Recently, Fujian Highton Development Co., Ltd. (hereinafter referred to as "Highton Development") announced in its "2026 Plan for Issuing A-Shares to Specific Targets" that, in order to meet fleet expansion needs while maintaining financial prudence, the company plans to raise funds through a share issuance to acquire a total of 16 dry bulk carriers and multi-purpose heavy-lift vessels. This move aims to further expand the company's shipping capacity, optimize its fleet structure, and deepen its global route network.

According to the announcement, the total project investment is approximately RMB 2.252 billion, with an investment period of 36 months. The implementation entities include Highton Development, its wholly-owned subsidiary Highton International Shipping Co., Ltd. ("Highton International"), and HAI DONG INTERNATIONAL SHIPPING PTE. LTD.

Highton Development stated that the 16 vessels are in line with national policies encouraging the development of the shipping industry. In recent years, policies such as the "14th Five-Year Plan for Water Transport Development" and the "Guidance on Accelerating the High-Quality Development of the Modern Shipping Services Industry" have been introduced, providing clear support for the sector. Against this backdrop, the shipping industry has established a relatively stable foundation for growth.

At the same time, the company's mature vessel management capabilities also underpin the implementation of this project. Highton Development has built a diversified dry bulk fleet covering vessel types such as Supramax, Panamax, and Capesize, and continues to increase its focus on multi-purpose heavy-lift vessels, nurturing new business growth drivers. The company is continuously improving its cargo sourcing, shipping capacity, and port operations, expanding into the transport of bulk commodities such as coal, iron ore, and steel, while enhancing its vessel allocation efficiency in the market through digitalized capacity management.

Additionally, leveraging the policy advantages of the Pingtan Comprehensive Experimental Zone and other regions, Highton Development continues to expand its domestic coastal and international ocean routes, increasing its dry bulk capacity and market coverage. It is also actively positioning itself in niche markets such as multi-purpose heavy-lift vessels, further strengthening its integrated shipping service capabilities.

"100-Ship Plan" Accelerates, with Increased Focus on Heavy-Lift Vessels

In early August this year, Highton Development reiterated during its semi-annual performance briefing for 2026 that its "100-Ship Plan" is progressing steadily. The plan aims to expand its owned fleet to 100 vessels between 2028 and 2029. The company has not predetermined the configuration ratio for each vessel type; instead, it closely monitors cyclical trends in specific segments, seizing opportunities to acquire vessels at relatively low prices, with Supramax vessels remaining the core of its fleet.

When it comes to capacity expansion, Highton Development prefers acquiring second-hand vessels. The company believes that second-hand ships offer cost advantages compared to newbuilds and can be put into operation immediately upon delivery. However, the current announcement did not disclose the specific breakdown of newbuilds versus second-hand vessels among the 16 planned acquisitions, leaving the final capacity composition to be clarified later.

Regarding its heavy-lift vessel business, Highton Development stated that domestic demand for breakbulk cargo exports continues to grow, and both its heavy-lift vessels and Supramax bulk carriers are expected to benefit. In the long term, global shipping demand is showing a trend toward diversification, and traditional single-vessel types are increasingly unable to meet the evolving range of transportation needs. Based on this, the company remains optimistic about the prospects of the heavy-lift vessel segment and views it as a key direction for cultivating its second growth curve.

Just four days later, Highton Development announced another order—Highton International will invest no more than RMB 600 million (excluding taxes) to build two 62,000 DWT multi-purpose heavy-lift vessels. This marks the company's third order for this vessel type this year, bringing the total number ordered in 2026 to nine, with cumulative investments reaching RMB 2.7 billion.

Accelerated Expansion of the Capacity Footprint

In the first half of this year, Highton Development continued to expand its fleet, acquiring four dry bulk carriers and securing seven newbuilding multi-purpose heavy-lift vessels through finance leases and operating leases. Upon the delivery of all relevant vessels (excluding newbuilding capacity), the company will operate 15 long-term chartered dry bulk vessels, 65 self-operated dry bulk vessels, 4 multi-purpose heavy-lift vessels, and 3 oil tankers, with a total controlled capacity of 5.5 million deadweight tons.

Alongside the ongoing capacity expansion, the company's financial performance has also seen significant growth. In the first half of 2026, Highton Development reported operating revenue of RMB 3.471 billion, a year-on-year increase of 92.78%; net profit attributable to shareholders of the listed company was RMB 523 million, up 502.60% year-on-year; and net profit after deducting non-recurring gains and losses was RMB 521 million, an increase of 507.25% year-on-year.