COSCO Haineng announced that Hainan Haineng, a wholly-owned subsidiary of the company, and Yangzhou Heavy Industries, signed a contract for the construction of 6 VLCC crude oil tankers. The total contract price including tax was 5.689 billion yuan, the single ship price was 948 million yuan, plus a total investment of about 5.743 billion yuan including interest during the construction period. The company increased Hainan Haineng's cash capital by 1,896 billion yuan. The ship is scheduled to be delivered from August 2029 to November 2030, and the ship payment will be paid in five installments according to the construction schedule. This transaction constitutes a related transaction. It has been reviewed and approved by the board of directors. The relevant directors have avoided voting. They still need to be submitted to the shareholders' meeting for consideration, and related shareholders need to avoid voting.

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