Tianjin Port (SH:600717) 智通财经网·2025-11-10 09:16Core Viewpoint - Tianjin Port (600717.SH) is optimizing its asset structure by transferring 60% equity of Tianjin China Railway Storage and Transportation Co., Ltd. (referred to as "China Railway Storage") to enhance operational efficiency and focus on its core port logistics business [1] Group 1: Transaction Details - Tianjin Port's wholly-owned subsidiary, Tianjin Port Logistics Development Co., Ltd. (referred to as "Logistics Development"), plans to transfer 60% equity of China Railway Storage at a listing price of 22.5243 million yuan, with the total equity assessment value of China Railway Storage being 37.5405 million yuan [1] - The transaction will result in a reduction of approximately 21.11% of the company's 2024 projected revenue, amounting to 2.548 billion yuan, and a negligible impact on profit, contributing only 0.02% to the total profit [1] Group 2: Strategic Implications - The equity transfer will allow Logistics Development to no longer hold shares in China Railway Storage, leading to its exclusion from the company's consolidated financial statements, thereby reducing both revenue and total profit [1] - This move is aimed at enhancing operational efficiency and competitiveness by focusing on the core port loading and unloading logistics business, while also mitigating investment risks associated with the coal trading industry due to energy transition [1] - The funds recovered from this transaction will be utilized for equipment upgrades, improving cash flow and asset-liability structure, and is expected to increase the company's gross profit margin by approximately 7.57 percentage points, thereby enhancing overall operational quality [1]