Liaoning Port's indirect shareholder undergoes internal equity restructuring

Liaoning Port Co. Ltd. (SSE:601880) has announced a change in the upper-tier equity structure of its indirect controlling shareholder, Liaoning Port Group Co. Ltd. The restructuring involves China Merchants Port Holdings (Shenzhen) Co. Ltd. (CMPort Tongtong) absorbing Dalian Port (Liaoning) Port Development Co. Ltd. (CMPort Liaoning) through a merger. CMPort Tongtong, currently holding 100% of CMPort Liaoning, will continue to exist, while CMPort Liaoning will be deregistered.

Following the merger, CMPort Tongtong will directly hold 51% of Liaoning Port Group Co. Ltd.'s equity, along with all other assets, liabilities, and claims previously held by CMPort Liaoning. The company stated this will not alter Liaoning Port Co. Ltd.'s direct controlling shareholder, Yingkou Port Group Co. Ltd., or its indirect controlling shareholder, Liaoning Port Group Co. Ltd., nor will it affect China Merchants Group as the ultimate actual controller.

The company emphasized the change is an internal optimization by China Merchants Group to streamline its equity structure and improve management efficiency. It will not trigger a tender offer and is not expected to have a material impact on Liaoning Port Co. Ltd.'s operations.