On the morning of July 10th, the "MUSALA", the first 31,800 DWT Great Lakes bulk carrier built by YAMIC for the Bulgarian National Shipping Company NAVIBULGAR, departed from the shipyard dock and entered into operation, making its maiden voyage to the Tianjin Port in China. The delivery and signing ceremony for the "MUSALA" (flying the Maltese flag) was completed in the conference room of YAMIC on the afternoon of July 6th.Representatives from NAVIBULGAR, including Executive Director Mr. Alexander Kalchev, CFO Ms. Zlatina Angelova, CLO Mr. Vasil Atanasov, CTO Mr. Dimitar Tonev, and Project Manager Mr. Nikolay Nikolov from the on-site supervision team, as well as Ms. Wang Xiaoxi, Deputy General Manager of ICBC Financial Leasing's Shipping Finance Department, and representatives from our group, including Mr. Song Shuming, Deputy General Manager of our group and General Manager of YAMIC, Mr.Junichi Ueyama, CFO of YAMIC, Mr. Chen Guoqiang, Deputy General Manager of YAMIC, and Mr. Nakao Shinichi, General Manager Assistant of YAMIC, attended the signing and delivery ceremony.

On the afternoon of July 6th, our group and the shipowner, NAVIBULGAR, also jointly held a grand naming ceremony for the new vessel. Leaders and guests including Ms. Zlatina Angelova, Mr. Alexander Kalchev, Ms. Wang Xiaoxi, Ms. Yan Xiaolin, Mr. Song Shuming, Mr.Junichi Ueyama, Mr. Chen Guoqiang, and Mr. Nakao Shinichi attended the naming ceremony. Ms. Zlatina Angelova, the godmother, christened the new ship "MUSALA", cut the ceremonial rope, and broke a bottle of champagne, sounded the vessel's horn, and wished the new vessel and its crew a safe journey, prosperity and wealth for the shipowner.

At the ceremony, Mr. Alexander Kalchev delivered a speech on behalf of the shipowner, stating: "After years of cooperation, we not only have full confidence in Yangzijiang Group's ability to deliver top-notch products, but we have also established a high degree of trust, close cooperation, and more importantly, a deep friendship with Yangzijiang Group. YangzijiangGroup has delivered 12 vessels to NAVIBULGAR and signed contracts for 10 vessels including this one, but I believe this is only the beginning of our successful cooperation."

Mr. Song Shuming addressed on behalf of the shipyard:"MUSALA is the first Great Lakes bulk carrier built by YAMIC for NAVIBULGAR. The smooth delivery of this vessel isinseparable from the active cooperation and concerted efforts of all partiesinvolved. Since 2017, YangzijiangGroup and NAVIBULGAR have established ourfirst cooperation. So far, we have successfully delivered 13 vessels, and weare delighted to witness the win-win relationship between us further strengthened in the past 6 years. YAMIC will always maintain internationalfirst-class shipbuilding quality standards, continuously improve customersatisfaction and YAMIC brand competitiveness, and build more competitive shipsfor our shipowners."

The "MUSALA" is classified by DNV and is the seventh ship delivered by YAMIC this year. With the collaborative efforts of the shipowner's representatives, on-site construction supervision team, classification society site team and shipyard site team, the vessel was successfully completed and delivered. We extend our gratitude to all parties for their support of this project.