On February 23, Yangzijiang Shipping (Holdings) Co.,Ltd. announced its first financial year results following the spin-off. Despitethe challenging economic environment in 2022, the company achieved strongbusiness performance through improved organizational efficiency and vitality,as well as a continued focus on shipbuilding while maintaining stability andensuring quality.

Here are the key highlights of the financial yearresults:

         •       Totalrevenue increased by 37% compared to the previous year, reaching RMB 20.7billion.

         •       Grossprofit rose by 53% year-on-year, from RMB 2.1 billion in 2021 to RMB 3.2billion.

         •       Thetotal profit for the year amounted to RMB 2.8 billion.

         •       Buildingupon solid financial and operating results, the Group declared a year-enddividend of 5 Singapore cents per common share.

         •       Throughoutthe year, a total of 71 new ships were completed and delivered.