand the actual needs of customers and to select suitable vessels to carry bulk cargo in the form of a sea charter or term lease. The Group operates a modern bulk dry cargo fleet. The fleet is used to carry cargo or to be leased to other shipping operators. The choice between the two is that it is expected to bring high economic benefits to the Group. The key to the success of a ship leasing business is time, performance and relationships. Charterers should fully understand their customers and suppliers and establish mutual trust and respect. The Group has always performed excellently in this important field, despite being able to consolidate contractual relationships and maintain a reasonable business volume during difficult times of economic downturn. The Group's policy has always complied with all environmental rules and regulations applicable to its shipping business and its daily working environment to avoid the release of toxic liquids into the environment. All of the Group's own ships are properly maintained, and the Group also attaches great importance to the compliance of its business with safety and environmental laws and regulations, including (but not limited to) ISM rules, ISPS rules, MARPOL conventions and other rules applicable under IMO regulations. The Group ensures that all crew members working on ships are trained and certified in accordance with the STCW Convention. The Group's own ships are also subject to the laws, regulations and rules of each country and the ports where the ships call. The Group has established policies and procedures to ensure compliance with such laws, regulations and rules. As of December 31, 2018, the Group owned 19 self-owned ships and employed 421 crew members on board.