Tianjin Port Development's subsidiary plans to publicly list and sell a 60% stake in China Railway Storage and Transportation
The subsidiary of Tianjin Port Development plans to publicly list the 60% equity it holds in China Railway Storage and Transportation at the Tianjin Property Rights Exchange Center. This move aims to help the group focus on its core business, enhance competitiveness in areas such as port loading and logistics, align with the group's overall development plan, and promote long-term profit quality
According to the Zhitong Finance APP, Tianjin Port Development (03382) announced that its subsidiary, Logistics Development, intends to sell its 60% stake in China Railway Storage and Transportation through a public listing at the Tianjin Property Exchange Center.
As of the date of this announcement, Logistics Development holds a 60% stake in China Railway Storage and Transportation. The potential sale is beneficial for the group to focus on its core business, directing management resources and operational focus towards core areas such as port loading and unloading logistics, further enhancing the core competitiveness and sustainable operational quality of its main business, assisting the group in accelerating the construction of a world-class green smart hub port, improving long-term core competitiveness and profit quality, and aligning with the group's overall development plan as well as the overall interests of the company and its shareholders
