CMPort plans to establish a joint venture company to invest in the CMPort Zhanjiang Chemical Logistics Hub Project

According to the Zhitong Finance APP, CMPort (001872.SZ) announced that in order to improve the storage and transportation functions of chemical products at Zhanjiang Port and to meet the local customers' chemical storage and transportation needs, the company’s holding subsidiary Zhanjiang Port (Group) Co., Ltd. (hereinafter referred to as "Zhanjiang Port Group") plans to establish a joint venture with related parties Sinotrans Chemical International Logistics Co., Ltd. (hereinafter referred to as "Sinotrans Chemical") and China Sinotrans South China Co., Ltd. (hereinafter referred to as "Sinotrans South China") to set up "Zhanjiang Sinotrans Chemical International Logistics Co., Ltd." (tentative name, subject to the final name registered by the market supervision and administration department, hereinafter referred to as "Zhanjiang Sinotrans" or "joint venture company"), to jointly invest in the construction of the CMPort Zhanjiang Chemical Logistics Hub project.

After the establishment of Zhanjiang Sinotrans, Zhanjiang Port Group intends to transfer the state-owned land use rights of 79,869.16 square meters located on the south side of Jinxiu Avenue, west side of Baojiang Road, and north of Haigang Road in the Xiashan District of Zhanjiang City (the corresponding land use rights certificate number is Yue (2021) Zhanjiang City Real Estate No. 0001628, hereinafter referred to as "target asset") to Zhanjiang Sinotrans through an agreement. Zhanjiang Sinotrans will use this land and the land contributed by Zhanjiang Port Group (the two plots of land are adjacent) to construct the CMPort Zhanjiang Chemical Logistics Hub project. The sale price of the target asset is 43.9727 million yuan