Xingtong Shipping announced that the company has signed a "Joint Venture Contract" with C&D Supply Chain Logistics Technology to jointly establish Shanghai Xingtong Lianfa Shipping Co., Ltd. The registered capital of the joint venture is RMB 256 million, of which Xingtong Shipping contributes RMB 131 million in cash, holding 51% of the shares; C&D Supply Chain Logistics Technology contributes RMB 125 million in cash, holding 49% of the shares. The joint venture has obtained the "Business License" issued by the Market Supervision Administration of Hongkou District, Shanghai
