BINHAI TEDA Logistics: Termination of the construction of the TEDA Green Smart Logistics Supply Chain Industrial Park project
BINHAI TEDA Logistics announced the termination of the construction of the TEDA Green Smart Logistics Supply Chain Industrial Park project due to changes in market demand. The group will allocate resources to more profitable projects. After the termination, the wholly-owned subsidiary will renovate the site and continue operations. The board of directors believes that this decision will not have a significant adverse impact on financial performance and business operations, and is in line with the overall interests of the group and its shareholders
According to the announcement from Binhai Teda Logistics (08348), considering the changes in market demand, the group plans to allocate resources to other more profitable potential projects to improve asset yield levels. Therefore, the company has decided to no longer continue to advance this project. After terminating the project, the company's wholly-owned subsidiary Tianjin Yuanda Modern Logistics Co., Ltd. will renovate the relevant site and continue operations.
The board of directors believes that terminating this project will not have a significant adverse impact on the group's financial performance and business operations, and is in line with the overall interests of the group and the company's shareholders
