The board of directors of Hilong Holding Limited announced that Hilong Offshore Construction (Thailand) Limited, an indirect wholly-owned subsidiary of the Company, has recently signed an installation and removal contract with Mermaid Subsea Services (Thailand) Ltd. for pipeline and platform installations and removals. The contract value of the Contract is approxim ately USD 76.2 million. The Board believes that the signing of the Contract demonstrates that the Group's offshore engineering services is highly recognized in the industry, and helps strengthen its market development in Southeast Asia.