HIGHLIGHTS FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2020

- Revenue for the period: US$32 million

- Net loss for the period: US$23 million

- Basic loss per share: US$0.209

- Gearing ratio as at 30 September 2020: 20%



HIGHLIGHTS FOR THE THIRD QUARTER OF 2020

- Revenue for the quarter: US$14 million
 
- Net profit for the quarter: US$0.9 million

- Basic earnings per share: US$0.008

The Board of Jinhui Shipping and Transportation Limited (the 'Company') is
pleased to announce the unaudited condensed consolidated results of the Company
and its subsidiaries (the 'Group') for the quarter and nine months ended 30
September 2020.



Revenue for the third quarter of 2020 decreased 14% to US$14,257,000, comparing
to US$16,586,000 for the corresponding quarter in 2019. The Company recorded a
consolidated net profit of US$854,000 for current quarter as compared to a
consolidated net loss of US$1,972,000 for the corresponding quarter in 2019 due
to the decrease in net loss on financial assets at fair value through profit or
loss from US$3,976,000 for the third quarter of 2019 to US$1,681,000 for the
third quarter of 2020. Basic earnings per share was US$0.008 for the third
quarter of 2020 while basic loss per share was US$0.018 for the corresponding
quarter in 2019.



Revenue for the first nine months of 2020 decreased 26% to US$31,981,000,
comparing to US$43,370,000 for the same period in 2019. The Company recorded a
consolidated net loss of US$22,802,000 for the first nine months of 2020 while a
consolidated net loss of US$1,154,000 was reported in the first nine months of
2019. The consolidated net loss for the period was mainly attributable to the
poor business sentiment as affected by the outbreak of the Coronavirus Disease
2019 ('COVID-19') pandemic leading to a reduction in chartering freight and hire
revenue and the significant unrealized fair value loss on financial assets at
fair value through profit or loss amid the COVID-19 pandemic that triggered an
adverse global financial markets sell off in early 2020. Basic loss per share
for the period was US$0.209 as compared to basic loss per share of US$0.011 for
the first nine months of 2019.



As at 30 September 2020, the Group had nineteen owned vessels which included two
modern Post-Panamaxes and seventeen modern grabs fitted Supramaxes. 



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(Norwegian Securities Trading Act).

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