LIAONING PORT (02880.HK): Wholly-Owned Subsidiary Acquires Container Ship "Jifa Beihai" for RMB 81.61 Million, a Connected Transaction

NewTimeSpace News: On 18 September 2026, Liaoning Port Co., Ltd. (stock code: 02880) announced that its wholly-owned subsidiary Dalian Jifa Bohai Rim Container Transportation Co., Ltd. (DBR) entered into a ship purchase contract with Dalian Port Wantong Logistics Co., Ltd. to purchase the container ship "Jifa Beihai" at a consideration of RMB 81,613,572.00.

The consideration comprises RMB 72,224,400.00 excluding tax and value-added tax of RMB 9,389,172.00 at a rate of 13%, and was determined after arm's length negotiation by reference to the independent valuer's valuation of the ship at RMB 72,224,400 using the cost approach, with a valuation date of 31 October 2025. Ownership of the ship will be formally transferred to DBR upon completion, and the total consideration is expected to be funded mainly from the Group's internal resources. The "Jifa Beihai" is a container ship completed in 2018, with a gross tonnage of 15,534 and a main engine power of 4,560 KW, and contributed profit attributable to the ship (before and after tax) of RMB 4.14 million in 2024 and RMB 2.45 million in 2025.

As Wantong Logistics is a wholly-owned subsidiary of Liaoning Port Group, the Company's indirect controlling shareholder, it is a connected person of the Company and the transaction under the ship purchase contract constitutes a connected transaction. On an aggregated basis with the previous transactions under Rules 14A.81 to 14A.82 of the Listing Rules, one or more applicable percentage ratios exceed 0.1% but all are below 5%, so the acquisition is subject to the reporting and announcement requirements but exempt from the circular and independent shareholders' approval requirements. The Company said the Jifa Bohai, DBR's only vessel qualified for inter-provincial ordinary cargo ship transportation, is about to be transferred out, and the ship must be acquired within the six-month regulatory buffer period to meet the minimum owned tonnage requirement for the qualification.

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