On July 22, Fujian Haitong Development Co., Ltd. (hereinafter referred to as “Haitong Development”) issued the “Plan for the Issuance of A-Shares to Specific Objects in 2025”, intending to issue no more than 30 million shares at a price of RMB 7 per share, with a fundraising cap of RMB 210 million (approximately US$29 million). All funds raised will be used to purchase three dry bulk carriers.
At the same time, Haitong Development also released its 2025 semi-annual report, achieving operating income of 1.8 billion yuan (approximately US$251 million) during the period, a year-on-year increase of 6.74%, and net profit attributable to shareholders of the parent was only 86.8661 million yuan (approximately US$12.1091 million), a sharp drop of 64.14% year-on-year.
Haitong Development stated that the decline in performance was mainly due to the pressure on global dry bulk freight rates, with the average BDI index falling 30% year-on-year, coupled with increased ship repair costs and rising financial expenses. In the first half of the year, the company acquired 12 new capacity through ship purchases and bareboat charters, with a total controlled capacity of 4.84 million deadweight tons, ranking among the top three domestic private shipping companies.