Ningbo Zhoushan Port acquires terminal to resolve competition

Ningbo Zhoushan Port Co. announced its plan to acquire 100% equity of Zhoushan Port Comprehensive Bonded Zone Terminal Co. from its controlling shareholder, Ningbo Zhoushan Port Group Co., for 705,970,273.69 yuan in cash. This transaction addresses a commitment made by the controlling shareholder in 2020 to transfer the terminal's equity to the listed company or an unrelated third party by December 31, 2025, to avoid competition.

The acquisition price represents a premium of 127,281,822.03 yuan, or 21.99%, over the terminal's owner's equity book value of 578,688,451.66 yuan as of September 30, 2025. This valuation is based on an appraisal by Wanbang Asset Appraisal Co. The terminal, established in 2014, specializes in bulk, general cargo, and container handling, operating with existing 30,000-ton and 50,000-ton berths.

Upon completion, Zhoushan Port Comprehensive Bonded Zone Terminal will become a wholly-owned subsidiary of Ningbo Zhoushan Port, integrating its operations into the broader provincial port system. This is expected to enhance port synergy, optimize operational efficiency, and strengthen the company's overall financial performance and competitive edge in the Yangtze River region.