Tianjin Port subsidiary to sell stake in rail logistics firm

Tianjin Port Holdings' wholly-owned subsidiary, Tianjin Port Logistics Development Co., Ltd., will pre-disclose its intention to transfer a 60% equity stake in Tianjin Zhongtie Storage and Transportation Co., Ltd. This move aims to sharpen the company’s focus on its core loading and unloading logistics business, mitigate investment risks, and optimize resource allocation. The pre-disclosure is a procedural step, and the transaction counterparty, final price, and payment terms are yet to be determined.

Zhongtie Storage and Transportation, established in 2004 with a registered capital of CNY1,000 million, engages in warehousing, railway transportation services, and the wholesale and retail of various goods. As of December 31, 2024, its total assets were CNY33,196.03 million, with a 2024 operating income of CNY254,766.03 million and a total profit of CNY30.84 million, as audited.

The divestment aims to reduce the company's commitment to non-core, lower-yield businesses, allowing capital and management resources to be redirected towards enhancing and expanding core loading and unloading operations. This aligns with Tianjin Port Holdings’ broader goal of becoming a world-class green and intelligent hub port, improving long-term competitiveness and profitability.