Recently, Centre Testing International Group Co., Ltd. (hereinafter referred to as CTI, stock code 300012) announced the successful signing of a Share Purchase Agreement for the acquisition of the Company NAIAS SCIENTIFIC ANALYTICAL LABORATORIES SOCIETE ANONYME (hereinafter referred to as NAIAS LABS) in Greece, aiming to acquire 100% of NAIAS LABS's shares. This move is intended to further enhance CTI's strategic layout in the global shipping green energy sector.

Established over 30 years ago and headquartered in Piraeus, Greece, NAIAS LABS provides advanced technical services globally to the international shipping, oil and other industrial sectors, covering quality testing and quantity inspection. Its services include testing of marine biofuels, fuel oils, lubricants, environmental water, as well as cargo audit and inspection. To date, NAIAS LABS has provided quality testing services for over 1,800 ocean-going vessels, issuing more than one million analytical reports and conducting over 1,000 survey records annually.

In the context of the approaching global decarbonization agenda, the shipping industry is facing heightened demands for green fuels, operational environmental compliance, verification, and quality certification. As a leading third-party testing and certification service provider in China, CTI recognized this development opportunity early on, acquiring Singapore's MARITEC in 2020 to enter the international marine fuel testing market. Four years later, CTI is once again making a strategic move with the full acquisition of Greece's NAIAS, marking another solid step in the global shipping green energy sector. In this regard, Mr. Richard Shentu, the CEO of CTI Group, stated: “The International Maritime Organization (IMO) has set clear decarbonization targets for the global shipping industry: a 20%-30% reduction in carbon emissions by 2030, and a 70%-80% reduction by 2040. Green alternative energy, particularly low-carbon intensity shipping energy throughout its lifecycle, will play an important role to achieve these targets. Our clients will face various challenges regarding regulations, standards, procurement, production, transportation, certification and usage. This acquisition further strengthens CTI Marine's  global technical service network and service capabilities to provide clients with comprehensive services including standard consulting, testing, inspection and technical validation, ensuring the success of their energy transition.”

The acquisition is expected to be completed in the fourth quarter of 2024.