Bestway Marine & Energy Technology (300008.SZ) plans to transfer 40% equity of Shanjiao Tianhai for 41.0752 million yuan.

Bestway Marine & Energy Technology (300008.SZ) announced that in December 2021, the company, together with Zhongcheng Coordination Energy (Tianjin) Co., Ltd. (referred to as "Zhongcheng Coordination") and other partners, jointly established Shan Jiao Tianhai Co., Ltd. (referred to as "Shan Jiao Tianhai") to expand energy trading, increase warehousing business, and other development needs. As of now, the company holds a 40% stake in Shan Jiao Tianhai. Due to the continuous changes in the global economic trade pattern in recent years and the large fluctuations in commodity prices in bulk commodity trade, the originally planned warehousing and logistics business development has been slow. Considering that the current situation of Shan Jiao Tianhai does not meet the company's strategic planning, in order to focus on the development of core businesses and optimize the company's investment layout, the company intends to transfer its 40% stake in Shan Jiao Tianhai to Zhongcheng Coordination for RMB 41,075,200, and sign a "Equity Transfer Agreement". After this transaction is completed, the company will no longer hold any stake in Shan Jiao Tianhai.