HIGHLIGHTS FOR THE QUARTER ENDED 31 MARCH 2024 
- ­Revenue for the quarter: US$28 million
- ­Net profit for the quarter: US$2 million
­- EBITDA: US$13 million
- ­Basic earnings per share: US$0.022
- ­Gearing ratio as at 31 March 2024: 4%

The Board of Jinhui Shipping and Transportation Limited (the 'Company') is
pleased to announce the unaudited condensed consolidated results of the Company
and its subsidiaries (the 'Group') for the quarter ended 31 March 2024. 

The dry bulk market showed counter-seasonal strength in the first quarter of
2024 as the freight rate momentum carried over from the last quarter of 2023,
supported by increase in demand on dry bulk commodities and longer sailing
distances. Market freight rates began to regain strength driven by the robust
demand for dry bulk commodities, limited supply of vessels coupled with the Red
Sea dispute. This further pushed up the rise in market freight rates.

Revenue for the first quarter of 2024 increased 93% to US$27,894,000, comparing
to US$14,430,000 for the corresponding quarter in 2023. The Company recorded a
consolidated net profit of US$2,405,000 for current quarter as compared to a
consolidated net loss of US$12,752,000 for the corresponding quarter in 2023.
Basic earnings per share for the first quarter was US$0.022 as compared to basic
loss per share of US$0.117 for the same quarter in 2023. The Group was benefited
by the positive sentiment on the dry bulk shipping market driven by the
increasing tonne-mile demand on commodities, caused by unresolved multiple
geo-political issues. 

As at 31 March 2024, the Group operates twenty-two owned vessels and six
chartered-in vessels, with total carrying capacity of 1,685,072 metric tons. 

For details, please see attachment on http://www.newsweb.no. 

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act).