The board of directors of SITC International Holdings Company Limited announced unaudited Group revenue for the three months ended 31 March 2023. Revenue generated by the Group's container shipping and logistics business decreased by approximately 40.7% from approximately USD 1,027.7 million for the three months ended 31 March 2022 to approximately USD 609.1 million for the three months ended 31 March 2023, principally attributable to the decrease in container shipping volume and average freight rate. Further, revenue generated from the Group's dry bulk and others business decreased by approximately 92.4% from approximately USD 6.6 million for the three months ended 31 March 2022 to approximately USD 0.5 million for the corresponding period in 2023.

The decrease was principally attributable to that the Group disposed all of its dry bulk vessels during the year 2022 and did not hold any dry bulk vessels afterward. As a result, revenue of the Group decreased by approximately 41.1% from approximately USD 1,034.3 million for the three months ended 31 March 2022 to approximately USD 609.6 million for the corresponding period in 2023.