THIRD QUARTER AND NINE-MONTH REPORT FOR THE QUARTER AND NINE MONTHS ENDED 30 SEPTEMBER 2025

28 Nov 2025 05:10 CET

HIGHLIGHTS FOR THE THIRD QUARTER OF 2025
- Revenue for the quarter: US$40 million
- EBITDA for the quarter: US$17 million
- Net profit for the quarter: US$0.08 million
- Basic earnings per share: US$0.001

HIGHLIGHTS FOR THE NINE MONTH ENDED 30 SEPTEMBER 2025
- Revenue for the period: US$120 million
- EBITDA for the period: US$67 million
- Net profit for the period: US$15 million
- Basic earnings per share: US$0.139
- Gearing ratio as at 30 September 2025: 2%

The Board of Jinhui Shipping and Transportation Limited (the 'Company') is
pleased to announce the unaudited condensed consolidated results of the Company
and its subsidiaries (the 'Group') for the quarter and nine months ended 30
September 2025.

Dry bulk freight rates demonstrated steady improvement throughout the third
quarter of 2025, although it continued to face pressure due to ongoing weak
market confidence amid global economic and financial instability. The Group
reported a revenue for the third quarter of 2025 of US$40,425,000, representing
a decrease of 11% as compared to US$45,585,000 for the corresponding quarter in
2024. The Group recorded a consolidated net profit of US$82,000 for the current
quarter as compared to a consolidated net profit of US$7,595,000 for the
corresponding quarter in 2024. Basic earnings per share for the third quarter
was US$0.001 as compared to basic earnings per share of US$0.070 for the same
quarter in 2024. The third quarter results included a non-recurring net loss of
US$3,730,000 on disposal of four vessels upon their deliveries.

For the first nine months of 2025, revenue reached US$119,971,000, representing
a modest increase compared to US$114,724,000 in the same period of 2024. The
Group reported a consolidated net profit of US$15,231,000 for the first nine
months of 2025, a decrease from US$18,816,000 recorded in the corresponding
period of the previous year. An aggregate disposal loss of US$6,166,000 was
recognized in connection with the delivery of five vessels to purchasers during
the period. During the first nine months of 2025, the Group received a
settlement income of US$20,223,000 arising from a legal dispute on the
non-performance of a charterparty. Basic earnings per share for the first nine
months of 2025 was US$0.139 as compared to basic earnings per share of US$0.172
for the first nine months of 2024.

To stay competitive in the market, the Group focused on enhancing the quality of
our fleet and adjusting our fleet profile, particularly in terms of seeking to
lower the overall age profile of our fleet. During the first nine months of
2025, the Group entered into agreements to dispose of six aging Supramaxes at a
total consideration of US$62,715,000 with net loss of US$6,166,000 on completion
of the disposal of five vessels. One vessel, which will be delivered to the
purchaser, was reclassified as assets held for sale as of the reporting date,
with an impairment loss of US$2,147,000 on assets held for sale (disposed
vessel) recognized during the period. These fleet renewal initiatives contribute
to lowering the overall age of our fleet profile, hence strengthening our market
competitiveness and long-term sustainability.

As at 30 September 2025, the Group operated a fleet of twenty-nine vessels, of
which twenty-one are owned vessels (including the one which has been disposed of
and reclassified under assets held for sale) and eight chartered-in vessels,
with total deadweight carrying capacity of approximately 2,175,000 metric
tonnes. Among the owned vessels were two that have been arranged under sale and
leaseback agreements.

For details, please see attachment on http://www.newsweb.no.

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act).

More information:
Access the news on Oslo Bors NewsWeb site

660798_jst25q3-final.pdf