SINOTRANS (00598.HK): Enters Concert Party Agreement with Sinotrans Container Lines on Decisions of Antong Holdings

NewTimeSpace · 2026/08/28 18:03 · By Zeyu Wu

NewTimeSpace News: On 28 August 2026, SINOTRANS (00598.HK) announced that it had entered into a concert party agreement with Sinotrans Container Lines to act in concert on decisions of Antong Holdings; the Company and Sinotrans Container Lines hold approximately 3.98% and 14.94% of Antong Holdings respectively, and the arrangement constitutes a connected transaction with a percentage ratio above 0.1% but below 5%, exempt from independent shareholders' approval.

NewTimeSpace News: On 28 August 2026, Sinotrans Limited (stock code: 00598) announced that the Company had entered into a concert party agreement with Sinotrans Container Lines, agreeing to act in concert in respect of the decisions of Antong Holdings.

As of the date of the announcement, the Company directly holds 168,608,029 ordinary shares of Antong Holdings, representing approximately 3.98% of its issued shares, while Sinotrans Container Lines directly holds 632,248,198 shares, representing approximately 14.94%. The concert party arrangement mainly covers the exercise of proposal rights, director nomination rights and voting rights in concert, without transferring dividends or other economic interests; Antong Holdings will continue to be accounted for as an investment in other equity instruments, and the Company will not receive any cash inflow from the arrangement.

As Sinotrans Container Lines is a subsidiary of China Merchants Group, the ultimate controlling shareholder, the concert party agreement constitutes a connected transaction. As the highest applicable percentage ratio exceeds 0.1% but is below 5%, the arrangement is subject to the reporting, announcement and annual review requirements but is exempt from independent shareholders' approval. The directors consider that the concert party arrangement is fair and reasonable and in the interests of the Company and its shareholders as a whole.

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Sinotrans 00598.HK Concert Party Arrangement