Tianjin Port subsidiary to sell stake in storage and transport unit

Tianjin Port Holdings announced that its wholly-owned subsidiary, Tianjin Port Logistics Development Co., Ltd., plans to transfer its 60% equity in Tianjin Zhongtie Storage and Transportation Co., Ltd. via public listing on the Tianjin Property Rights Exchange. The assessed value of Zhongtie Storage and Transportation's total shareholder equity is CNY 37.5405 million, with the 60% equity transfer price set at CNY 22.5243 million.

This move, approved by the board of directors, aims to optimize the asset structure, focus on core port loading and unloading logistics, and mitigate investment risks from the coal trade sector. The transaction is expected to improve cash flow, asset-liability structure, and increase the company's gross profit margin by approximately 7.57 percentage points.

The divestment will result in Zhongtie Storage and Transportation no longer being consolidated into Tianjin Port Holdings' financial statements, leading to a corresponding decrease in the company’s operating income and total profit. The final transaction price will be determined by the exchange.