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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Sinotrans Limited    598   CNE1000004F1

SINOTRANS LIMITED

(598)
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Sinotrans : UPDATE ON THE CONNECTED TRANSACTION-ACQUISITION OF ALL EQUITY INTERESTS OF KEPPEL LOGISTICS (FOSHAN) CO., LTD.

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11/06/2019 | 04:20am EDT

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liabilities whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(A joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock Code: 0598)

UPDATE ON THE CONNECTED TRANSACTION -

ACQUISITION OF ALL EQUITY INTERESTS OF KEPPEL

LOGISTICS (FOSHAN) CO., LTD.

Reference is made to the announcement of Sinotrans Limited (the "Company") dated 27 September 2019 (the "Announcement") in relation to, among other things, the proposed acquisition of 70% equity interests of Keppel Foshan by Sinoway Shipping contemplated under the Keppel Foshan SPA 1 with KTT on 27 September 2019 and the proposed acquisition of 30% equity interests of Keppel Foshan by Sinotrans South China contemplated under the Keppel Foshan SPA 2 with Sinotrans Guangdong on the same day. Unless otherwise defined herein, capitalized terms used in this announcement have the same meaning as defined in the Announcement.

The Board is pleased to announce that as of the date of this announcement, business registration in relation to the share transfer of Keppel Foshan under the Keppel Foshan SPA 1 and the Keppel Foshan SPA 2 has been completed. Therefore, Sinotrans South China has owned 100% equity interests of Keppel Foshan (including the 30% equity interests directly held by it and the 70% equity interests indirectly held through Sinoway Shipping) and Keppel Foshan has become an indirect wholly-owned subsidiary of the Company.

By order of the Board

Sinotrans Limited

Li Shichu

Joint Company Secretary

Beijing, 6 November 2019

1

As at the date of this announcement, the board of directors of the Company comprises Li Guanpeng (Chairman), Song Dexing (Vice Chairman), Song Rong (executive director), Su Jian (non-executive director), Xiong Xianliang (non-executive director), Jiang Jian (non-executive director), Jerry Hsu (non-executive director), and four independent non-executive directors, namely Wang Taiwen, Meng Yan, Song Haiqing and Li Qian.

2

Disclaimer

Sinotrans Limited published this content on 06 November 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 November 2019 09:19:15 UTC

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Financials (CNY)
Sales 2019 79 209 M
EBIT 2019 2 957 M
Net income 2019 2 607 M
Finance 2019 3 104 M
Yield 2019 6,08%
P/E ratio 2019 4,71x
P/E ratio 2020 4,44x
EV / Sales2019 0,24x
EV / Sales2020 0,28x
Capitalization 21 800 M
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Mean consensus BUY
Number of Analysts 10
Average target price 3,00  CNY
Last Close Price 1,64  CNY
Spread / Highest target 191%
Spread / Average Target 82,9%
Spread / Lowest Target 16,8%
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Managers
NameTitle
Rong Song General Manager & Executive Director
Guan Peng Li Chairman
Ying Jie Liu Chairman-Supervisory Board
Jiu Yun Wang Chief Financial Officer
Xiang Gao Chief Information Officer
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