About XIN YUAN ENT Company

The Group mainly provides asphalt ship leasing services under various chartering agreements, including: (i) term leases; and (ii) charter and charter contracts. According to the Frost & Sullivan Report, in 2017, the Group ranked fourth in the global asphalt ship rental service market in terms of total ship carrying capacity (DWT). Asphalt is a petroleum product and a binder and waterproofing material. It is commonly used in infrastructure construction, road maintenance, and waterproof products such as underground storage warehouses or flat roofs. Asphalt is usually transported at high temperatures to avoid solidification. The Group's ships are equipped with technology to control and maintain high temperatures and reduce heat loss from cargo ships as much as possible. In 2017, there were about 6,000 special vessels in the world, including 290 asphalt carriers. Furthermore, asphalt ships' DWT accounts for about 0.4% of the total DWT of special purpose vessels. We are committed to providing high-quality asphalt cargo ship rental services. We have our own team of engineers and we are actively involved in designing our ships. Our team works closely with ship design experts, our customers, shipyards, international classification societies, and banks or financial leasing companies. We have customized ship plans to build new ships that meet our customer requirements (such as fuel efficiency and carrying capacity). The directors believe that by implementing customization, we can improve our service level and competitiveness.