According to Zhitong Finance App, COSCO SHIPPING Port (01199) announced that Shanghai COSCO SHIPPING Port Investment Co., Ltd., a wholly-owned subsidiary of the company, together with Guanxing Investment Co., Ltd. and Wanbang Qingdao Port Investment Co., Ltd. intend to bundle and sell 70% of the shares of Qingdao Port Dongjiakou Ore Terminal Co., Ltd. through the Beijing Property Exchange, including 25% of Shanghai COSCO SHIPPING Port's shares in the target company. The total minimum bid price for 70% of the shares involved in the potential sale was approximately RMB 1,918 million, of which approximately RMB 685 million was owned by COSCO SHIPPING Port in Shanghai.

The target company is a limited liability company established in China, mainly engaged in the construction, operation and management of the Dongjiakou Ore Terminal in Qingdao Port. As of the date of this announcement, Qingdao Port International Co., Ltd., Shanghai COSCO Shipping Port, Guanxing Investment Co., Ltd. and Wanbang Qingdao Port Investment Co., Ltd. held 30%, 25%, and 20% of the target company's shares respectively. Once the potential sale is completed, the group will no longer hold any shares in the target company.

The potential sale of interests in Shanghai COSCO SHIPPING Port is part of the company's overall strategic plan. This move will enable the Group to monetize its investment in the target company and exit the target company, thereby optimizing the Group's resource allocation and supporting its future business development.

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