Gelonghui, April 16 | Qingang Co., Ltd. (601326.SH) announced that the holding subsidiary Tangshan Caofeidian Coal Port Co., Ltd. plans to transfer 18.03% of its shares in Tangshan Port Caofeidian Tug Co., Ltd. (“Cao Tow Boat Company”) to Hebei Port Group Co., Ltd., the controlling shareholder of the Company, and the Company plans to transfer assets related to the Company's shipping branch (“Shipping Company”) to Qinhuangdao Zhiyuan Shipping Co., Ltd., a wholly-owned subsidiary of Hebei Port Group, by means of a non-disclosure agreement.
The deal will sell out all of the company's tugboat business, and the company and Hebei Port Group will no longer compete in the tugboat business. After the completion of this transaction, Hebei Port Group integrated the resources of various business entities in the tugboat sector and implemented unified planning and operation for the tugboat business needs in each port area, which can greatly improve the efficiency of the tugboat business operation and help to better serve the main port business of listed companies.