Reference is made to the announcement of Florens International Limited (a subsidiary of COSCO SHIPPING Development) dated 1 September 2022. Mr. Fan Wei has been appointed as chairman and general manager of Florens International Limited and director, chairman and general manager of Florens Asset Management Company Limited.

　　Florens International Limited is principally engaged in the lease and management of various types of containers and the sale of second-hand containers. The company has established a business network covering five continents, providing services for more than 170 major ports around the globe. Currently, its business scale ranks third in the world.

　　In the short term, Florens International Limited will follow the guideline of "consolidating core business and seizing market opportunities" research the lease of intelligent containers, improve the synergy between "lease and manufacturing" and "lease and shipping". In the long term, Florens International Limited will strive to seize market opportunities and actively improve asset quality to build itself into a world leading leasing company with differentiated competitiveness.