The Board of Jinhui Shipping and Transportation Limited makes this update
announcement to the Company's announcement dated 20 April 2018 in relation to
the Co-Investment and the Company's update announcement dated 28 May 2020 (the
"Announcement") in relation to the status of the Co-Investment.  Unless
otherwise defined herein, capitalized terms used in this announcement shall have
the same meaning as ascribed thereto in the Announcement. 

The Co-Investor received updates from the Investment Manager in May 2020 in
relation to the status of the Co-Investment as announced by the Company on 28
May 2020 in the Announcement. Due to unexpected Coronavirus Disease 2019
("COVID-19") pandemic that has broadly affected different economic sectors, the
Investment Manager advised the Co-Investor on 21 August 2020 that the vendor of
Tower A has agreed on the extension of the closing of the acquisition to
November 2020. We will update all shareholders of the Company on the significant
investment update timely and accordingly.

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