On the evening of August 21, Xiamen Port Development Co., Ltd. (hereinafter referred to as “Xiamen Port”, 000905) issued the “Announcement on Obtaining Approval from the Fujian Provincial SASAC for the Major Asset Reorganization Matter”.
Previously, Xiamen Port announced its plan to acquire a 70% equity stake in Xiamen Container Terminal Group Co., Ltd. held by Xiamen International Port Co., Ltd. (hereinafter referred to as “International Port”) by issuing shares and paying cash, and to issue shares to no more than 35 qualified specific investors to raise supporting funds, with a transaction value of approximately 6.178 billion yuan.
Recently, Xiamen Port received a forwarded document from its controlling shareholder, the “Reply of the Fujian Provincial State-owned Assets Supervision and Administration Commission on Matters Related to the Implementation of the Major Asset Reorganization Plan by Xiamen Port Development Co., Ltd.” (Min Guo Zi Chan Quan Han [2025] No. 164) issued by the Fujian Provincial People’s Government State-owned Assets Supervision and Administration Commission, which in principle approves the overall plan of this reorganization.
This reorganization still requires review and approval by the company’s shareholders’ meeting, as well as examination, approval, or registration by the relevant regulatory authorities before it can be formally implemented. There is uncertainty regarding whether this reorganization will obtain the relevant approvals or registrations, as well as the timing of obtaining such approvals or registrations. All relevant information shall be based on the announcements published through the company’s designated information disclosure channels. Xiamen Port will strictly comply with the provisions of relevant laws and regulations to timely fulfill its information disclosure obligations based on the progress of this reorganization. Investors are kindly requested to pay timely attention to the company’s subsequent announcements and be aware of investment risks.
