LEXIN LOGISTICS (02490) intends to sell a ship

According to Zhitong Financial App News, Lehang Boundless (02490) announced that on December 30, 2025, the company's subsidiary Lehang Boundless and Blue Anchor signed a 2025 framework agreement. According to this, Lehang Boundless shall replace all rights and obligations under the 2024 shipbuilding agreement to Blue Anchor in accordance with the 2025 contract replacement agreement, while Blue Anchor should pay a total cost of US$170 million, of which $68.64 million should be paid to Lehang Boundless. According to the 2025 framework agreement, on the same day, Lehang Boundless, Blue Anchor, China Shipbuilding and Jiangnan Shipbuilding entered into a 2025 contract replacement agreement. According to this, Blue Anchor will replace Lehang Boundless as a buyer under the 2024 shipbuilding agreement, and Blue Anchor will take over and assume all rights and obligations of Lehang Boundless under the 2024 shipbuilding agreement.

A sold ship refers to a large container ship with the number H2872 and a capacity of 14,000 TEU expected to be built under the 2024 Shipbuilding Agreement. It is the subject of the 2025 Framework Agreement and the 2025 Contract Replacement Agreement. The Group is an integrated cross-border shipping logistics service provider in China. After considering the costs paid by the Group for the construction of the sold ships and the costs of the sold ships, the Company believes that the proposed transactions under the 2025 Framework Agreement and the 2025 Contract Replacement Agreement are an excellent opportunity for the Group to realize the value of the sold ships ahead of schedule, and is expected to bring in about US$2010 million in net revenue. The relevant revenue will supplement the Group's cash flow, further enhance its financial stability and bring considerable financial benefits to the Group.