Yuanhang Port (08502) issued an announcement. On December 29, 2023 (after the Stock Exchange trading session), Chizhou...
According to Zhitong Finance App, Yuanhang Port (08502) issued an announcement. On December 29, 2023 (after the trading session of the Stock Exchange), Chizhou Port Holdings (a subsidiary of the company with an indirect interest of 72%) entered into a joint venture agreement with a joint venture partner. Based on this, the contracting parties agreed to establish a joint venture with a registered capital of RMB 100 million. After establishment, the joint venture will be owned by Chizhou Port Holdings, joint venture partner I Chizhou Asset Management Group Co., Ltd., and joint venture partner II Anhui Pingtianhu Investment Holding Group Co., Ltd. respectively.
According to the announcement, the establishment of a joint venture company and cooperation with partners in the joint venture agreement will help the Group seize the opportunities brought by the development of Jiangkou Wharf Phase IV to promote the multimodal transport demonstration project. Thus, the group can obtain the operating advantage of the Chizhou Public Port and enhance its status in the central port area of Jiangkou. Furthermore, it will provide a more complete investment promotion platform for the development of Chizhou city and promote the development of the mining industry in Chizhou. Related developments will benefit the long-term operation and development of the Group's Chizhou port business. The Group will be able to enhance its competitiveness in the inland port operator market in Chizhou, Anhui Province, China.