Jiangsu Lianyungang Port Co., Ltd. entered into equity transfer agreement to acquire a 25% stake in Lianyungang China-Korea Ferry Co., Ltd. from South Korea Xingya Shipping Co., Ltd. for CNY 31.4 million.
March 26, 2020
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Jiangsu Lianyungang Port Co., Ltd. (SHSE:601008) entered into equity transfer agreement to acquire a 25% stake in Lianyungang China-Korea Ferry Co., Ltd. from South Korea Xingya Shipping Co., Ltd. for CNY 31.4 million on March 26, 2020. In related transaction, Jiangsu Lianyungang Port Co., Ltd. entered into equity transfer agreement to acquire an additional 25% stake in Lianyungang Ferry Co., Ltd. from South Korea Xingya Shipping Co., Ltd. on March 26, 2020. Lianyungang China-Korea Ferry Co., Ltd. reported revenue of CNY 227.1 million, net profit of CNY 1.23 million, total assets of CNY 496.4 million and net assets of CNY 108.4 million as of December 31, 2019. 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.
Jiangsu Lianyungang Port Co.,Ltd. is a China-based company principally engaged in the loading and unloading of cargos, stockpiling business, as well as port management business. The Company deals with coals, cokes, iron ores, nonferrous metal ores, laterite-nickel ores, aluminum oxides, grains, glued boards, machineries and equipment, steels and others. The Company operates its businesses primarily in Lianyungang, Jiangsu Province, China.
Jiangsu Lianyungang Port Co., Ltd. entered into equity transfer agreement to acquire a 25% stake in Lianyungang China-Korea Ferry Co., Ltd. from South Korea Xingya Shipping Co., Ltd. for CNY 31.4 million.
JIANGSU LIANYUNGANG PORT CO., LTD. 
