Lianyungang Port(SH:601008) Shang Hai Zheng Quan Bao·2025-08-08 20:19Group 1 - The company held its 19th meeting of the 8th Board of Directors on August 8, 2025, to discuss important resolutions [2][3] - The board approved an investment of 548.8 million yuan for the construction of a new vessel by its wholly-owned subsidiary, YunGang Ferry (Tianjin) Ship Leasing Co., Ltd [3][10] - The new vessel is intended to replace the "Ziyulan" ferry, which has reached its service life limit, ensuring the normal operation of the "Lianyungang-Pyeongtaek" route [3][10][26] Group 2 - The company also approved the "2025 Quality Improvement and Efficiency Enhancement Action Plan" during the same board meeting [4][5] - The investment project involves constructing a roll-on/roll-off passenger ship with a capacity of 950 passengers and 2700 meters of vehicle lane [17][19] - The construction period for the new vessel is set at 32 months, with the expected delivery date by April 8, 2028 [18][19] Group 3 - The construction contract was signed with Huang Hai Shipbuilding Co., Ltd, which has a good credit status and is not listed as a dishonest executor [11][15] - The total investment for the vessel construction is 548.8 million yuan, and the payment will be made in several installments based on project milestones [20][21] - The "Lianyungang-Pyeongtaek" route has transported a total of 410,000 TEUs and 660,000 passengers since its opening in 2007, contributing positively to economic benefits and cultural exchange between China and South Korea [26]