According to the announcement by Shanghai Lingang Holdings (600848.SH) on the Intellectual Financial APP, the company plans to transfer 94.72% equity of Shanghai Free Trade Zone United Development Co., Ltd. (referred to as 'FTZ Development') to Shanghai Lingang Modern Logistics Economic Development Co., Ltd. (referred to as 'Lingang Logistics') at a price of 1.386 billion yuan.

It is reported that FTZ Development was established in December 2005, mainly responsible for the development of the mainland part of Yangshan Special Comprehensive Bonded Zone. This area is located within the physical perimeter of the customs special supervision in the Yangshan Special Comprehensive Bonded Zone of China (Shanghai) Pilot Free Trade Zone. FTZ Development currently has a registered capital of 631.096146 million yuan, with the company holding 94.72% equity of FTZ Development. The purpose of this transaction is to further promote the aggregation of high-quality resources to the technology innovation field, improve the efficiency of innovation factor allocation, focus on the three leading industries of integrated circuits, biomedical, artificial intelligence, as well as Shanghai's key industrial sectors, and strive to build a world-class high-tech industrial park. This will accelerate the transformation of listed companies into innovative ecosystem integrators and overall operators in the park, enhance the core competitiveness of the company, and promote high-quality development.