COSCO Haineng announced that the company's holding subsidiary, Zhaogang Company, plans to sign a contract for the construction of an ethylene ship with a related party, Dalian Heavy Industries. The contract price is 335 million yuan, with a total investment of about 341 million yuan. The funding is based on its own capital and external financing, and it is expected to be delivered within 18 months after the contract comes into effect. This transaction constitutes a related transaction. It has been reviewed and approved by the board of directors of the company. The relevant directors avoided voting, did not need to be submitted to the shareholders' meeting for consideration, and did not constitute a major asset restructuring. As of the date of disclosure of the announcement, the company has accumulated 3 similar related transactions in the past 12 months, with a total transaction amount of 1,951 billion yuan, which is less than 5% of the absolute value of the company's most recent audited net assets.

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