COSCO Ports (Tianjin) Limited agreed to acquire an additional 34.99% stake in Tianjin Port Container Terminal Co.,LTD. from Tianjin Port Co., Ltd. (SHSE:600717) for CNY 1.3 billion on February 26, 2021. The consideration amount is subject to adjustments. As per the terms, within 15 working days from the delivery date, COSCO Shipping Ports (Tianjin) Co., Ltd. will make a one-time payment. Post completion, COSCO Ports (Tianjin) Limited and Tianjin Port Co., Ltd. will hold 45% and 41.69% stake in Tianjin Port Container Terminal Co.,LTD. In related transition, an unknown buyer agreed to acquire COSCO SHIPPING Ports (Tianjin Euroasia) from COSCO SHIPPING Ports Limited (SEHK:1199). The final consideration will be funded by internal resources of COSCO SHIPPING Ports Limited. As of July 28, 2021, Cosco Shipping Ports entered into a supplemental agreement to confirm that the final consideration for the acquisition shall be CNY 1.2 billion.

Tianjin Port Container Terminal Co.,LTD. reported net asset value of CNY 3.4 billion and total assets of CNY 4.1 billion as of September 30, 2020. The transaction is subject to:- (a) COSCO SHIPPING Ports (Tianjin) and Tianjin Port Holdings having signed the supplemental agreement, (b) the parties having obtained their respective internal and external approvals in respect of the signing and implementation of the TCT Equity Transfer Agreement pursuant to their constitutional documents and applicable laws; (c) Tianjin Port Development having complied with all applicable laws and regulations in respect of the acquisition and related matters (including the obtaining necessary shareholders' approval at a general meeting pursuant to applicable requirements under the Listing Rules); (d) China Merchants International Terminals (Tianjin) Limited and China Shipping Terminal Development Co., Ltd. having agreed in writing to the acquisition and to waive or is deemed to have waived the right of first refusal; (e) Tianjin Port Container Terminal having obtained relevant internal approvals for the acquisition in accordance with its articles of association and applicable laws; (f) the acquisition having been approved by competent State-owned assets regulatory authorities or its authorized departments; (g) the Tianjin Euroasia equity transfer agreement having been signed and (h) the anti-monopoly law enforcement authorities having approved the concentration of business operators in respect of the acquisition. The transaction has been approved in the 16th Extraordinary Meeting of the Tianjin Port Co., Ltd's 9th Directorate held on February 26, 2021. As of August 13, 2021, the shareholders of Tianjin Port approved the acquisition. As of October 29, 2021, transaction is expected to be completed in year 2021.

COSCO Ports (Tianjin) Limited completed the acquisition of a 34.99% stake in Tianjin Port Container Terminal Co.,LTD. from Tianjin Port Co., Ltd. (SHSE:600717) on December 3, 2021. Following completion of the acquisition, COSCO SHIPPING Ports Limited through its wholly-owned subsidiaries, holds 51% equity interests in TCT and Tianjin Port owns 41.69% equity interests in TCT.