cosco shipping holdings (01919) announced that on December 6, 2024, the company established a capital increase agreement and shareholder agreement with angji logistics, shanghai international port, and existing shareholders of angji logistics. According to the capital increase agreement, the company and shanghai international port agreed to invest 1 billion yuan (approximately 1.083 billion hong kong dollars) respectively in accordance with the terms and conditions of the capital increase agreement, and subscribe for an additional registered capital of 75 million yuan (approximately 81.2392 million hong kong dollars) of angji logistics. Before the completion of the capital increase, the group did not hold any shares of angji logistics. After the completion of the capital increase, the group will hold 10% of angji logistics shares, and angji logistics will not become a subsidiary of the company, and its financial statements will not be consolidated into the group's financial statements.
The announcement stated that the company is positioned as a global digital supply chain operation and investment platform with a core focus on container shipping, dedicated to providing customers with a full-link solution of "container shipping + ports + related logistics services," with the fleet size continuing to rank among the top tier of the industry. SAIC Group is a leading auto enterprise in China, and its wholly-owned subsidiary, angji logistics, is a leading global auto logistics company and one of the first domestic 5A-level logistics companies.
This capital increase will help deepen the cooperation between the company and angji logistics in the field of auto transportation, assisting the deep integration development of advanced manufacturing and modern service industries; it aligns with the company's positioning and long-term development strategy, and helps the company further extend and develop end-to-end full-link services, creating a safer and more resilient globalized, digitalized container supply chain for customers.
