Tianjin Port Holdings expands through two equity acquisitions

Tianjin Port Development Holdings Limited has issued supplemental announcements regarding two separate equity acquisitions. The first acquisition involves a 40% equity interest in Alliance International Co. The total shareholder equity of Alliance International Co as of September 30, 2024, was valued at RMB1,808,285.7 thousand, an increase of RMB342,595.0 thousand over its book value. This appraisal considered current and non-current assets, including various fixed assets and land use rights for warehousing.

Concurrently, Tianjin Port Development Holdings Limited is acquiring a 5% equity interest in Euroasia International Co. For this transaction, the total shareholder equity of Euroasia International Co as of September 30, 2024, was appraised at RMB1,908,065.2 thousand, reflecting an increase of RMB43,309.4 thousand from its book value. The appraisal for Euroasia International Co included inventory and fixed assets, such as port terminal storage facilities and machinery, along with land use rights for warehousing.

Both asset appraisal reports, valid for one year from September 30, 2024, to September 29, 2025, relied on audited financial results and comprehensive on-site inspections. These acquisitions are part of the company's strategy, with the appraised values serving as the basis for determining the consideration.