COSCO Shipping Holdings (01919) plans to sell 20.07% equity stake in Ansteel Automobile Transport for 8297.48 million yuan.

COSCO Shipping Holdings (01919) announced that on December 24, 2024, Dalian Jiyun (a wholly-owned subsidiary) entered into a share transfer agreement with China COSCO Shipping Supply Chain. Dalian Jiyun conditionally agreed to sell 20.07% of the equity of Ansteel Auto Transport to China COSCO Shipping Supply Chain for approximately RMB 82.9748 million. Prior to the completion of the share transfer, Dalian Jiyun held a 20.07% stake in Ansteel Auto Transport. After the completion of the share transfer, the group will no longer hold any equity in Ansteel Auto Transport. The announcement stated that Ansteel Auto Transport's main business is the transportation and repair of bulk goods, which has a low degree of association with Dalian Jiyun's main business. This transaction can promote the adjustment of Dalian Jiyun's equity in joint venture companies, optimize resource allocation, and increase Dalian Jiyun's financial reserves. After this transaction, Dalian Jiyun can further focus on the development of digital supply chain and help build a comprehensive, diversified end-to-end service system, enhancing Dalian Jiyun's container transport full-service capabilities.