SIPG to invest 2 bn yuan in new state-backed holding company

Shanghai International Port Group (SIPG) plans to invest 2 billion yuan of its own funds to co-establish Shanghai Guomao Holding Co., Ltd. with Shanghai International Group Co., Ltd. (SIG) and other state-owned enterprises. This joint investment will result in SIPG holding a 15.38% stake in Shanghai Guomao. The transaction constitutes a related-party transaction due to SIG's participation, as SIG is a related legal person to SIPG.

The new entity, Shanghai Guomao, will have a registered capital of 13 billion yuan and its business scope includes investment activities, investment management, and information consulting. SIPG's investment will be made in two installments of 1 billion yuan each in 2025 and 2026. The transaction has been approved by SIPG's board of directors and independent directors, with related directors abstaining from the vote.

This investment aims to leverage SIPG's port resources and logistics supply chain to enhance its role in the Shanghai International Shipping Center and expand value-added services. The company notes that Shanghai Guomao is still in the preparatory phase, and its future operations may face uncertainties from macroeconomic conditions, industry policies, and operational management.