China Rongsheng : Heavy Industries Successfully Delivers Its First Vloc, Equipped with Self-Built Main Engines in Leading Technology for Very Large Bulk Carriers

[Press Release] CHINA RONGSHENG HEAVY INDUSTRIES SUCCESSFULLY DELIVERS ITS FIRST VLOC EQUIPPED WITH SELF-BUILT MAIN ENGINES IN LEADING TECHNOLOGY FOR VERY LARGE BULK CARRIERS

(25 November 2011, Hong Kong) - China Rongsheng Heavy Industries Group
Holdings Limited ("China Rongsheng Heavy Industries" or the "Group"; stock code:
01101.HK), a large heavy industries group in China, announced that it has delivered its first 380,000 DWT Very Large Ore Carrier (VLOC) to Vale S.A. ("Vale"). The
380,000 DWT VLOC is a high-tech vessel self-developed by the Group. It is not only the world's largest dry bulk carrier with the largest cargo capacity, but also incorporates the Group's most advanced shipbuilding technology in very large bulk carrier. Successful delivery of the new vessel marked an innovative breakthrough for the shipbuilding industry in China.
The 380,000 DWT VLOC was christened "VALE CHINA" during July this year. To date, it is the largest bulk carrier built by Chinese shipbuilding industry in terms of DWT as well as the world's largest bulk carrier with a capacity up to 400,000 DWT. The vessel measures 360 metres in length, 65 metres in breadth and 30.4 metres in depth.

Mr. Zhang Zhi Rong, Chairman of the Board and Non-executive Director of China Rongsheng Heavy Industries, said, "The successful delivery of the VLOC not only has extraordinary significance for the development of the shipbuilding industry in China, it also marks an important breakthrough of China Rongsheng Heavy Industries in moving towards its goal of developing into one of the world's top diversified heavy industries group. The Group wishes to pave the way forward for private enterprises within China's heavy industry to wield greater influence in the global market."

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China Rongsheng Heavy Industries Group Holdings Limited

25 November 2011 / Page 2

Mr. Chen Qiang, Chief Executive Officer and Executive Director of China Rongsheng Heavy Industries, said, "'VALE CHINA' represents the most advanced bulk carrier in the world. The technologies needed for building the vessel are far more challenging than those for building the typical 200,000 DWT VLOCs. Far more advanced technologies are required to meet more demanding specifications on its structure, pressure endurance and fluid dynamic design. The delivery of the new vessel demonstrates the Group's leadership in the global VLOC shipbuilding market. The sea trial voyage of 'VALE CHINA' has been successful, with an outstanding performance in cargo loading capability and speed. While the second and third

380,000 DWT VLOCs have also been launched, the Group expects smoother delivery of other VLOCs. We are well prepared for the coming peak of delivery period."

Mr. Marcus Moura, General Manager of Shipbuilding and Conversions of Vale China, said, "'VALE CHINA' is professionally designed and built by China Rongsheng Heavy Industries, and is tailored to address VALE's trade pattern and terminals requirements in Brazil. This fantastic vessel certainly will enhance our competitiveness in the iron ore market, also help our company to cope with our ambitious iron ore export plan to Asia. We would like to thank China Rongsheng Heavy Industries for its hard and dedicated work and for keeping the commitment to deliver this vessel to our fleet within the required quality standards."

The main engine of "VALE CHINA", the 7RT-flex 82T, is self-built by China Rongsheng Heavy Industries and produced by Hefei Rongan Power Machinery Co. Ltd., the Group's marine engine building division. The engine has not only gained a high degree of recognition from shipowners, but is also the first WÄRTSILÄ low-speed diesel engine with maximum power manufactured by a Chinese enterprise independently. The new engine boasts the advantages of huge power output, low oil consumption, compact structure, and reduced emission of SOx and NOx. All these features demonstrate the Group's all-round shipbuilding ability while addressing the operational and environmental protection concerns of shipowners.
In August 2008, the Group signed shipbuilding contracts for twelve 380,000 DWT VLOCs with Vale, having a total contract value as high as US$1.6 billion. The work under the contracts attracted wide attention at the time as it set three world records in the contract value of a single shipbuilding order, carrying deadweight tonnage of single bulk carriers and total deadweight tonnage of orders. "VALE CHINA" delivered today is the first vessel for the VLOC series. In 2009, Vale also announced that it would rent four VLOCs of the same type from Oman Shipping Company which were also to be built by China Rongsheng Heavy Industries.

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China Rongsheng Heavy Industries Group Holdings Limited

25 November 2011 / Page 3

About China Rongsheng Heavy Industries Group Holdings Limited

Established in 2005, China Rongsheng Heavy Industries Group Holdings Limited has been developed as a leading diversified large heavy industries group in China. The Group is headquartered in both Shanghai and Hong Kong. Currently, China Rongsheng Heavy Industries spans four business segments: shipbuilding, offshore engineering, marine engine building and engineering machinery. Products include dry bulk carriers, crude oil tankers, containerships, offshore engineering products, low-speed marine diesel engines and small- to mid-size excavators for construction and mining. According to Clarkson Research, China Rongsheng Heavy Industries was the second largest shipbuilder and the largest privately-owned shipbuilder in the PRC in terms of total order book measured by DWT as at August 2011. The Group operates the largest shipyard in the PRC. It is also a global leader in manufacture of the Very Large Ore Carrier (VLOC) of 380,000 DWT.

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