Singamas Container Holdings Limited

Thank you. Good afternoon, friends, ladies and gentlemen.

Thank you for joining us this afternoon. We will go through the presentation by looking into Singamas' corporate profile, industry dynamics, financial and business review.

As an established container manufacturer, leasing, logistics and depot service provider, we currently operate 5 factories in China. Our total annual capacity is now at about 270,000 TEU of dry freight and ISO specialized container and about combined capacity of 21,000 units of tanks and customized containers.

For leasing business, we currently own a fleet of about 180,000 TEU containers. Singamas is also operating 8 container depots across 7 major cities in China and 1 logistic company in Xiamen.

This slide shows the ongoing upgrade of our Huizhou and Shanghai manufacturing plant designed to enhance capacity and capability of energy storage system ESS container orders. At Huizhou plant, the upgrade is aimed at boosting overall production capacity.

The facility has been equipped with advanced robotic and automation application to meet the rising demand for ESS containers. At our Shanghai plant, we have expanded dedicated production line for high-value customized containers, including Battery Energy Storage System, BESS containers and AI Data Center containers.

This has enabled elevated development of our integrated business. In year 2025, annual capacity for customized container at Shanghai plant has increased to 7,200 units.

The next 3 slides, Slide 7 to 10, cover our product ranging from traditional dry freight and ISO specialized container to innovate customized container include customer containers for ESS, data center, car racks, housing and more. And we also provide a full range of container solution services.

The core product of Singamas' customized container is ESS, energy saving system. This container facilitate efficient electricity storage and release, benefiting users by allowing electricity consumption at lower period.

ESS container ensures stability in new energy power generation and are designed to withstand extreme condition for normal operation in challenging environment. Green Tenaga is our wholly owned subsidiary in Singapore, dedicated to accelerating the journey towards net zero emission and carbon neutrality.

Through its BESS solution, it form a pivotal element in our commitment to delivering comprehensive green energy solution worldwide. In 2025, Green Tenaga partnered with Singapore A*STAR ARTC to co-develop an analytic power energy management system that enhanced battery health, energy efficiency and intelligent sustainability energy solution for BESS.

In our collaborated in a collaboration with the Institute of Technical Education to co-develop an ESS training program for the youth in Singapore. With this program, Singapore Singamas contribute to its ESG goal through fostering new energy talent development, enhancing ESS safety standard and supporting low-carbon economy transition.

Next, for our leasing business. Significant growth was recorded for the business this year.

By the end of 2025, we own a fleet of about 18,000 TEU leasing containers, 18,000. Singamas is a major operator of 8 container depot in China.

We maintain strong tie with key port operators in the countries and foster relationship with major global shipping and leasing company. Our logistics service business focused on enhancing warehousing capability, integrating multimodal transport resources, improving digital operational capabilities for efficiency and collaborating with service provider to expand network coverage.

This slide shows Drewry's analysis of global dry freight container production and pricing trend of January 2026. For the year 2025, worldwide dry freight container production was 6.5 million TEU, far exceeding the initial market expectation.

However, it has led to significant surplus worldwide. As the market is expected to regulate the surpluses in years to come, Drewry forecast the industry production for the year 2026 will decline sharply to 3.6 million TEU.

On pricing, the average price of a 20-foot standard dry freight is expected to reach USD 1,710 for the year 2026, a year-on-year increase of 2.6%. This trend highlights a market transitioning from over production to caution rebalancing.

According to Drewry, long-term lease rate for all standard dry freight containers dropped sharply during 4Q 2025, and leasing rates are projected to remain subdued in the next few years. This forecast from Drewry Q1 2026 provide a solid baseline for market stabilization.

However, they were made before the major disruption from the Middle East war, including rerouting around the Cape of Good Hope, elevated fuel and insurance costs. These emerging factors or rather disturbing factors may affect short-term leasing rates and recovery trajectory in ways not reflected in the current forecast.

That means the war in Middle East have created many issues, and this may affect what we forecasted. This chart shows Singamas' average selling price trend of 20-foot dry freight container and related steel costs over the years.

Despite better-than-expected global trade volume and ongoing new container vessel order, U.S. tariff and trade policy continue to create market uncertainty, leading to softer container demand in the second half of 2025.

Consequently, the average selling price of 20-foot dry freight container dropped 12% to USD 1,752 in 2025, meanwhile, container steel average cost dropped about 11%. Now let's move on to the financial review section.

Revenue decreased by 17% to USD 481.5 million due primarily to soft market demand and overproduction in previous year. Consolidated net profit attributable to owners of the company decreased by 48% to USD 17.4 million.

Basic earnings per share was USD 0.0073 for the year compared with USD 0.0143 in 2024. Net asset per share was USD 23.30 as a year of 2025, almost the same as previous year.

We have decided a final dividend of HKD 0.02 per share proposed for the year 2025. Together with the interim dividend of HKD 0.03, total dividend for this year was HKD 0.05 per share, representing a payout of about 88%.

Let's move on to business review section. First, manufacturing.

It shows the performance of our manufacturing and leasing business. This segment achieved revenue of USD 447.8 million, which accounted for about 93% of our total revenue.

Segment profit before tax and noncontrolling interest was about USD 18.1 million. This slide shows the breakdown of container units sold under different product categories and accordingly, the respective revenue generated.

The table on the left shows that Singamas sold over 147,000 TEU of dry freight container during the year. The pie chart on the right shows that the sales of this dry freight container made up of 57% of the segment revenue compared to 72% in the previous year.

For customized container, more than 13,000 units were sold during this year. As global interest in solar energy grows, revenue contributed by our ESS continued to increased drastically from 16% of 2024 to 33% in 2025.

Leasing revenue accounted to 8% of the group total revenue during the year. Finance lease Finance lease interest income was USD 4.1 million, up 47% year-on-year, while operating lease income was about USD 15.6 million, up 176% year-on-year.

This slide shows the performance of our logistics service business. Its revenue was USD 33.8 million and segment profit before tax and noncontrolling interest was USD 8.7 million.

This slide represents our marketing and operating synergy strategy in the years to come. The political and tariff issue between U.S.

and other countries, especially following the outbreak of the Middle East war will impact our operating environment. We believe many carriers will once again choose to avoid the Strait of Hormuz and the Suez Canal.

While this rerouting could initially stimulate demand in dry freight container market, the current sizable dry freight pool of 55 million TEU is likely to temper the overall impact, leaving demand for dry freight container unpredictable in the first half of 2026. At the same time, the ongoing crude oil crisis is expected to accelerate global transition to new energy infrastructure, which could translate into further growth in market demand for our ESS containers.

Faced with unpredictable demand in dry freight container, we maintain strict cost control and cautious capital expenditure. On the maintenance side, our focus remains on enhancing safety and environmental protection of our plants.

On the growth side, we invest on high-growth customized container project and automation -- short payback automation initiative. This balanced strategy keep us agile, cost disciplined and well positioned to capture any new opportunities in this challenging market.

The following appendices that show our income statement and the data of our factory and depot for your further reference. That concludes my presentation.

If you have any questions, Winnie, Rebecca and myself will be happy to answer. Thank you very much.

[Foreign Language]

[Foreign Language] New energy container [Foreign Language]

[Foreign Language]

[Foreign Language] tank container [indiscernible] ESS. [Foreign Language]

[Foreign Language]

[Foreign Language] barrier of entry is higher [Foreign Language]

[Foreign Language]

[Foreign Language] renewable energy [Foreign Language]

[Foreign Language] sustainable energy [Foreign Language]

[Foreign Language]

[Foreign Language] 170 out of 481..

[Foreign Language] specialized container [Foreign Language]

[Foreign Language]

[Foreign Language] weekly service [Foreign Language]

[Foreign Language]

[Foreign Language] solar farm -- solar energy farm [Foreign Language]

[Foreign Language]

[Foreign Language]

[Foreign Language]

[Foreign Language]

[Foreign Language]

[Foreign Language]

[Foreign Language] finished product like quality [Foreign Language]

[Foreign Language]

[Foreign Language] economies of scale, productivity [Foreign Language]

[Foreign Language] Singapore, Green Tenaga [Foreign Language]

[Foreign Language]

[Foreign Language]

[Foreign Language]

[Foreign Language] million dollar question [Foreign Language]

[Foreign Language] Bangladesh, Sri Lanka [Foreign Language] it's not free, there's a cost involved. [Foreign Language]