Qinhuangdao Port (03369) intends to acquire Caofeidian high-quality bulk cargo terminal assets from Hebei Port Group and raise matching funds.

Qinhuangdao Port (03369) announced that on November 3, 2026, the Company entered into an acquisition agreement with Hebei Port Group, pursuant to which the Company intends to acquire from Hebei Port Group a 25% equity interest in Caofeidian Industrial, a 24% equity interest in SDIC Caofeidian, a 28.2328% equity interest in Huaneng Caofeidian, and a 6% equity interest in Caofeidian Coal. The consideration for the proposed acquisition is to be paid (i) partly by the allotment and issue of consideration shares, and (ii) partly in cash. The issue price of the consideration shares will be RMB3.45 per consideration share. In addition, the Company intends to issue new A shares to no more than 35 eligible specific investors. The total amount of matching funds to be raised shall not exceed 100% of the price of the target assets to be purchased by way of issuing consideration shares in the proposed acquisition, and the number of new A shares to be issued shall not exceed 30% of the Company's total share capital prior to the proposed A share issue. All subscribers shall subscribe for the new A shares issued under the proposed A share issue in cash. The number of new A shares to be issued under the proposed A share issue will be finally determined based on the results of the bookbuilding process after approval by the SSE and registration with the CSRC. The proposed acquisition is a strong measure to implement the maritime power strategy and the requirements for port resource integration. It will help the Company further expand its business footprint in the Caofeidian port area, enhance its safeguard capacity and service efficiency for the transportation of energy, raw materials and other bulk dry bulk cargo, better leverage its role as a main hub port for national energy transportation, and serve the coordinated development of the Beijing-Tianjin-Hebei region and the construction of a world-class port cluster around the Bohai Sea. The target companies of the proposed acquisition are the core profitable assets of Hebei Port Group in the coal and ore handling business. They are characterized by large scale, strong representativeness, stable and improving operating conditions, and relatively strong profitability, and have significant synergies with the Company's existing businesses. The target companies are all located in the Tangshan Caofeidian port area. The proposed acquisition will inject the relevant high-quality port equity interests into the Company, which will help further consolidate the Company's core business advantages, expand its business footprint in the Caofeidian port area, enlarge its operating scale, enhance its market influence, deepen the coordinated development of the bulk dry bulk terminal sector in the Bohai Rim region, and strengthen its comprehensive service capabilities and core competitiveness. At the same time, the proposed acquisition will help increase the Company's net profit attributable to the parent, improve overall profitability and shareholder returns, enhance its risk resistance and long-term development resilience, and lay a solid foundation for the Company's sustainable development. At the Company's request, the A shares have been suspended from trading on the SSE since the market opened on the morning of October 21, 2026. The Company has applied to the SSE for the resumption of trading of the A shares on the SSE from November 4, 2026. As at the date of this announcement, Hebei Port Group (the seller) is a substantial shareholder of the Company.