Cargo Update: Production Update and Remaining Cargo at Tianjin Port

As suggested previously, we revisited the receiver's factory on June 14 and were informed that all the cargo transported from our vessel has been put into production. Currently, several hundred tons are being transported back and produced every day. Fortunately, recent products have passed the required qualifications, and no abnormalities were found during the production process. The receiver mentioned that this could be due to the small proportion of our cargo, making it difficult for them to obtain corresponding samples.

The receiver is currently unable to determine the exact production time of the cargo and did not retain samples of the soybean and its products, making it challenging to calculate the loss of this portion. Additionally, the receiver has not disclosed their approach for calculating the loss. The receiver has informed us that approximately 1400Mt of cargo from our vessel remains at the Tianjin port and will be transported back and consumed within the next five days.

We have compiled the data we collected and attached it for your reference. To facilitate statistical analysis based on production shifts, we calculated the average assay data for each shift and filled it into the table. Please do not hesitate to contact us if you have any questions.