Jiangsu Lianyungang Port Co., Ltd. (SHSE:601008) signed an equity transfer agreement to acquire additional 25% stake in Lianyungang Ferry Co., Ltd. from South Korea Xingya Shipping Co., Ltd. for CNY 1.3 million on March 26, 2020. In a related transaction, Jiangsu Lianyungang Port Co., Ltd signed an agreement to acquire 25% stake in Lianyungang China-Korean Ferry Co., Ltd. from South Korea Xingya Shipping Co., Ltd. for CNY 31.4 million on March 26, 2020. As of December 31, 2019, Lianyungang Ferry reported revenue of CNY 11.5 million, net profit of CNY 0.16 million, total assets of CNY 16.9 million and net assets of CNY 3.49 million. The transaction is subject to the relevant reporting and registration procedures of government departments such as state-owned assets, commerce, development reform, foreign exchange, industry and commerce. The transaction was approved by the board of directors of Jiangsu Lianyungang Port on the twenty-eighth meeting of the sixth directorate held on March 26, 2020. On September 22, 2020, Jiangsu Lianyungang Port Co., Ltd. received "Enterprise Overseas Investment Certificate" issued by the Jiangsu Provincial Department of Commerce and the "Overseas Investment Record Form" issued by the Lianyungang Municipal Bureau of Commerce. Jiangsu Lianyungang Port Co., Ltd. (SHSE:601008) completed the acquisition of additional 25% stake in Lianyungang Ferry Co., Ltd. from South Korea Xingya Shipping Co., Ltd. on December 24, 2020. Lianyungang Ferry Co., Ltd. already obtained the Certificate of Registration of a Foreign-Invested Enterprise issued by Korea Trade-Investment Promotion Agency.