[Press Release] CHINA RONGSHENG HEAVY INDUSTRIES SIGNS SHIPBUILDING CONTRACT FOR 64,000 DWT BULK CARRIERS

(18 May 2014, Hong Kong) - China Rongsheng Heavy Industries Group Holdings Limited ("China Rongsheng Heavy Industries" or the "Group"; stock code: 01101.HK), a large heavy industries group in China, has signed a shipbuilding contract for a series of
64,000 DWT bulk carriers with a European shipowner. The shipbuilding contract will increase the total number of vessels involved between the two parties to 36. Including options, the shipbuilding contract is worth approximately USD1 billion.
The shipbuilding contract involves not more than 36 of 64,000 DWT bulk carriers, which consist of 24 confirmed orders and 12 options. Among the 24 confirmed orders, 18 of them are existing orders with better contractual terms after renegotiation, while the remaining 6 are new orders. These vessels are scheduled to be delivered within the next three years. The 64,000 DWT bulk carrier is the smallest bulk carrier ever built by the Group in terms of its tonnage.

Mr. Chen Qiang, chairman of the board of directors, executive director and chief executive officer, said, "In view of the current market condition, we will maximize sales efforts to and secure additional orders, and pursue better payment terms of certain existing orders."

Besides, on top of the 3 Panamax bulk carriers delivered earlier this year, the Group has just delivered its first 157,000 DWT Suezmax tanker, which has been upgraded and optimized from the previous 156,000 DWT Suezmax tanker, in early May.

~ End ~

About China Rongsheng Heavy Industries Group Holdings Limited

China Rongsheng Heavy Industries Group Holdings Limited and its subsidiaries are a leading diversified large heavy industries group in China. Our headquarters is located in Hong Kong, with manufacturing bases in Nantong (Jiangsu Province) and Hefei (Anhui Province). Rongsheng Offshore & Marine was established in Singapore to promote our offshore engineering business. Our business segments include shipbuilding, offshore engineering, marine engine building and engineering machinery. According to Clarkson Research, China Rongsheng was the largest non-state-owned shipbuilder in the PRC in terms of orders on hand measured by DWT as at the end of December 2013. The Group operates the largest shipyard in the PRC and is a global leader in the manufacture of very large ore carriers.

~END~

CHINA RONGSHENG HEAVY INDUSTRIES

SIGNS SHIPBUILDING CONTRACT FOR 64,000 DWT BULK CARRIERS

18 May 2014 / Page 2

For press enquiries: China Rongsheng Heavy Industries Group Holdings Limited

Mr. Michael Cheng Tel: (852) 3900 1822 Email: michaelcheng@rshi.cn

FleishmanHillard
distributed by