LIAONING PORT (02880.HK): Applies to DCE for iron ore designated delivery warehouse and bonded delivery warehouse qualifications
NewTimeSpace News: On 28 August 2026, Liaoning Port Co., Ltd. (stock code: 02880) announced that the Company proposes to apply to the Dalian Commodity Exchange (DCE) for two types of qualifications — a designated iron ore duty-paid delivery warehouse and a designated iron ore bonded delivery warehouse — with its wholly-owned branch, Dalian Port Bulk Cargo Terminal Branch, responsible for daily warehouse operations, forming a dual-track model of "duty-paid domestic delivery plus bonded cross-border delivery".
According to the announcement, in February 2016, Dalian Port Bulk Logistics Center Co., Ltd. (a 40%-owned joint venture of the Company) was designated by the DCE as an iron ore bonded delivery warehouse; however, as its registered capital of only RMB 10 million did not meet the DCE's hard admission standard of net assets of no less than RMB 1 billion for delivery warehouses, the DCE suspended its delivery business on 16 January 2026, leaving the Company's port area without a compliant iron ore futures delivery vehicle. The applicant in this application is the Company itself, whose net assets, registered capital and compliance record satisfy the DCE's hard financial and entity requirements; the terminal has specialized deep-water iron ore berths, contiguous dedicated ore storage yards, standardized weighing and quality inspection equipment, a complete road-rail collection and distribution system and an independent customs bonded quarantine zone, with years of operational experience in iron ore stockpiling and bonded blending.
Project revenue mainly comprises three parts: standard iron ore warehousing fees set by the DCE; special delivery operation service fees for futures inbound, outbound and re-stacking; and incremental spot business revenue from ore handling and stockpiling attracted by the delivery qualification. The Company noted that obtaining both qualifications will complete a complementary and coordinated layout of bulk commodity delivery business across the Yingkou and Dalian port areas, create an exclusive integrated service model of "deep-water berths plus bonded blending plus futures delivery", revitalize existing terminal assets and serve the regional steel industry chain.
The matter was considered and approved at the second meeting of the eighth session of the Board in 2026 (8 votes in favor, 0 against, 0 abstentions), and does not require shareholders' meeting approval. The announcement cautioned that the qualification application requires DCE document review, on-site inspection and final approval, with uncertainty as to whether the delivery qualifications can be obtained; if regional iron ore futures trading activity is low and delivery inbound volumes are insufficient, warehousing and delivery value-added revenue may fall short of expectations.
NewTimeSpace Disclaimer: All content herein is the original work of NewTimeSpace. Any reproduction, reprinting, or use of this content in any other manner must clearly indicate the source as "NewTimeSpace". NewTimeSpace and its authorized third-party information providers strive to ensure the accuracy and reliability of the data, but do not guarantee the absolute correctness thereof. This content is for reference only and does not constitute any investment advice. All transaction risks shall be borne by the user.
