Hong Kong, 28 September 2026—Da Ming International Holdings Limited (DA MING INT'L) announced that its indirect wholly-owned subsidiary, Daming Heavy Industry Co., Ltd., has received an unfavourable final award from the Arbitration Institute of the Finland Chamber of Commerce concerning defective pressure vessels supplied to a European customer.

Key points of the award

1. Compensation for losses and expenses: EUR 6.47 million. 2. Accrued default interest (calculated to 30 June 2026): EUR 1.32 million, with additional interest on the principal amount accruing from 1 July 2026 until full payment. 3. Arbitration costs: • Tribunal and institute fees: EUR 0.43 million. • Claimant’s legal representation: EUR 1.81 million, SEK 0.24 million and GBP 0.11 million. • Reimbursement of filing fee and advances: EUR 0.22 million. • All amounts carry late-payment interest starting 30 days after the award date.

Total quantified financial exposure specified in euros reaches approximately EUR 10.25 million, excluding future interest and the SEK and GBP components.

Background of the dispute

• Contract origin: Pressure vessels sold on 8 July 2020 by Daming Heavy Industry to the claimant were produced in China and shipped in nine sections to Finland. • Defect discovery: Hydrostatic testing on 29 May 2022 revealed flange cracks and leakage; subsequent tests through March 2023 identified further flaws. • Arbitration timeline: Claim notice on 2 March 2023 (claim > EUR 5 million) followed by a request for arbitration on 23 September 2024. • Prior disclosures: The company’s PRC legal adviser previously estimated potential liability at up to EUR 2.00 million (March 2025) and EUR 0.87 million if Daming handled repairs (March 2026). No provision for the dispute was recognised in the 2024 and 2025 consolidated financial statements, although RMB 11 million was provided for related receivables as at 31 December 2024, and the matter was disclosed as a contingent liability in the 2025 annual report.

Post-award actions and outlook

Daming Heavy Industry filed a post-award request for clarification and correction on 26 August 2026; the tribunal rejected this request on 25 September 2026 and imposed additional fees of EUR 9,359.72 plus EUR 4,700 in supplementary advances, both accruing statutory interest. The company is currently seeking legal advice on the possibility of applying to set aside the award.

Shareholders and potential investors are advised to monitor subsequent disclosures for further developments in this matter.