QHD PORT (03369.HK): Proposes A-Share and Cash Purchase of Four Caofeidian Port Stakes; A Shares Suspended

NewTimeSpace News: On 20 October 2026, Qinhuangdao Port Co., Ltd. (the "Company") announced that on 20 October 2026 it entered into an equity acquisition letter of intent with Hebei Port Group Co., Ltd. ("Hebei Port Group"), under which the Company proposes to acquire, by issuing A shares and paying cash, Hebei Port Group's 25% equity interest in Tangshan Caofeidian Industrial Port Co., Ltd., 24% in SDIC Caofeidian Port Co., Ltd., 28.2328% in Huaneng Caofeidian Port Co., Ltd. and 6% in Tangshan Caofeidian Coal Port Co., Ltd. The consideration will be determined by negotiation between the parties on the basis of an appraisal report issued by a qualified asset appraisal institution in compliance with the PRC Securities Law and filed with the competent authority; the specific terms will be set out in a formal agreement to be signed separately.

The announcement disclosed that Hebei Port Group is a limited liability company established in China on 28 August 2002, a provincial state-owned enterprise in Hebei whose main businesses cover port operations, modern logistics, investment operations and park economy; it is the controlling shareholder of the Company, directly holding 58.27% as of the announcement date. The proposed acquisition is to be funded by issuing A shares and paying cash, with supporting funds raised concurrently in the A-share market; it remains at a preliminary planning stage with uncertainty, and the specific transaction structure will be subject to subsequent announcements, and the letter of intent may or may not lead to any definitive agreement.

The Company stated that, if implemented, the proposed acquisition may constitute a major transaction and a connected transaction of the Company under the Hong Kong Listing Rules, and is not expected to constitute a major asset restructuring under the CSRC's Administrative Measures for Major Asset Restructurings of Listed Companies. As the acquisition is still at the planning stage and subject to uncertainty, to ensure fair disclosure, protect investors' interests and avoid a material impact on its A-share price, the Company's A shares (short name: Qinhuangdao Port; stock code 601326) will be suspended from trading on the Shanghai Stock Exchange from the opening of the market on 21 October 2026 for an expected period of no more than ten SSE trading days; its H shares listed on the Stock Exchange will continue to trade during the A-share suspension. The Company will make further announcements and apply to resume A-share trading in due course.