On January 18, 2025, the 2025 Annual Meeting of Shenghang Group (also referred to as “the company”) was held grandly. Including middle and senior management staff of Shenghang Group and the subsidiary Shenghang Haoyuan, representatives of crew members attended the meeting. Shenghang Group’s independent directors were invited, as well. The meeting reviewed and summarized the main work in 2024, while making an overall work plan for the year 2025 and determining the work objectives.

At the beginning of the meeting, the main person in charge of the subsidiary Shenghang Haoyuan and the heads of various functional departments of the company first summarized and reported on the work in 2024, analyzed the reasons for the existing deficiencies in the work, proposed effective rectification plans and solutions, and at the same time clarified the overall work ideas and plans for 2025. Subsequently, Li Guanghong, General Manager of the company, on behalf of the company’s top management, comprehensively summarized and reported on the ship management work and daily governance work, and commented and summarized the work of each department in charge in 2024, deeply analyzed the problems and deficiencies existing in the current work of each department, and put forward clear development suggestions and improvement measures. And in combination with the deficiencies existing in the work of each department in 2024 and the work plan for 2025, detailed arrangements were made for the key tasks of 2025.

At the end of the meeting, Li Taoyuan, Chairman of the company, made a summary statement on the overall development of the company in 2024 and emphasized the deployment of work for 2025. In 2024, Shenghang Group was granted the operating qualification for liquefied gas carriers, and the first-built liquid ammonia vessel “SHENG HANG YONG LE” was put into use, effectively expanding the company’s main business scope and continuously enhancing its core competitiveness. The acquisition of the controlling stake in Haichanghua filled the gap in oil transportation, promoting complementary business resource advantages and enhancing regional transportation service capabilities. Introducing China Wanda Group as the controlling shareholder will enhance the synergy between both parties in terms of industrial resources, technology and other aspects. Chairman Li Taoyuan emphasized that in 2025, Shenghang Group will continue to uphold the business philosophy of “honesty and trustworthiness, safety and environmental protection, pragmatism and efficiency, and innovative service”, fully leverage the advantages of the controlling shareholder, China Wanda Group, to empower the company’s continuous high-quality development. Shenghang Group should carefully reflect on the shortcomings and deficiencies in the business operation process in 2024, strengthen the sense of responsibility of each department, identify problems and solve them from the root cause, and each department needs to continue to work closely together and cooperate closely to further enhance the safety management ability and operational efficiency of ships. Shenghang Group will optimize the domestic and foreign trade business layout, concentrate business operation and ship advantages to fully expand its own foreign trade transportation business, and build a highly competitive foreign trade elite team.

The year 2025 brings new opportunities as well as new challenges. Shenghang Group will continue to forge ahead with determination, be enterprising, actively promote the implementation and realization of various strategic plans, constantly enhance the core competitiveness of the company, consolidate its leading position in the industry, and create more and greater value for shareholders, clients, employees and society.