Gelonghui, May 23, 丨 Qingang Co., Ltd. (03369.HK) announced that on May 23, 2024, in order to better serve the company's main port business, Caofeidian Coal Port (a non-wholly-owned subsidiary of the company) entered into an equity transfer agreement. According to this, Caofeidian Coal Port Services agreed to sell, and Hebei Port Group agreed to acquire the underlying shares (i.e. 18.03% of the shares of the target company Tangshan Port Caodian Tug Co., Ltd.), with a total cash cost of RMB 147 million yuan.

The target company is a limited liability company established in China. Its main business includes: licensing projects: port operation; general waterway cargo transportation; domestic ship management business. General projects: port cargo handling activities; ship leasing; ship towing services. As of the date of this announcement, Tangshan Caofeidian Industrial Port Co., Ltd., Caofeidian Port Group Co., Ltd., China Petroleum & Chemical Corporation, and Caofeidian Coal Port held 40.99%, 22.95%, 18.03% and 18.03% of the shares of the underlying companies, respectively. After the sale of the underlying shares was completed, Tangshan Caofeidian Industrial Port Co., Ltd. (the company held 35% of its shares as of the date of this announcement) continued to hold 40.99% of the underlying company's shares.

After the sale of the underlying shares is completed, the company will sell all of its tugboat business. Hebei Port Group will immediately integrate resources for various business entities in the tugboat sector and implement unified planning and operation for the tugboat business needs in each port area, which can greatly improve the efficiency of the tugboat business operation and help to better serve the company's main port business.