Xiangyu Logistics sees investor changes in debt-to-equity swap

Xiamen Xiangyu announced that its subsidiary, Xiangyu Logistics Group Co., Ltd., which implemented a market-oriented debt-to-equity swap in August 2022, has seen changes in its investor base. China Everbright Assets Management Co., Ltd. (BOC Assets) and China Orient Asset Management Co., Ltd. (Orient Assets) have exited their investments as agreed. Xiamen Xiangyu repurchased their respective 6.07% and 3.04% equity stakes for 1.021 bn yuan and 510 m yuan.

Bank of Communications Financial Asset Investment Co., Ltd. (BOCOM Investment), however, has opted to extend its investment for an additional three years, maintaining its 6.07% equity holding in Xiangyu Logistics. Following these transactions, Xiamen Xiangyu's ownership in Xiangyu Logistics has increased from 84.8142% to 93.9257%.

The company states that these moves align with the initial agreements from August 2022 and are not expected to adversely affect Xiamen Xiangyu's operations or shareholder interests.