Recently, Songfa Shares, which officially completed its "cap removal" (removal of the *ST risk warning) on April 20, released its first-quarter report for 2026: achieving an operating revenue of $1.23 billion and a net profit attributable to shareholders of the listed company of $152 million, both marking substantial year-on-year growth. As the first periodic report following the cap removal, the robust performance and continuously surging shipbuilding orders demonstrate the company's steady operational momentum.

While financial data shows steady growth, the company is also making comprehensive efforts in order acquisition, production delivery, and capacity expansion, making high-speed growth for the full year highly expected.

Impressive Multi-Type Order Acquisition Across "Container, Bulk, Oil, and Gas", Setting a Historical Best for the Same Period

In the first quarter, the company cumulatively signed 108 new shipbuilding projects. This includes a total of 76 oil tankers (including 54 VLCCs, 18 Suezmax tankers, and 4 LR2 product tankers), 12 container ships, 16 bulk carriers, and 4 low-temperature ships. With simultaneous growth across "container, bulk, oil, and gas" sectors, the order structure is both diverse and high-end, fully reflecting global shipowners' high recognition of Hengli Heavy Industry's building capabilities. More notably, the company's order intake in the first quarter alone has nearly approached the full-year 2025 level of 115 vessels, and its production schedule is already fully booked through 2030. Two major Greek shipowners, Dynacom and CAPITAL, hold 43 and 30 vessels under construction and on order, respectively. The continued increased investment from shipping giants fully validates Hengli Heavy Industry's outstanding strength in product quality, delivery schedules, and after-sales service, also marking the continuously rising competitiveness of Chinese shipbuilders in the international high-end market.

Core Advantages in Batch Construction and Rhythmic Delivery Highlighted, Shipbuilding Capabilities Reach World-Leading Levels

In January of this year, the company's No. 1 Dock successfully achieved the simultaneous launching of four 306,000 DWT VLCCs, while No. 3 Dock saw six 82,000 DWT bulk carriers exit the dock on the same day. On April 22, just three months later, No. 1 Dock once again completed the simultaneous exit and launching of two 306,000 DWT VLCCs and three 82,000 DWT bulk carriers. This fully showcases the company's world-leading shipbuilding capabilities in batch processing, rhythmic production, and large-scale operations. By the end of the first quarter, the company had successfully delivered 14 vessels, averaging one delivery in less than 10 days, marking the continuous optimization of its production organization capabilities and quality management systems.

Continued Increased Investment, Phase III Capacity Expansion Projects Rapidly Advancing and Nearing Commissioning

In recent years, the company's capacity release has been steady and fast. Following the full commissioning of the "Ocean Factory" and "Future Factory", it invested another $1.88 billion to launch three major Phase III shipbuilding capacity expansion projects. Currently, the construction of the No. 4 Dock is in full swing. According to public news, on April 10, three super-large gantry cranes for the No. 4 Dock officially kicked off the first day of tackling key tasks—a 256-meter span stretching across the sea sets a global record, and the 12,700-ton self-weight refreshes the world's heaviest record, with multiple core indicators aiming for the global peak. On April 16, the concrete pouring project for the fixed ballast of the No. 4 Dock gate was successfully completed. The 10,000-ton-class "giant" equipment was precisely positioned, and the dock gate pouring was completed 4 days ahead of schedule, laying a solid foundation for the advancement of subsequent processes and the timely commissioning of the dock. After all series of projects reach full production, the company is set to become one of the world's largest single-site and most comprehensively equipped shipbuilding bases.