China Merchants Port (00144): HIPG signs structured lease agreement with Ocean Offshore

According to Zhitong Finance App, China Merchants Port (00144) announced that on November 3, 2026, HIPG (an indirect subsidiary of the Company) signed a structured lease agreement with Ocean Offshore. Under the structured lease agreement, HiPG agreed to transfer all legal and beneficial rights, ownership and interest in the equipment to Ocean Offshore, and Ocean Offshore agreed to accept and grant all legal and beneficial rights, ownership and rights in the equipment, so that Ocean Offshore could immediately rent back the equipment to HIPG during the subsequent lease period.

On the same day, as a guarantee that HIPG fulfils its responsibilities under the structured lease agreement, HIPG and Ocean Offshore entered into a tenant's transfer, whereby HIPG transferred (including) the rights and rights under insurance and any claim for compensation for the equipment to Ocean Offshore.

The leased assets are equipment, namely 22 container work equipment located at Hambantota International Port, including 5 shore bridges, 1 dedicated branch ship bridge, and 16 field bridges. The total book value of the equipment is US$907.47,500 (equivalent to approximately HK$707.83 million), which is equivalent to its original cost because the equipment is newly manufactured and has not yet been put into use.

The directors (including independent non-executive directors) believe that the structured lease agreement and the transfer of the lessee are concluded in the general and daily business process of the Group in accordance with general commercial terms, and that the terms of the structured lease agreement and the lessee's transfer are fair and reasonable, and conform to the overall interests of the Company and its shareholders.